More people are working in their 80s

[ShokWaveRider]

I would never consider working beyond where we quit (~55). We had the means, we quit. If I had a company, I would have either sold it or handed it to a trusted individual. However, I can understand why those who love their job do, think Buffett. But for the average Joe (OK Ian) like me, being FIRED was really Very, Very rewarding.

Working at Walmart as a greeter (or similar) does not constitute work IMHO, but as a necessity for the folks that need to in order to get by.

 

[Exchme]

A recent blog post with links to a study that showed 28% of retirees are depressed with commonly self-reported issues being things like loss of purpose, loss of sense of identity, social isolation, loss of structure, boredom.

https://www.theretirementmanifesto.com/why-28-of-retirees-are-depressed/

So it's not surprising that some folks that are blessed with good health and high energy in their 80's want to stay engaged, busy and use their lifetime of expertise. That's just how they are wired.

It's also not surprising that a forum dedicated to early retirement like this one is mostly made up of folks that found other paths to fulfillment.

 

[Badger]

I figure I have taught/prepared somewhere between 7-8k students during my career in academia in challenging classes of Anatomy/Physiology. Most went on to become successful in medical careers as doctors, nurses, physical therapists, etc.
Even though I was considered a demanding professor my classes were always full.
Even retired and 74 years I still have the opportunity to return to the class if I wanted but I figure I did what I could to be relevant, to make my life worth the existence, and to give those with the fortitude a chance to devote their life in helping others.
Would I go back to the classroom now? No. I was fortunate through all the years to be left alone to do my job without interference but academia has become a much different environment as well as the attitudes of many in administration. Time for me to focus on other pursuits.

Cheers!

 

[Koolau]

It was kinda interesting. There was a time when I felt "relevant" at Megacorp. By the time I left, I realized no one would even miss me. Everything I'd ever hoped to accomplish at Megacorp was complete. Some of it is still there though Megacorp doesn't even know it.:cool smiley:

My relevance always had more to do with what I did outside of Megacorp. Retirement gave me more time to be relevant on the outside.

Heh, heh, as far as w*rking into one's 80s. I couldn't do it now in my mid 70s.

 

[badatmath]

I don't miss being "relevant" I miss being PAID. Wasn't ready to leave when laid off but don't see much point in a mcjob either. IDK.

 

[Freedom56]

My FIL turned 88 this past May and he still manages his rental properties (his primary source of income). He enjoys the social interaction with others that are younger at a time when most of his close friends have passed away.

 

[friar1610]

Right after I retired at 58 I took on a volunteer gig at an inner-city adult learning center as a tutor in reading and basic math. I was there 2x weekly for about 5-6 hours each day doing both one-on-one tutoring and small-group teaching. I really enjoyed it - I found the “work” interesting, the time commitment just about right and the interactions with learners fulfilling. After doing that for 2 years we relocated and I’ve never been able to find another volunteer job that checked all the boxes quite as well as that one did, although I’ve volunteered a fair amount intermittently since then. (I’m 78 now). I definitely wouldn’t want (nor did I then) a paying job where I had to answer to someone, attend meetings or supervise others. But a satisfying volunteer “job” where you can control your time commitment and feel like you’re doing something worthwhile is perfect as far as I’m concerned.

 

[Timeisprecious]

All I can say is, sure glad it's not me!

 

[Timeisprecious]

I've never had a job that I enjoyed half as much as retirement. I'm FI so why would I even think about working.

I TOTALLY agree!

 

[Koolau]

Over the years, I've found that I have helped people do the stuff I hate. Not just don't like, but hate. I'm talking about helping someone move. Or, worse, painting!

I think I do it because I assume they hate such things as much as I do. Therefore, my help is a "gift" I can give that is very valuable to the receiver.

Oddly, it is those exact times when I feel relevant! Go figure!

 

[wrigley]

My mother was 72 when she finally stopped working. She spent many years at "Big Oil" and they presented a very lucrative financial package to her to retire that she couldn't pass up. I know she would have continued to work as long as she could have.

Mike

 

[misanman]

Brother is 92 and still runs his own business with 5 employees. Not sure what motivates him exactly as he also has hobbies and plenty of outside activities. He did get someone to mow his 3 acre lawn this year so I guess he's slowing down a bit.

 

[MarieIG]

I knew a lawyer who was still working in his 80s. Wait for it -

His mother worked part-time in his office as a receptionist. The clients loved her, and she enjoyed the interaction.

 

[wrigley]

Brother is 92 and still runs his own business with 5 employees. Not sure what motivates him exactly as he also has hobbies and plenty of outside activities. He did get someone to mow his 3 acre lawn this year so I guess he's slowing down a bit.

That's why he made it to 92 and hopefully many more bdays to come!

 

[ER Eddie]

My take is that "relevance" is a word that is clumping together several different issues:

1) A need to feel useful to others/community.

2) An attachment to the status of the job role. Americans are a very status-conscious people, and some don't like the status drop they perceive in retirement.

3) Social connection.


I don't care about social status, so that hasn't been a factor, but the other two have. I've been retired 4 years, and I need to consciously build those other elements in.

A recent blog post with links to a study that showed 28% of retirees are depressed with commonly self-reported issues being things like loss of purpose, loss of sense of identity, social isolation, loss of structure, boredom.

https://www.theretirementmanifesto.com/why-28-of-retirees-are-depressed/

Fwiw, that rate isn't any than rates of depression in older adults generally.

"This systematic review and meta-analysis of 48 studies involving 72,878 older adults demonstrated that 28.4% of the older adults screened positive for depression."

https://www.sciencedirect.com/scien...er adults varied widely, ranging,et al., 2021).

So, it is probably not retirement per se that is the cause, but rather the stuff that brings everyone down, retired or not.

 

[Koolau]

My mother was 72 when she finally stopped working. She spent many years at "Big Oil" and they presented a very lucrative financial package to her to retire that she couldn't pass up. I know she would have continued to work as long as she could have.

Mike

I've told the story before that my dad "retired" at 65 from the family business. That way, he got SS to help pay for my youngest sister's college. But dad continued to come in and tell everyone how it used to be done. Eventually, DW told him to find something else to occupy his time. Years later when mom was 80, DW had to "fire" her. She did much of the phone w*rk and people could tell she was confused.

I called DW a "rigid, spiteful, straight-razor-totin'" woman. She was NOT amused.

But both parents seemed to get their relevance from their w*rk. Sad, really. Good thing they didn't pass it on to me.

 

[dknighd]

I'm not 80 yet. I'm glad I'm not having to work for money anymore.

 

[F.I.R.E User]

Maybe, some wealthy people are bored and want to be a Walmart greeter?

 

[athena53]

Maybe, some wealthy people are bored and want to be a Walmart greeter?

I know- a friend has what she calls her “fun job” waitressing at a dinner theatre. Not my thing but I’m happy for her.

 

[F.I.R.E User]

I know- a friend has what she calls her “fun job” waitressing at a dinner theatre. Not my thing but I’m happy for her.

Extra play money too.

 

[Mr._Graybeard]

Maybe, some wealthy people are bored and want to be a Walmart greeter?

Some years ago the local news reported on a 100-year-old woman who was working as a Walmart greeter. The first story was pretty superficial, and it kind of left the impression that she was sweet and cuddly, everyone's grandma.

The follow-up came when she got into a beef with an African-American woman as the shopper was leaving the store. It seemed that the greeters also act as an informal "inventory control" security screen. Granny stopped the woman and started examining her receipt, making comments about "you people." The woman snatched her receipt away, and Granny took a fall in the process. Police were called.

Upon further review, it turned out that the greeter disliked the work but needed the job to make ends meet for a household she shared with a 70-year-old son who liked to live beyond their means. It also became clear that she had some unpleasant racial prejudices.

The shopper initially was arrested for battery but the charges were quickly dropped. And presumably Walmart reconsidered having a 100-year-old woman work as security.

 

[Time2]

At 68, retired 7 years, my son had a work project requiring some electrical/electronic equipment. I had some equipment in storage (for too many years, but not about to discard it ) and put together what he needed to do the tests, then as I read about the process, I found there were additional things to make for the process. I spent 2 months building equipment. When he took it all to work, I felt a real let down, I was so focused on the build, then suddenly I have nothing.
My son said his boss ask if I wanted a job, NO way, I want to do, what ever it is I want to do, on my schedule!
I have found another aspect of the project, more of a mechanical build and have taken that on, so I'm engaged again. Now, testing my glass cutting ability, (6 tries, 4 successes, all I need.) and waiting for info on glass adhesives that will hold up in an oil bath.

 

[shafer9]

Depends on your definition of relevant.

And if you like working. I dumped my advertising business years ago, it was fun 40% of the time and that was enough.

But my whole life,, I played in rock and blues bands. I’m 78 and still do it 4-6 times a month and love it. Yeah, It gets tougher physically each year but the payoff still beats the price.

We Have already traveled extensively (still do) and I’m a seriously lucky guy. Had a bad bout with cancer at 61, so I’ve been living in the bonus round for years.

 

[martyp]

I’m proud of my 30 year science/engineering career. It was fun and interesting. Then came the technology changes and downsizing and it wasn’t as much fun anymore. I saw that I had a good pension coming so I retired at 55. Absolutely no regrets. My career was in the past. I made my contribution to society. Now I just live for myself and the people around me.

 

[JoeWras]

Right on, martyp.

My greatest gifts to myself and my coworkers was checking out on my own terms as I lost interest and competence.

I still do stuff for myself and others, but it is 180 degrees away from engineering and padding a CEOs pocket.

Fulfilled and happy.