Article: There are no great answers to the problem of how to retire without savings, but one possible solution is a partial retirement. After a lifetime of work, many retirees have considerable skills they can parlay into an income stream, and many employers like employing retirees because they're more dependable and loyal.  If you're close to retirement now, you might want to take some steps to develop a consulting business, particularly if you have a white collar skill set, such as engineering, law, or business. If your skillset is more blue collar, like carpentry or welding, consider how you might turn some of your skills into high quality craft products you can sell on the side. By delaying Social Security payments until you're seventy, your monthly benefit increases to 132% of the original payment. After age seventy, however, there are no further increases.  Another common strategy is to delay until age 67—that would get you 108% of your monthly benefit. Delaying Medicare doesn't increase your benefit. If you elect to keep working after 65, taking your monthly Social Security benefit and investing it can be a smart strategy to maximize your payouts. There's not a blanket rule; investing your monthly checks will only make good sense for a minority of retirees.It's not for everyone. To see where you fall, you just have to do the math. For example, assume John, at 65, draws a very average benefit of around $1000 per month and makes $50,000 per year in salary. His employer matches contributions to a 401(k) dollar for dollar up to 20% of his salary, which is a great plan.  If he only contributes the $12000 he gets in Social Security to his 401(k), he would actually have $24,000 in the 401(k) at the end of the year. If he retires at seventy and lives till he's eighty, he'd have an extra $120,000, and that doesn't even count whatever accrues in the account through investments. If he had waited till seventy to retire and taken the 132% benefit instead, he would have only seen an extra  $38,400 over the same 10 years. Another way to increase your income during retirement is to rent out a room in your home. While it probably won't cover all of your expenses, when combined with other strategies, it can really help defray some of your costs. For example, if you rented a bedroom for $500 per month, drew a $1000 per month Social Security payment, and made another $1000 through a part time job, your yearly income would be $30,000. You won't be rich, but if you had little to no mortgage debt, you would be able to maintain a comfortable standard of living.

What is a summary?
Keep a part time job. Delay Social Security benefits. Invest your benefits check. Rent out rooms in your home.