Early Retirement popularity declines

[REWahoo]

I seem to always be out of step with the latest trends...

Appeal of early retirement fades, and industries take note - MarketWatch

"The appeal of early retirement is fading, and more and more folks are willing -- even eager -- to work beyond some mythic date. A record 24.6 million Americans age 55 and above are on the job. This is a sharp departure from the recent past, and there are a number of reasons for the change:

• We are living dramatically longer than our ancestors, so we will have to support ourselves longer and earn more money to pay the bills, often including health-insurance premiums. An American man who today lives to 65 can expect, on average, to live an additional 10 years. A female who survives to 65 can expect to log another 15 years, on average.
• More and more people prefer the challenge of the workplace to the quietude of retirement. Many have seen their friends, relatives and co-workers expectantly take early retirement in recent years only to encounter boredom and disappointment. After all, how many rounds of golf can you play in one lifetime? As Rhoma Young, a human-resource consultant, says, "They miss a sense of worth and contribution. Especially among the Type A personalities, volunteering doesn't give them quite the same clout they had. There is an increasing amount of depression among people who have been retired two to three years. Relationships between husband and wife start to deteriorate."
• Scientific surveys have repeatedly shown that people who continue to work as they grow older live longer, healthier lives than those who don't. In a survey by Civic Ventures, a California nonprofit, 65% of older workers agreed with the statement that retirement is a time to begin a new chapter in life by being active and involved, starting new activities and setting new goals. In another survey, Roper and AARP found that 69% of people age 45 to 74 were working, or planning to work, in some capacity after retirement.
• Employers in many lines of work expect to confront labor shortages in the years ahead -- notably shortages of highly skilled workers. So they are offering unusual rewards to keep older employees on the job. They don't want a large and experienced work force to walk out the door. More and more employers are hiring more part-time workers and empowering them to create their own, personalized, flexible work schedules."

To those of you who buy into this, thanks for supporting my future SS earnings. Your efforts are greatly appreciated.

 

[TromboneAl]

Three cheers for the ignorant, misinformed [-]asses[/-] masses.

 

[bbbamI]

My hubby is counting down the months, days and minutes until his retirement. If I let him see your post REW, he would shove his head through the computer monitor!

 

[chinaco]

Sounds like the article was written by someone who can't ER at 55.

This is one Type A personality that can't wait to retire.


As far as the last point goes... employers allowing part-time work. I would not be opposed to working some. But it would really have to be on my terms and my schedule. Otherwise, working would be a set of constraints that would not be acceptable. If I did work, the primary motivation would be to generate extra cash for additional discretionary spending. Not to fill a void.

 

[lazygood4nothinbum]

an entire 10 years free from indentured servitude from age 65 to 75 huh? just shoot me now.

i always got my sense of worth from my self, never from my job. ever since corporate "re-engineering" turned us into monkies there hasn't been much of a sense of contribution. what's the difference between playing golf every day and shuffling papers every day? since i quit work not only has much of my depression subsided, but i've lost a lot of stress and weight ta boot. but then, i never was a type a. i'm more a type z.

my uncle & brother swear by that scientific study that working will keep you from getting alzheimer's. tell that to my dead mother who only stopped working when we dragged her from her desk because her brain had been destroyed. i'd rather 25 good years just for me, thank you.

i can not think of a single incentive which would keep me tied to that miserable s.o.b. mcfortune 5 which employed me. i don't need the money and as to flexibility, i'm pretty sure i've got more on my own than they can offer.

 

[cute fuzzy bunny]

Scientific surveys have repeatedly shown that people who continue to work as they grow older live longer, healthier lives than those who don't.

If this is an example of their investigative work, you can take the rest of it with a grain of salt.

There is absolutely no valid scientific survey that shows this to be true.

There are a couple of studies that used anecdotal evidence, part from an aerospace study that was invented to keep aerospace engineers from retiring earlier than the company wanted them to, coupled with unspecified data from the late 1800's when people didnt stop working until they were sick or disabled, which often led to death. So the problem was their upcoming death caused their retirement...not the other way around.

Another aerospace study, this one done when there was an urgent desire to get employees to retire early, showed that early retirees add two years to their life span for every year they retire before 65.

A Sandia Labs study showed no correlation whatsoever between retirement age and life span.

 

[Sam]

I only agree with one single point in the article: Health insurance premium.

The rests, as most of you have already said, are either garbages or excuses.

But this one is the most hilarious:

More and more people prefer the challenge of the workplace to the quietude of retirement.

Don't about your plan, but mine doesn't include quietude.

 

[cute fuzzy bunny]

Mine either.

I was just looking around on the internet to see if anyone makes Flinstones Chewable Valium for my 2.5 year old.

 

[Eagle43]

what's the difference between playing golf every day and shuffling papers every day?

I wish I'd said that. Absolutely on-point. Of course, there is a difference. Golf means something, it has a goal. Does somebody have to quote NORDS? Quote: "You are responsible for your own entertainment."

And gee, CFB, I liked that Aerospace chart that showed you get 2 years additional for every year before 65. I'm 10 years ahead .

 

[SecondCor521]

Mine either.

I was just looking around on the internet to see if anyone makes Flinstones Chewable Valium for my 2.5 year old.

CFB, can I have a new monitor please? This one has coffee all over it now.

2Cor521

 

[cute fuzzy bunny]

Cool, you're pre-disastered. Wipe off enough coffee to watch this...

Kidstoned Chewable Valium - Soapbox on MSN Video

 

[rocketdog]

Here's an article that claims early retirement is hazardous to your health. I'm trying to add it as an attachment, but I'm not sure i'll be successful. The reference is: British Journal of Medicine published online Oct 21, 2005,
"Age at retirement and long term survival of an industrial population: prospective cohort study" Shan P. Tsai, Judy K. Wendt, Robin P. Donnely et al..
The authors seemed to try very hard to show that working longer makes you live longer--

 

[Sandy]

I don 't think there is very good science available on this. In the past, with shorter lifespans you retired and died (or just died). The current cohort that is living longer didn't really expect to, and the social norms said you should slow down and sit, so there are missed opportunities. I think this group has the opportunity to reinvent the entire concept of retirement -and if my peers want to keep w*rking, have it, it will keep the parks and other places uncrowded during the week.

CFB: looks like having that 2 1/2 year old is aging you faster than the corporate world.

 

[dex]

Good - they can help reduce the social security deficite

 

[Khan]

More and more people prefer the challenge of the workplace to the quietude of retirement.

I see they didn't talk to any introverts.

The authors seemed to try very hard to show that working longer makes you live longer--

I fail to see how elevated blood pressure, obesity and migraines would make me live longer; or why I would want to.

 

[Gotadimple]

I see they didn't talk to any introverts.

I fail to see how elevated blood pressure, obesity and migraines would make me live longer; or why I would want to.

Maybe the underlying assumption is "Whatever doesn't kill 'ya, makes 'ya strong." And cranky.

 

[FinanceGeek]

OK I'll come in on the other side of this one. I actually love my career (not the same as saying I love my job...), and I want to keep doing it as long as I can possibly keep finding employment opportunities.

I enjoy the work, (most of) the people I work with, and I do get satisfaction from my accomplishments.

But just the same I am very LBYM oriented, since I don't want to be forced into working because I need income...

 

[samclem]

Here's an article that claims early retirement is hazardous to your health. I'm trying to add it as an attachment, but I'm not sure i'll be successful. The reference is: British Journal of Medicine published online Oct 21, 2005,
"Age at retirement and long term survival of an industrial population: prospective cohort study" Shan P. Tsai, Judy K. Wendt, Robin P. Donnely et al..
The authors seemed to try very hard to show that working longer makes you live longer--

The study is not worth much, as it fails to control for the variable that is immediately apparent to all of us. Buried near the end:

"We could not assess directly the issue of whether
employees who retired at a younger age were in poorer
health than those who retired later as data were not
available to identify the type of retirement for each
employee (for example, retirement due to disability
compared with normal retirement)"

Likewise, it's entirely possible that people are working longer because they have no choice.

I don't know which is more sad: Not being able to retire due to financial reasons, or not wanting to retire because nothing you can imagine doing is more fun that what someone else tells you to do.

 

[Nords]

Likewise, it's entirely possible that people are working longer because they have no choice.
I don't know which is more sad: Not being able to retire due to financial reasons, or not wanting to retire because nothing you can imagine doing is more fun that what someone else tells you to do.

Hey, they're the newest hot demographic. And they're not impoverished, they're unfulfilled!

After they fix SS with their payroll tax contributions, I look forward to seeing what they can salvage of Medicare.