As many as 9.5 million retired Americans are considering at least a partial return to the workforce, according to a new study by Charles Schwab.

The study also found that 32 percent of those currently employed expect to hold their job and delay retirement.

“It’s a challenging time to be facing retirement,” said Rich Rosso, a financial consultant at Charles Schwab’s Houston branch. “The situation many Americans have found themselves in illustrates the importance of long-term retirement planning. But in the short term there are also a host of things people can consider to help smooth the ride.”

Rosso had the following suggestions for retirees anticipating a jump back into the workforce:

Don’t overlook possible tax deductions. You may be able to deduct certain job-hunting expenses such as employment agency fees, resume preparation, phone calls and transportation if you’re seeking employment. These expenses are generally deductible as miscellaneous if exceeding 2 percent of your current income.

Consider stopping your Social Security payments. It doesn’t take much to make your Social Security payments taxable. If you can pay back what you’ve already taken out, it may be in your best interest to stop taking Social Security until after you stop working permanently.

As age 70½ approaches, don't forget you'll need to start taking required minimum distributions from your traditional IRA. You have until April 1 of the following year to start, but that means taking two taxed distributions in the first year.

Be sure to stay well diversified. So close to retirement, it is critical to develop a well-diversified portfolio and reduce exposure to any single investment, such as the stock of your ex-employer.

Periodically review all the categories of your insurance coverage. Verify that you're not paying too much for the wrong kind of coverage. This should include life, property, casualty and liability insurance.

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