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Working Past The Traditional Retirement Age Offers Psychological Benefits As Well As More Money To Pay For Necessities, says AMAC

retirement money workWASHINGTON, DC – Retirement isn’t what it used to be—a time for taking it easier in our old age and avoiding the stress and excitement of the workaday world.  Maybe it’s because we are living longer than ever before making retirement a pricey option.  Then again, perhaps the miracles of modern medicine can make us more energetic in our sixties, seventies and eighties and more seniors find a sedentary lifestyle is just too boring.

The fact is, according to the Association of Mature American Citizens, more of us are opting for active, productive lives as we grow older.  In fact, the Bureau of Labor Statistics reports that the labor participation rate for men 65 to 69 years of age in 1994 was 26.8% and that by 2024 it will be 40%.  As for women in the same age group, just 17.9% remained in the workforce in 1994 but by 2024 32.8% of them will still be employed.

AMAC president Dan Weber says that “while working past the traditional retirement age of 65 is a necessity for many seniors, it also provides psychological and emotional benefits.  Research shows that many older workers say they like what they do for a living and that working makes them feel valued.”

The Milken Institute Center for the Future of Aging put it this way in recent testimony provided to the U.S. Senate Committee on Aging: “A growing body of research suggests that purposeful aging, engagement, and working toward goals as we age, offer significant health benefits for older adults and solutions to an array of other societal challenges.  It is well documented that purpose is important for longevity as well as vitality, productivity, and lower rates of cognitive decline, stroke, and heart attack.”

Weber points out that older Americans are active these days and don’t like the idea of giving up their careers.  “Seventy is the new 50, but some seniors feel like they are 40 years old again.  For one thing, people are not only living longer, they’re living healthier, more active lives and so the concept of retirement has undergone a remarkable change.”

Every day 10,000 people in the U.S. reach the age of 65 and it is worth noting that with the aid of modern medicine 25% of them will live past the age of 90.

“It boggles the mind to think about wasting all the irreplaceable experience and knowledge that these older workers have gained over their lifetimes.  It is truly a homegrown resource we need to exploit for the future of our nation,” says Weber.

ABOUT AMAC

The Association of Mature American Citizens [http://www.amac.us] is a vibrant, vital senior advocacy organization that takes its marching orders from its members.  We act and speak on their behalf, protecting their interests and offering a practical insight on how to best solve the problems they face today.  Live long and make a difference by joining us today at http://amac.us/join-amac.

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Rik

I’ve read recently that by 2020 half the working populace will be self-employed. I can believe it! I spent 44 years in print publications in sales, management and ownership. That industry is almost defunct because of the internet. Because of the greed of both unions and management (owners) much of our manufacturing is now out of country especially due to high labor costs, high taxes on all city, state and federal levels, and just plain greed of owners. Of course, having 40 million, and yes, it’s at least 40 million illegals taking ALL the jobs in farming, restaurants, and anything construction related. Today’s American youth are spoiled having never knowing or experiencing the satisfaction of earning monies in return for an honest day’s work. Then again, who would hire these “spoiled” purple haired, pierced, tattooed imbeciles anyway? And then they see professional athletes making millions of dollars “playing” sports? I… Read more »

Leann

In paying for home owners insurance, flood insurance, vehicle insurance, taxes, monthly bills that all keep going up its no wonder a person can’t retire if they wanted to. When it comes to retirement health insurance on average to get a good plan one almost has to pay out up to $500. a month. This article is misleading for as it is only a matter of survival. In my youth I only lacked two years of being fully invested but they laid me off so eight years were wasted. What IRA, 401K plans I do have now don’t pay out any thing as have lost money in the 401K. Even what you have saved it doesn’t pay any thing. In being honest most retires are having to work for survival instead of being able to retire if they wanted to.

Anita Johnson

I did not become employed full-time until I was 42. My children were born when I was 17, 20 and 22, so my job was raising them. I drove a truck for over 21 years. In Nov., 2008 I “retired” to be with my mother full time. (I’m an only child.) Her health was getting worse and I didn’t feel comfortable leaving her alone all week. God took her home on Dec. 31, 2012. In 2016, I returned to my chosen occupation; truck driving. For me, it was a good decision both financially and emotionally. I “survived” on Social Security, but by no means did I “live” on it.

Ron

I retired at age 72 and can attest that I am healthier because I worked past my “expected” age. But wait – there’s more – i have yet to stop working. In fact, I have the privilege to be taking care of family members who have medical issues and am busier than ever. Am I complaining? Not at all. My late retirement was both fiscally necessary and desirable for my “mental state.” I loved working. With my late retirement, I fulfilled the desire to humbly mentor several people and, hopefully, help them raise their opportunities for their own future. When I wound-down my career, i was able to easily slide into my new career of managing the home, nursing my loved-ones, and enjoying old friendships. No, I am not wealthy. But I am happy, and thank God for every day. I am not retired, politically. I worry about the new-age… Read more »

Kim

Retire??!! Not interested!

Douglas Sommer

Your advocacy for extending the retirement age is based on false premises. Lifespans are actually going down not up in the US. Cubans have greater longevity than Americans. All too many Americans have had their careers cut short through no fault of their own due to ageism illegal immigration bad trade deals industry consolidation etc. Double that for ageing white males who are not included in inclusion and are the only unprotected class in PC America. Your views on retirement and medical care are delusional for the most part. Amac should try to do better. Start with advocating a COLA for social security recipients.

Tricia

I am really (and I mean REALLY) getting tired of hearing how great it is to keep on working until you drop dead at your job. I am 74 and my husband is 76. We have physical problems, but we still HAVE to keep working to supplement our puny social security income. So, you ask, why didn’t we save up for retirement? WE DID! But thanks to the people that are supposed to work FOR us in government, both of the recessions (1990s & 2008) wiped us completely out. So, we are now FORCED to continue to work to survive…with no hope of being able to travel or enjoy the mythical “Golden Years.” My Social Security income of $681 per month won’t even cover the ever increasing food bills. And that brings me to the ridiculous COLA. Can anyone name ANYTHING that hasn’t increased in price every single year (or… Read more »

Olney Falcon

“Every day 10,000 people in the U.S. reach the age of 65 and it is worth noting that with the aid of modern medicine
25% of them will live past the age of 90.” … Wouldn’t surprise me if half the Boomers got that far, and half of that
batch got to 100 and beyond… Being one of them, most of my friends and acquaintances are eating right and exercising
hoping to get to the next ‘medical breakthrough’ to get them more time…

Shady

It’s a two edged sword, this “active older age proposition… there is no escaping politics, taxes and modern medicines side affects… we older drivers often set a very poor example for our “less mature younger adults”… never saw so many one finger salutes before. And our posts are way too long.