The Secret to a Rewarding Retirement? KEEP WORKING!!!

[ExFlyBoy5]

Well, not my opinion of course, but that was the gist of an article from CNBC from today.

Recent data from the Employee Benefit Research Institute showed that nearly 80 percent of workers say that they'd like to continue working after retirement.

Uhhh...what?

I'm sorry, but you can certainly NOT count me in the 80% as cited. But then again, I am not a w*rker, so they may not care about my opinion!

Here's the secret to a rewarding retirement: Keep working

 

[Clone]

The longer I work, the more I can save
The more I have saved, the earlier I can retire

Therefore-

The longer I work, the earlier I can retire!

I know of several folks who retired from mega-corp and are now working part time at Home Depot or similar. They enjoy tinkering with things, and working with people. The stress level drops to near nothing, and they don't need the money from the job. They enjoy the social aspect of the job.

It may not be the path that many of this forum may choose, but that does not make it the wrong path. Just a different path.

 

[brucethebroker]

They lost me at " 80 percent of workers say".....

Why not ask full time retirees their opinion, instead?

 

[brucethebroker]

The longer I work, the more I can save

I know of several folks who retired from mega-corp and are now working part time at Home Depot or similar. They enjoy tinkering with things, and working with people. The stress level drops to near nothing, and they don't need the money from the job.

They don't need the job.....Hence the drop in stress level....

 

[MichaelB]

Here's the EBRI study CNBC was quoting https://www.ebri.org/pdf/surveys/rcs/2017/IB.431.Mar17.RCS17..21Mar17.pdf

It seems they left out the second half of the sentence (my bold)

The percentage of workers planning to work for pay in retirement now stands at 79 percent, compared with just 29 percent of retirees who report they have worked for pay in retirement (Figure 28).

So, 79% say they'll work in retirement, but only 29% actually do.

 

[Philliefan33]

I might agree with articles like this if the conclusion was "keep busy" instead of "keep working". I believe retirees are happier when they have something to do every day -- and that something can be whatever you want. Go for a walk, build something, cook, eat, read, nap...whatever keeps you busy.

 

[Teacher Terry]

I have read that many retirees want to work p.t. in retirement but can't find jobs.

 

[NYEXPAT]

I think I saw this before and it struck me as odd that 50% of people between 50-64 are retired already. If this is true, the powers that be, should put more effort into their membership drive.

 

[Walt34]

I have read that many retirees want to work p.t. in retirement but can't find jobs.

We had planned on it, mostly because (I guess) we lacked the imagination to envision how nice full retirement can be. I did stumble into a nearby low-stress job and stayed there for several years but when the pay and environment went downhill it was nice to have the option to quit. DW did apply for several jobs but none panned out and then FIL's aging issues took so much of her time that she was glad to not have a job.

 

[DrRoy]

The longer I work, the more I can save
The more I have saved, the earlier I can retire

Therefore-

The longer I work, the earlier I can retire!

If I'm working, I'm not retired!

BTW, 3 days to go!!!!!

 

[Ready]

My biggest concern when I retired from full time work four years ago was that without the intense challenges of running a business, my mind would lose focus and become mushy. I need a lot of mental stimulation to keep my mind active. And I also need to keep busy. I'm not one to sit around.

I have found a solution to this by doing two things:

1) Part time work, from home, which allows me to stay in my industry and have some challenges but without the office hours or stress and demands of full time work.

2) A rigorous exercise schedule, which I consider to be my other part time job. I'm learning to swim, and taking lessons to practice my stroke. And I'm pushing myself harder and harder to exercise longer and burn more calories, and become more efficient with my swim stroke. It's actually much harder work than a "job", but I feel really good when I'm done.

Not everyone will need the part time work to stay busy. Many have replaced work with hobbies, family time, leisure, etc. But it's not for everyone. And for someone like me, who has been in the work force since I was 14 years old, this is a pretty radical change in lifestyle. So far it's worked pretty well for me.

 

[harley]

I was going to read the article, but it seemed too much like unpaid work.

 

[Dawg52]

I remember saying I might try finding a fun part-time job when retired. I never looked for one.

 

[JustCurious]

Go for a walk, build something, cook, eat, read, nap...whatever keeps you busy.

LOL, napping keeps you busy? That seems to stretch the definition of "busy" too far for me.

 

[Totoro]

• Four in five people currently working say they want to keep working.

• One in five people actually do keep working.

Actual conclusion: three in five people do not know what they will want when they approach retirement age.

Which is pretty consistent with most studies: Most people are really bad at imagining themselves in 5, 10, let alone 30 years time.

 

[MichaelB]

• Four in five people currently working say they want to keep working.

• One in five people actually do keep working.

Actual conclusion: three in five people do not know what they will want when they approach retirement age.

Which is pretty consistent with most studies: Most people are really bad at imagining themselves in 5, 10, let alone 30 years time.

This is my conclusion as well. An alternate view might be that once people get a taste of retirement, it is so much better than what they expected they give up all thought of continuing to work.

 

[Paracelsus]

I did inquire about transitioning from full-time work to part-time work for a year or two before full retirement, but that wasn't an option at my previous corporate job. I would have to become an independent contractor (not solely for this company) or work as a contract employee, both of which I didn't want to do.

I did retire at the end of last year, and am working part-time in a circus doing administrative work - lots less stress and I have fun also, about ten hours a week on two days. I don't NEED the money, but it does pay for my health insurance premiums these days through ACA. I have fun with this job, and enjoy my accountability with this organization. I'll also be adding a half day volunteering at an animal shelter this summer. I like some job structure, but love not having the stress of my previous job .

 

[Midpack]

I might agree with articles like this if the conclusion was "keep busy" instead of "keep working". I believe retirees are happier when they have something to do every day -- and that something can be whatever you want. Go for a walk, build something, cook, eat, read, nap...whatever keeps you busy.

+1. And some people are actually happier working than not, nothing wrong with that. As long as you're active at something, life is good. Boredom is a potential pitfall for retirees, but there are endless cures...

 

[mystang52]

I might agree with articles like this if the conclusion was "keep busy" instead of "keep working". I believe retirees are happier when they have something to do every day -- and that something can be whatever you want. Go for a walk, build something, cook, eat, read, nap...whatever keeps you busy.

I agree. Some people are genuinely happy working past traditional retirement age (my next door neighbor is 67years old, and loves his full time job as a civil engineer). But the supposed 80% that want to continue working after retirement seems like a contradiction in terms. Hmmm, maybe a good number of those HAVE to work to supplement their retirement income?
I also think there's a strong bias in this author, based on this quote: "People go into mourning when they retire," she said. "Your whole identity is caught up in who you are and what you did." Maybe for some people, but this across-the-board statement is simply not true.

 

[Car-Guy]

I don't read articles from CNBC, especially when I see a summary that says something like 80% of workers would like to continue to work after they retire. If I want to read fiction, I rather read something from Stephen King or Tom Clancy.

I know a lot of people and I only can think of "one individual" who really wants to continue to work after he could have clearly retire. Now, I do know some people that continue to work because they "need" (for more $$) to work, but that's a lot different in my book than saying they would "like" to continue to work.

 

[Car-Guy]

• Four in five people currently working say they want to keep working.

• One in five people actually do keep working.

That seems to be more reasonable/believable.

 

[Closet_Gamer]

LOL, napping keeps you busy? That seems to stretch the definition of "busy" too far for me.

Dunno...when I nap I do it in a big way. I could nap competitively.

 

[jimbee]

I also think there's a strong bias in this author, based on this quote: "People go into mourning when they retire," she said. "Your whole identity is caught up in who you are and what you did." Maybe for some people, but this across-the-board statement is simply not true.

That statement sounds like projection by the author.

 

[Chuckanut]

FWIW, most of the people I know who are happily working after retirement are those who have control over their time and what they do. They are in positions where they can take two weeks off to visit the relatives out of state without having to ask permission and bargain for the time. Likewise, on the days they go into the office they can go in at 8:00 AM and work until Noon, or play 9 holes of golf and go in after lunch.

There world is far different from most of us who have to give up much of our control over over our time to continue working. My 2¢, YMMV.

 

[ejman]

I don't read articles from CNBC, especially when I see a summary that says something like 80% of workers would like to continue to work after they retire. If I want to read fiction, I rather read something from Stephen King or Tom Clancy.

I know a lot of people and I only can think of "one individual" who really wants to continue to work after he could have clearly retire. Now, I do know some people that continue to work because they "need" (for more $$) to work, but that's a lot different in my book than saying they would "like" to continue to work.

It kind of makes me think about that quip "75% of statistics are made up on the spot"