There are plenty of benefits to holding down a job during retirement. For one thing, the extra income might come in handy, especially if you're pretty low on personal savings.

Northwestern Mutual reports that the average 60-something today has only $112,500 in retirement savings, while the average 70-something has $113,900. Neither figure represents a particularly large nest egg. So if you have a comparable amount of savings, you might need a job to supplement your withdrawals and Social Security benefits.

Even if you're doing OK financially as a senior, working can still have benefits. A job could help structure your weeks and serve as a social outlet. It can also keep you from getting bored, to the point where it begins to have an effect on your mental health.

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Source Fool.com