Whether you worked outside the home, inside the home, or some hybrid while the kids were in the house and/or your spouse worked, you may decide that it makes sense to work now. Many widows may not have worked for decades for a multitude of reasons, but things change with the passing of a spouse. Of course, doing so would depend on your age, health, and particular financial situation.
Some of us left the workforce to care for family members, especially if your spouse went through a prolonged illness prior to passing away. I became a widow when I was 53 years old after being a full-time caregiver to my husband, Ken, who passed away at the age of 57. Right away, I took on some volunteer work which kept me what I called “the right amount of busy”. I had a purpose and a mission for each day, but I didn’t have to report to an office while I was still processing what had happened and dealing with the exhaustion that comes with grief. After a few months, the fog was lifting a bit, and my late husband’s former business partner approached me about working at Global View, the company Ken founded. Before Ken was diagnosed with kidney cancer, he had asked me several times if I would like to work for Global View. My answer was always the same: “I’m not working with you.” I know couples can make that situation work, but I couldn’t imagine it. In October 2021, the timing was exactly right when Joey called to discuss the opportunity. My answer was a resounding “yes!”
The most obvious reason for working is to close household budget gaps and to save for retirement. We’ve also seen clients choose to work to help other family members when they don’t want to dip into their own retirement savings. Besides the financial benefits, tipping the scale in favor of working are some windfall benefits that may not be obvious at first blush. Of course, many of these benefits could also be reaped from meaningful volunteer work.
The financial motivations that I am discussing here, and there could be others, are healthcare, retirement savings, and conserving wealth.
Healthcare. Coverage is going to be a lot cheaper through an employer if you don’t qualify for premium credits through the ACA Marketplace. In 2025, the income limit for credits is between $15,060 and $60,240 for an individual. It is still possible to purchase insurance if say your investment income exceeds the upper limit of $60,240, but whatever you don’t spend on healthcare can work for you so why not take advantage of employer subsidies?
Retirement Savings. There are several retirement savings plans that become available when employed.
Conserving wealth. An ancillary but still financial benefit of working is that you may spend less when a big chunk of your waking hours is allotted to working. You’re less likely to spend hours shopping, dining out, traveling spur of the moment, etc., when you are occupied with work. I’m still guilty of doing all of the above, but those activities are definitely curtailed.
Whether your motivation to work was for financial reasons or not, there are several additional benefits that are more qualitative in nature. The main ones for me are the socialization, mental stimulation, and the satisfaction of contributing.
Socialization. We are social creatures at heart. Yes, even the introverted among us need to be around other people. If you doubt this at all, just think back to COVID for a moment and then let that thought go because no one wants to relive that. I became an empty nester and a widow at the same time, and the silence in the house was very uncomfortable for me. I had a wise counselor suggest leaving the TV on even when I was out, so it didn’t feel like I was coming home to an empty house. That helped, but there’s no replacement for being around people and having a reason to get up in the morning.
Mental Stimulation. You’ve heard that if you don’t use it, you lose it when it comes to muscles. While the brain isn’t technically a muscle, the same applies. Even if you choose a low-stress position, it will wind up being more stimulating than watching TV, for example. In 2017, the National Institute of Health did a study on the effect of retirement on cognitive function and found that verbal memory declined 38% faster in retirement than before retirement, and this was independent of age-related decline.
Making a Difference. Using your gifts and skills that have been developed over decades can be fulfilling and provide unique insights to an employer. This is not only applicable to people who have worked in a career for several years or even decades, but someone who has always worked inside the home has insights and time management skills that can prove to be invaluable to many employers. For example, there has been a trend over the last decade or so for airlines to interview “golden candidates” as they know how to treat people of all ages, have great work ethics, and know how to juggle multiple tasks. Not to mention that these “golden candidates” are likely empty nesters and love the idea of getting paid to travel. This is one example of a really good fit for both employee and employer.
Even if working isn’t viable or practical for you, there are other outlets that could provide many of the above non-financial benefits. I mentioned volunteering as a possibility, and there are others. Classes that offer lifelong learning opportunities are sometimes offered at local universities for discounted tuition. Exercise classes or social clubs can also help solo agers connect with other community members and provide structured activities.
However you choose to spend widowhood, the important thing is to “keep moving” mentally and physically. Suppose you need someone to discuss whether you should supplement your savings financially through work, or want to formulate a budget to incorporate your hobbies and interests. In that case, Global View has the expertise and the background to understand what you’re experiencing.