It almost seems counterintuitive -- but studies have shown that if you have the choice between working more or saving more, you may be surprised that the answer is to continue to get up in the morning and get to work!
You can understand how it makes sense, though. If you keep working you are still contributing to your retirement and don't have to tap into your retirement funds. Even better, you can put off taking Social Security.
Now granted, not everyone can keep working in retirement so it is clearly still very important to save. But if you're healthy and motivated, find a job you love and go for it.
Watch TheStreet's New Retirement Series: Ask Bob:
- Everything Millennials Need to Know About Retirement - Ask Bob
- Ask Bob: Social Security and Working Part-Time
- Ask Bob: Social Security Disability Benefits for Children and Adults
- Ask Bob: Social Security Survivor Benefits
Retirement is coming. It's never too late -- or too early -- to plan and invest for the retirement you deserve. Get more information and a free trial subscription to TheStreet's Retirement Daily to learn more about saving for and living in retirement. Got questions about money, retirement and/or investments? Email Robert.Powell@TheStreet.com.