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Older Workers Saying 'No' To Retirement
Old 09-12-2007, 07:58 PM   #1
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Older Workers Saying 'No' To Retirement

A bit of a repetition of previous articles, sounds like some new census numbers are out:

Older Workers Saying 'No' To Retirement - News Story - WRC | Washington

The title makes me wonder, "What are they thinking?" Or perhaps, what are they not thinking. If your life is work, then working is your life, apparently...?

Recently I told one of our VPs that I intended to retire in a few years or sooner, he said, "What are you going to do?" I replied, "What don't I want to do?", and rattled off a few things off the top of my head. He barely responded and quickly changed the subject.
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Old 09-12-2007, 08:01 PM   #2
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This appears to be the source...

Nationally, nearly one in four people between the ages of 65 and 74 (23.2 percent) were in the labor force (either working or looking for work) in 2006, an increase from 19.6 percent in 2000.

US Census Press Releases
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Old 09-12-2007, 08:26 PM   #3
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The question is always, are they working past retirement age because they want to, or because they have to. This has been the subject of much media coverage lately and most of the time the conclusion is that people continue working past retirement age because it's fulfilling, intellectually stimulating, socially rewarding or whatever. This study however shows something different: many (if not most, that part is unclear) keep working because financially they can't afford to retire even though the title is "older workers saying no to retirement" like they have a choice.
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Old 09-12-2007, 08:55 PM   #4
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Originally Posted by FIREdreamer View Post
they can't afford to retire even though the title is "older workers saying no to retirement" like they have a choice.
I have an older brother in that situation, he has spent everything he has ever made (income equals outlay), and expects SS to provide what he will need (he's 55 and plans to work seven more years). All of us siblings have pointed out that he will be living a very marginal existence at that time, even if he has no debt (credit card debt is also a problem in his world). He still insists that, "life is short, better spend it while you've got it".

My brother aside, it is still surprising to see that one in four older people are having to work.
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The Washington Post's version of the story
Old 09-12-2007, 11:04 PM   #5
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The Washington Post's version of the story

When I read this story this morning, I wondered how it would play out on this board. The Post version is definitely on the somber side. Besides working beyond retirement, there was a lot of emphasis on percentage of non-english speaking households.

washingtonpost.com
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Old 09-12-2007, 11:37 PM   #6
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I call it prison syndrome. Just like how people that are in prison for 30 plus years will commit a crime inside so they do not have to leave.

I think it is the same think in the work place (of course some people never saved a dime so they have to work also)

I think another reason all these "expert" articles are coming out is they are scared to death of all the baby boomers saying to hell with it and calling it quits for SS reasons
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Old 09-13-2007, 07:52 AM   #7
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Yesterday I had a 68 year old customer who is collecting 2 pensions, VA disability, and SS. He is currently employed part time, dislikes his current j*b, and is looking for a new one!

Money is not the issue he claims. He views "retirement" as something for OLD infirm people.

It takes all kinds! I did admire his spirit, despite his views!
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Old 09-13-2007, 11:55 AM   #8
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Most of the older people I see are working in jobs that suggest they have to rather than they want to. Can't see wanting to work in a highway toll booth on a Saturday night....or bagging groceries on Saturday afternoon...or running a hot dog stand outside Home Depot when it is nearly 100...or waitressing at the local diner....but maybe I am missing something.
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Old 09-13-2007, 12:33 PM   #9
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Quote:
Originally Posted by Bigritchie View Post
I call it prison syndrome. Just like how people that are in prison for 30 plus years will commit a crime inside so they do not have to leave.

I think it is the same think in the work place (of course some people never saved a dime so they have to work also)

I think another reason all these "expert" articles are coming out is they are scared to death of all the baby boomers saying to hell with it and calling it quits for SS reasons
Yeah, I think wildcat's tagline is from the Shawshank Redemption....along those lines...
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Old 09-13-2007, 01:54 PM   #10
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I think that everyone else needs to work long and fund SS. I have several friends who say that they are going to have to work the rest of their lives.
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