More Older Adults Seek Retirement Jobs
Today, more seniors and baby boomers are choosing to retire earlier or later than age 65, and to make having retirement jobs a part of their retirement years. The National Council on Aging reports that one in three Americans age 65 and older has a retirement job, working at least part-time.
The retirement jobs trend is likely to increase as more baby boomers get closer to retirement. According to a 2003 AARP/Roper survey:
- 80 percent of baby boomers expect to keep working at in retirement jobs.
- Only 7 percent of baby boomers said they expected to be in a full-time retirement job.
- 55 percent of baby boomers said they would work part-time either for income or enjoyment.
- 15 percent said they'd like to start their own business as for their retirement jobs.
Why Do Seniors and Baby Boomers Want Retirement Jobs?
The reasons people give for wanting retirement jobs fall into four basic categories:
- MONEY—The chance to earn supplemental income is one of the main reasons people want retirement jobs. By earning extra money at a part-time retirement job or business, retirees can stretch their pensions, afford a few luxuries they might otherwise be forced to forgo, and in some cases lower their health care costs by receiving employer-sponsored medical coverage.
- LOVE—Some people want retirement jobs because they just love to work. Especially for people whose work is creative and offers them a lot of autonomy—such as entrepreneurs, writers, artists, and consultants—work is often so much a part of their lives and what they do, and a source of so much personal satisfaction, that being without a retirement job holds little or no appeal.
- FRIENDS—For people who are outgoing and love to interact with other people every day, retirement jobs may provide a vibrant social life and a built-in network of professional colleagues and potential friends.
- FEAR—Some people have devoted themselves so completely to work before retirement that they prefer to keep working at retirement jobs as long as possible to delay any need to adjust to a different lifestyle. Without a well-developed support network of friends and family, or a plan for retirement activities they want to pursue, retirement jobs may feel like the safest alternative.
Want some ideas for finding or creating great retirement jobs? See Tips for Finding the Best Retirement Jobs—For You.
