I worked in the construction industry and retired in 2009. But, I have come out of retirement a couple of times to take on new projects and I could usually count on being the oldest guy on the site.
Recently though, I’ve met several individuals, older than me, who came out of retirement and rejoined the work force.
A question retirees who go back into the work force often get is “Why do you keep working after you retire?” The answer is a usually a variation of either “too broke” or “too bored”. I have one friend who went back to work after medical bills took his savings and another who just got bored sitting on the porch. Both were in their mid to late 70s when they decided to go back to work.
Recent surveys show that many people plan to continue working in some capacity after they retire and that over half of Americans plan to work past the current normal retirement age of 67. The same surveys show that the number of Americans who plan to work full time past that age has reached almost 30%. Economics has a lot to do with this decision and a part time job or side gig can go a long ways toward paying the bills.
Retirement in the 21st century.
The number of people who work in retirement may not be significantly different than it was ten or fifteen years ago, but we hear a lot more about it now and as we get older, we pay more attention to it. The economy and fewer retirement income resources may have a lot to do with retirees continuing to work, but there are other reasons why many retirees keep on working at least part-time in a retirement job.
Six Reasons A Retiree Might Take a Job or Start a Business When They Don’t Have To:
- A retirement job or running a business provides a purpose for what could become a mundane existence. Most of us have a lifetime of work behind us and for many people their career defines who they are. It is hard to learn how not to work.
- Jobs provide us with social interaction that helps keep our mind and body stimulated and active. Both are essential ingredients to living a healthy life.
- A part time job can contribute to a more active retirement that allows a retiree to put creative abilities to good use and make them feel productive while acting as teachers or mentors.
- Starting a retirement business can provide opportunities to form friendships with like-minded people in the same field.
- A passion for an activity, hobby or profession might be reason enough to start a business in retirement.
- These reasons can be high sounding, but the fact is some retirement jobs can be just plain fun. And even retired folks just want to have fun.
The 21st century retirement plan, a mix of work and leisure, is more appealing to us aging baby boomers than our parents concept of retirement. They looked forward to endless leisure and relaxation as a reward for many years of hard work.
In my opinion, most baby boomers work after retirement because they want to have a happy retirement, feel useful and live a long life. So, the ultimate retirement plan for a lot of us might be – don’t retire, just slow down a little!
The real difficulty is that most of us don’t know how to slow down. For myself, I worked into retirement slowly. I did get a wonderful little e-book called “The Ultimate Baby Boomers Guide” that offered lots of priceless information that helps a person enjoy retirement more not just a bunch of tips and advice on how to save or invest for retirement. Most retirees have already done that.