The WSJ had an article today about retirees returning to work. The article reports that the number of Americans still working after age 65 dropped from the end of WWII until the late 80s. In the mid-90s, the share of older Americans in the work force began to climb. The BLS reports 20% of men and 12% of women over 65 are now in the work force.
The article goes on to state that a "small but significant number of Americans actually retire and go back to work--or try to." A market research firm (I know, TH, I know, potential bias), interviewed some of those who returned to work. Two thirds of those returning to work said they wanted to remain mentally alert and useful and they didn't return to work because they had to. The article goes on to state that this is probably misleading. It cited an AARP survey which asked those returning to work what was the one major factor and the most common choice was "need money." The second most common was "need health benefits."
Un-retirees are more likely to have a mortgage than those who stay retired.
In one survey, only 40% of the un-retirees said they were doing work that resembled their prior job. More than 40% said less skill and education was required in the new job.
The article concludes with the statement that "forcing cash-short older workers to take new, less productive (and less well-paying) jobs is a waste of scarce human resources."
The article goes on to state that a "small but significant number of Americans actually retire and go back to work--or try to." A market research firm (I know, TH, I know, potential bias), interviewed some of those who returned to work. Two thirds of those returning to work said they wanted to remain mentally alert and useful and they didn't return to work because they had to. The article goes on to state that this is probably misleading. It cited an AARP survey which asked those returning to work what was the one major factor and the most common choice was "need money." The second most common was "need health benefits."
Un-retirees are more likely to have a mortgage than those who stay retired.
In one survey, only 40% of the un-retirees said they were doing work that resembled their prior job. More than 40% said less skill and education was required in the new job.
The article concludes with the statement that "forcing cash-short older workers to take new, less productive (and less well-paying) jobs is a waste of scarce human resources."
. After we talked awhile I asked why she was working at Sears. She confided that retirement had gone bad due to poor investment advice from her trusted advisor. 
