Working 9 to 5 -- at 75

[Tekward]

Smart Money - How the fastest-growing group in the American work force is changing what it means to be "retired."

(Not in a good way)

Working 9 to 5 -- at 75 - SmartMoney.com

[glippy]

I only read the first page. Do they reveal how she got in that situation? No SS? No pension? No savings? No home equity? It does say she's been working for over 50 years, did they have to deal with some medical issue or other family tragedy?

Or are they just unable to control their spending?

[traineeinvestor]

It was a good article on some of the issues faced with continuing to w*rk late in life - and reinforced my wish not to be forced to do so.

One of the things that struck me was this:

Quote:

a recent EBRI poll found that 92 percent of seniors cite "wanting to stay active and involved" among their reasons for working

It's more than a bit worrying that so many people feel that they have to resort to returning to w*rk in order to stay "active and involved".

Thanks for posting.

[ziggy29]

Quote:

Originally Posted by traineeinvestor It's more than a bit worrying that so many people feel that they have to resort to returning to w*rk in order to stay "active and involved".

Especially full-time. I could see myself potentially doing part time work I don't mind doing when I reach FI -- especially if the hours are somewhat flexible -- but 40+ hours a week? Blecch.

[MooreBonds]

Quote:

Originally Posted by ziggy29 Especially full-time. I could see myself potentially doing part time work I don't mind doing when I reach FI -- especially if the hours are somewhat flexible -- but 40+ hours a week? Blecch.

Well, also consider the society that we live in today....for many, a sense of family is not really strong at all - it's all about me, what I want, what I get out of something. As a result, many older people are single, many have children who often don't give a damn about them, and may not have very many friends or other family around. Sadly, for some of them, a job may be the main source of intellectual and emotional involvement.

Of course, I'd say (hopefully) that more people probably need to work for financial reasons because their savings can't support their financial spending, so they often resort to the not-so-humble answer of "I am bored", rather than admit that they need the money.

[Sesq]

My 76 y.o. father retired at 58, got bored and went back to work by 60. He opened his own estate planning law firm. Unfortunately, he needs my 76 y.o. mother to help him run it (she is administratively a whiz, with an amazing work ethic), and she'd just assume retire.

They are both slowing down a bit. The work has dried up enough to match their slow down. At least for my dad it appears to be optional. My siblings at times have speculated they are working because they need it. They are very secretive about their finances (as is their right), but they taught me to be a saver, I am pretty sure they practiced what they preached.