Working in Retirement
Good news for boomers: Employees place a greater emphasis on experience
Baby boomers considering working in retirement or changing jobs later in life may think they're in a difficult spot because employers may be less likely to hire older workers. However, as many people start to work later in life, hiring managers are beginning to realize that older workers have something that younger applicants can't offer - experience.
Experts say many companies value the experience boomers carry with them into the office. With many businesses being more thinly staffed than in years past, having someone that can jump in with little to no training can be a valuable part of the team, Business Insider reports.
That's good news to many older adults who are looking to do something different later in life. Many boomers have gone back to school or are hoping to find greater meaning in a different job, something which makes working in retirement all the more appealing.
"In their 50s and 60s, people's priorities change," industry expert Marc Freedman told the news source. "They realize that the road doesn't go on forever. I think it causes a lot of people to re-evaluate what kind of job they want to do, what kind of life they want to lead."
Working in retirement has become a very popular option. Analysts say the percentage of workers 55 or older will be about 25.2 percent by 2020, which marks a significant increase from the 19.5 percent it was in 2010.
The most obvious benefit of working past retirement age is it offers the opportunity to boost your savings, but it may also make for a healthier retirement. Many boomers strive to stay mentally and physically active later in life, and according to Time, working in retirement often provides them a great opportunity to do so.
You might also find these articles interesting.
The concept of a retirement test drive has become popular over the last several years.
There has been a considerable amount of news lately highlighting the fact that adults may have to wait longer to retire. It can be easy to see this as bad news, especially if you're of the mindset that retiring early is the ultimate goal.
The desire for an active retirement manifests itself in a number of ways. Although some older adults choose to travel and others may head back to school, many boomers are interested in working during retirement.
A fulfilling retirement can take many forms, and for many baby boomers that includes heading back to the classroom or taking on an encore career.