With today's longer and healthier lives it makes sense to stay in the labor pool longer, either full-time or as a consultant or contract worker, or even at a hobby job that produces regular income. The goal is to phase into retirement by making enough money for a few more years to avoid pulling money out of your long-term savings. Doing this for just three years will boost your retirement income by 22%, according to T. Rowe Price. That's because working longer also allows you to contribute to your savings longer and reduces the number of years that your assets will have to generate income in retirement — a powerful combination. Working longer doesn't mean you'll have to answer to The Man. Start a small services business like walking dogs and watering plants for neighbors while they are gone, or house sitting. There are lots of ways to earn a few bucks without breaking a sweat.