Working in Retirement
Complete retirement, a thing of the past
It used to be that at around 65, Americans would be able to retire and live off a cushy pension plan, Social Security and other benefits. However, as many baby boomers can attest, that reality has long become fantasy.
Jack VanDerhel, who helped organize the Retirement Security Projection Model, recently ran scenarios that showed most retirees won't be fully leaving their desks until their 70s or later.
"There's going to be a huge set of households working far into their 70s before they have a decent retirement income," he told The Palm Beach Post.
However, a lot of older workers are instead finding new jobs that they enjoy during their partial retirement living. Marcy Debs, 89, counsels other people on weight loss programs and said that she "loves the work" that she does. The same can be said of John Larsen, 79, who told the publication that having a job has always kept him active.
Just because complete retirement may be a thing of the past for many Americans, that doesn't mean they can't enjoy the luxuries of retirement. At Del Webb retirement communities, amenities are open later to support homeowners who are still working and there are fully furnished, professional rooms that offer a warm and stylish atmosphere for those who choose to telecommute.
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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.
There's no denying retirement is different than it used to be. In years past, it wasn't unusual for workers to leave their job all at once and settle into a relaxing life after employment. That's not the case anymore, as many people found it difficult to jump from a fast paced work environment to the more relaxed atmosphere of retirement.
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.
The concept of a retirement test drive has become popular over the last several years.