It voices down whether you have done your financial planning before retirement.
Old folks who are working are divided into 2 categories. One group is really making end meets because they have no savings or anyone to take care. The other group who are better off financially and/or have people to take care off. I have personally seen old folks from the second group; they work just to pass time, making new friends, make the brains work, etc. Monetary rewards are not top priority.
Therefore, which group do you want to belong to is up to individual ordeal, situation, etc.
Having said that, for group 2, a friend of mine whose mother is 70 years old, a retiree from the civil service. We once asked her whether she wanted to continue working. Her replied was why was there a need for me to work anymore? I am already so old, time to enjoy my golden years. Why is she able to do so without financially strained?
She is under the pension scheme - that is she will forever receiving a sum of the money from the government until she leaves this world. On of top that, all medical expenses regardless of amount incurred are paid by the government. In addition, she bought and fully paid a HDB flat and rented out for $2,800 monthly. Therefore, she has the money to enjoy life. She eats at hotels, restaurants, traveling, etc. No problem at all.
She asked me and my friend who is going to pay her $2,800 or more for an old lady? If not, why should I continue to work? The rental collecting monthly is like a salary to her.
