Working in Retirement
Enjoying the retirement lifestyle without the retirement
Whether choosing to work out of pleasure or necessity, it appears that more baby boomers are deciding to stay on the job for a few more years. One recent poll from The Associated Press and LifeGoesStrong.com found that one out of every four boomers has no plans to retire at all.
Some of this trend may be determined by the economic downturn, which put retirement accounts on the backburner for many Americans. Now, they're playing catch-up.
Sixty-five-year-old Paul von Goertz and his wife frequently travel from their home in Knife River, North Dakota, to visit their grandkids in Pennsylvania and South Dakota, according to The Duluth News Tribune. Von Geortz also happily volunteers with Civil War reenactments to better educate schoolchildren about history, plus he works with the Cancer Resource Center at Essentia Health to help people battle cancer.
While that may sound like enough to fill up every day of the week, even if you're retired, the tireless von Goertz also works part-time for an advertising and consulting firm.
"I've got 43 years of experience that I can pass on to younger people," he told the publication. "I think that we have a younger population that are very technical-savvy. Their knowledge of how to develop and maintain relationships may need some help."
"If you're in your mid-50s and you haven't made preparations, I’m going to tell you, one, you’re going to work till full Social Security, which is probably closer to 66 and 10 months, and two, you’re going to really have to start saving," financial advisor Andy Wheeler explained to The Tribune.
Working later is part of the norm at many Del Webb retirement communities, and amenities have been adjusted to accommodate these working retirees, with later hours and stylish spaces for residents to work, such as the Wall Street Reading Room at Sun City Huntley in Huntley, Illinois.
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The retirement plans of many baby boomers took a hit when the recession struck. Some were concerned they'd have to push back the date when they'd leave the workforce and others were worried about whether they'd be able to live the active lifestyle they had long envisioned.
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Not long ago, it seemed unusual for older workers to stay on the job past the traditional retirement age, but that expectation has changed considerably more recently.
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