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Should I work in retirement?

If you're worried about making your money last your lifetime, then continuing to bring in some cash through a job, even if it is part time, can be a huge help. Let's say you have a $500,000 IRA account, but you take on some work that gives you enough income that you're able to reduce your IRA withdrawals by $15,000 a year for 10 years.

Okay, so you delay making that $15,000 IRA withdrawal for 10 years and thus keep the money growing tax deferred at a 7% annualized rate. At the end of that 10-year stretch, your IRA will have exceeded $1,000,000, with nearly $300,000 more in it than it would have had if you’d been withdrawing $15,000 a year.

(As we mentioned, if you are over 70 ½ years old you must make a required minimum withdrawal each year,)