Skip to main content

In the News

Retirees Are Back on the Job and Liking It, Survey Says | Maxwell Management group

19 June 2014—Center's study is mentioned on maxwellmanagementgroup.com.

Retirement no longer signifies the end of working life. In fact, the majority of Americans will continue to work after they retire, often in new positions with fewer hours. It’s the modern-day golden years.

According to a new retirement study by Merrill Lynch, 72 percent of pre-retirees (age 50-plus) want to keep working after they retire. And 4 out of 5 working retirees said they work because they want to, not because they have to.

Because financial need wasn’t reported as a driving factor for most working retirees, the study said, the seniors are seeking out jobs they want and working part-time hours. The retirees said they opted to work because they want to stay mentally and physically active, keep social connections and maintain a sense of self-worth. Ken Dychtwald, founder of Age Wage, the consulting firm that helped conduct the study, said in a press release:

Whether it’s continuing to do what they love, pursuing a long-desired interest or simply seeking to remain socially engaged, there’s a revolution brewing. People have come to realize that retirement doesn’t necessarily represent the end of an active life, but rather the beginning of new and exciting chapters.

The study found that more than half of working retirees took a break of about 2½ years before getting a job, often in a different line of work.

But Bloomberg said the study portrays an unrealistically rosy picture of a working retirement.

Not everyone can afford to take a few years off, and it’s not easy to find jobs that accommodate the lifestyles retirees say they want. A study this year by the Sloan Center on Aging & Work at Boston College looked at 545 workplaces and found workplace flexibility is “still a myth to most.” ...

Read the article »