Thursday, June 23, 2005

Working in retirement may be harder to do than you think.

About 75% of Boomers plan to work during their retirements. An article in today's New York Daily News suggests that there are barriers. The article quotes research by Alicia Munnell, director of the Center for Retirement Research at Boston College who in turn cited results from a survey done by Employee Benefit Research Institute.

Highlights of the article are:

  • On average, those surveyed retire at age 62.
  • "We need to have a policy to change real work patterns and then maybe we can discuss raising the normal retirement age under Social Security," she said.
  • People want to slow down and current work rules don't allow that.
  • Companies are skeptical about hiring older workers.
Is your plan to work in retirement realistic? You may need to develop an outside the box strategy.


Blogger AZMike said...

Hi Jim Great Blog.

I was trying to find that information that supposedly is by the Department of Labor on who is what at age 65. The last article I read suggested our of 100 people, 26 are dead, 1 is financially fit, 4 are doing pretty good and 69 are either depending on family or in serious trouble.

I never did find it there at the Dept. of Labor but I did find statistics about how much more people are working past retirement age, while they never said it was out of choice, I am pretty sure it is out of necessity.

I look around and see all the people around me and how much they are spending on medical treatments, prescriptions and insurance(if they can still afford it) and while I was once looking forward to "slowing down" I can see physically it happening but out of necessity I may need to keep working.

I have found an online community offering hope, I wanted to share it with your readers and you. Maybe we all can be blessed.

12:49 AM, September 21, 2008  

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