Going back to work after retiring?

[Deleted]

My mother in law is considering going back to work after being retired for 2 years.... she didn't think she would be that bored with herself.

She currently split her time between her sister in Long Island, us, and travelling to Haiti. She currently gets a pension from her job and that is enough, she has barely touch any of her savings. She also not taking any social security since she is only 62 I think.

She is trying to decide between going back full time or part time. She started last week and working twice a week helping her brother in law manage his small business. She likes it and keep her busy.

She was offered a full time position and she told us yesterday (she is staying with us this week). She said either we get pregnant and she will turn down the job, or she will take the job.

I told her to take it
- Her plan has always been to come live with us once we have kids.

Anyway back to my question: will it affect her pension in anyways? Not really worried about social security since she is not taking any out now.

[Plain Old Petunia]

It depends. What sort of pension does she have? Some pensions will not allow you to both draw and be working someplace affiliated with that pension, but allows you to work elsewhere.

[cael]

I know my dad (state employee for 30+ years) is retiring in a little under 2 years, and he is always saying "Maybe I'll do that part-time when I retire!" (he says that about a million things) I don't think his pension will be affected as long as he isn't doing anything for the state.

[Deleted]

Mar 24, 2011 16:46:27 GMT -5 cael said:

I know my dad (state employee for 30+ years) is retiring in a little under 2 years, and he is always saying "Maybe I'll do that part-time when I retire!" (he says that about a million things) I don't think his pension will be affected as long as he isn't doing anything for the state.

She used to work for the state (started right out of college at 21) and retired when she turned 60-61 I believe.

The job is not for the state, it is a small business that her brother in law owns. He wants her to start running it for him since she does such a good job working only 2 days or so.

[cael]

If it's totally unrelated to the state it's probably OK? I'd have her check w/ the state retirement system though to make sure.

[Plain Old Petunia]

Then there's no problem. She may want to keep in mind that she may be in a high tax bracket between the two (pension and wages).

[Gardening Grandma]

Good for your mom!!!

will it affect her pension in anyways?

Most likely not since it is unrelated. But it never hurts to call and ask. If she's collecting SS and is under full retirement age, it may affect her benefit.

[debtheaven]

She was offered a full time position and she told us yesterday (she is staying with us this week). She said either we get pregnant and she will turn down the job, or she will take the job.

I just HATE this kind of "jokey" pressure. HATE HATE HATE it! I react very badly to this sort of thing. I would tell her to accept the FT position then put my future kid in daycare a) to ensure that my child was raised by a rational human being. I wouldn't INTEND to spite her, but hey, that would be a bonus.

Personally I would never want somebody like that living with me. Living within spitting distance? Maybe. (But definitely not sure). But living with me 24/7? NO WAY!!!

Also, she's talking carp, and that bugs me too, to no end. She is retired, supposedly has enough to not need to work, is debating between accepting a FT or PT job from FAMILY and putting the pressure on YOU to help her make the right decision?! Because if she does accept that FT position that she does not need from FAMILY, and then you get pregnant, what will happen? Her family member will FIRE her?! My arse!!!

If I were her, I'd accept the PT position. If I were you, I'd find a smaller apartment, yesterday. There is no way, shape or form I would entrust a woman like that to look after my kid FT. PT? Maybe. But no more than one or two days a week. (ie a MINORITY of that child's daycare).

Good luck!

[TD2K]

I have a friend for Exxon. Lots of their older engineers are retiring and then being hired back as consultants as Exxon can't afford to lose them and throws enough money at them until they say yes.

Ooooo, I so need a job like that

[debtheaven]

This message has been deleted.

[Deleted]

Check to see if her pension is tied to health care benefits, though. I'm a state worker. If you go to work for another company that offers health care, then the state will drop you from theirs. It can be a big incentive not to work elsewhere, but maybe this firm is too small. Anyway, there should be something online if it's for the state that can guide her.

[TheOtherMe]

My SO other retired from the federal government and is now working for them as a consultant doing the exact same thing. He had to wait 30 days between his retirement date and working as a consultant. Some years he makes lots of money, some years not as much. He is paying in to another 401K and social security, so will have two pensions and social security when he finally calls it quits.

He was pretty much forced to retire if he wanted to continue doing what he was doing. He was detailed to the position for about 5 years and he was told either retire or go back to your agency. He no longer wanted to do that.

[angel007]

HER plan has always been to come live with you, once you have kids?

Yikes....scary...very scary...

[whoisjohngalt]

Her plan has always been to come live with us once we have kids.

I have no idea how to answer your question, but I am super nosy, so I was wondering - how do YOU feel about her plan?

Lena

[Deleted]

doesn't your MIL have any interests outside of work and family? Any hobbies or volunteer interests? I barely want to go to work now, so I can't imagine I'd want to go to work when I didn't have to! I'd much rather spend my time creating (mediocre) art and volunteering at various places. Not everything is about money.

[resolution]

I can understand her wanting to go back to work if she really enjoyed what she did. My grandmother always regretted retiring at 67 and said she should have kept working until 70. She missed her "kids" at the office. Maybe once your MIL has that interaction going again she will pressure you less for grandkids.

Your MIL needs to check with her pension plan to find out their specific rules. In my own plan I would be able to go to work for any employer that is not in the plan, but I couldn't go to work for a participating employer.

[april47]

I wouldn't have retired at 63 if my job wasn't so physically and mentally so demanding, if I could make my own hours, and if I LOVED it. Is there such a job?? I now really can't go back to what I did(nursing) and there is no part time job that interests me that I am quailified for. I will NOT move in with my kids though. I will eat cereal 3 times a day first!

[Deleted]

Mar 25, 2011 10:48:41 GMT -5 @moneyjenny82 said:

doesn't your MIL have any interests outside of work and family? Any hobbies or volunteer interests? I barely want to go to work now, so I can't imagine I'd want to go to work when I didn't have to! I'd much rather spend my time creating (mediocre) art and volunteering at various places. Not everything is about money.

It is not about the money for her, like I said she is barely touching her savings right now and not drawing from social security. She lives off her pension and her rental home income (have 3 rental homes in Haiti) and is able to travel 2-4 times a year.

She does it now 2 times a week to keep her busy and considering doing it full time and getting paid for it. She just asked us if we knew if it would affect her pension and health insurance in any way.

[Deleted]

Mar 25, 2011 10:09:21 GMT -5 @angel007 said:

HER plan has always been to come live with you, once you have kids?

Yikes....scary...very scary...

In my culture, it is nothing weird/creepy or scary.

It is quite normal actually and with my wife being an only child, it was always expected that at a certain point my mother in law would be moving in with us.

The same way it is expected that my mom would move in with either me or my other 2 siblings (or should I say 1 sibling since she knows she will not want to live with my sister for some reason).

They would not depend on us financially (both my mom and mother in law are financially set) but more so for company and having people around.

Again it is a culture thing. I get along with my mother in law so it's not like she is going to be driving me nuts.

[Bluerobin]

I was eligible for a company pension at 55. The company was sold when I passed that age, and I immediately started taking it, while working for the new company. The pension rules had nothing against this. Since was working and did not need the pension, it was invested. She might be in the same situation. Check with her company.