Retirement: What to Consider Before Working Part-Time Retirement: What to Consider Before Working Part-Time | Equifax Finance Blog

Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Retirement: What to Consider Before Working Part-Time

Written by Jeff Rose on February 11, 2013 in Retirement  |   No comments

Many of us are working hard now with hopes of a future that includes a relaxing retirement. But a funny thing happens once you retire from your job—you can get bored. Plus, you might find that your retirement savings aren’t enough to keep up with…

retirement part time workMany of us are working hard now with hopes of a future that includes a relaxing retirement. But a funny thing happens once you retire from your job—you can get bored. Plus, you might find that your retirement savings aren’t enough to keep up with the post-retirement lifestyle you want.

A part-time job can help alleviate both the boredom and financial insecurity that can come with retirement, but there are certain things you should consider so that your extra income doesn’t affect your benefits.
Retirees rely on three primary sources of income:

  • Pension
  • Personal savings
  • Social Security benefits

A pension is a predetermined amount of money that an employer guarantees after you retire at a certain age. Not all companies offer a pension to their employees, but one can be an extremely valuable source of income if your job offers it. Federal and state government employees are common examples of workers who often qualify for pensions.

Since you are already guaranteed this money, working a part-time job won’t affect this type of benefit. The exception is if you go back to working for the same employer. If you plan to work for your previous employer again on a part-time basis, make sure you check first to see if the company will restrict your pension benefits.

Personal savings
Even if you have a pension in the works, it never hurts to have a backup form of retirement savings. During your working years, you likely opened one or more of the following:

  • 401(k)
  • Roth or traditional IRA account
  • Bank savings account

You cannot be penalized for working part-time if you are relying on a personal savings account as your source of retirement income. Because you put this money away on your own, you have already paid the taxes on it.

The situation is different with IRAs and 401(k) accounts. In both cases, the IRS requires that you wait until you are 59 ½ years old to take out the money—it will penalize you for taking the money out earlier than that. Still, working part-time won’t affect these types of retirement accounts if you wait to take out the cash until after you are 59 ½.

Social Security
Social Security benefits are intended to help retirees pay for basic living expenses. Although you pay into the system for all your working years, the benefits aren’t generally large enough to pay for everything you might need. This is why many retirees who rely primarily on Social Security decide to work part-time.

When it comes to working a part-time job, your Social Security benefits will only be affected if you retire early. As long as you reach full retirement, you can work without penalty. The limits are as follows:

  • If born before 1938, retiring under the age of 65.
  • If born between 1943 and 1955, retiring under the age of 66.
  • If born after 1955, retiring under the age of 67.

Jeff Rose is a certified financial planner and author of the blogs Good Financial Cents and Learn more about his Debt Movement, where he’s inspiring people to pay off $10,000,000 of debt in 90 days. 

No comments yet

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Retirement Archive