As the world population continues to age, the number of people over the age of 65 who are still working has increased steadily in recent years. According to recent statistics, approximately 23% of people over the age of 65 are still working.
ORLANDO, FL, June 29, 2023 /24-7PressRelease/ — “There are a number of reasons why people over 65 are choosing to keep working. For some, it is an economic necessity,” explains Jonathan Ainsley, founder of InvestInU and a thought leader on the subject of flourishing longevity. “As the cost of living continues to rise, many people find that they need to keep working in order to support themselves financially. For others, however, it is a matter of personal satisfaction and fulfillment. Many older adults find that they derive a great deal of pleasure from their work and enjoy the sense of purpose it gives them.”
There are also a number of health benefits associated with working beyond retirement age. Studies have shown that staying active and engaged can help to stave off cognitive decline and keep our minds sharp. Working can also help to keep us physically active and fit, which can reduce the risk of a number of health problems.
Of course, there are also some challenges associated with working past retirement age. For one, older workers may have to contend with age discrimination in the workplace. Many employers assume that older workers will be less productive, less motivated, and more prone to health problems, which can make it difficult for them to find employment.
Overall, the percentage of people over the age of 65 who are still working is on the rise, and there are a number of reasons why this trend is likely to continue. From financial necessity to personal fulfillment, there are many reasons why older adults may choose to stay in the workforce. While there are certainly some challenges associated with working past retirement age, the benefits can be significant, both for individuals and for society as a whole.
Are We Retiring The Concept of Retiring?
Explains Jonathan Ainsley: “Retirement is often thought of as the time when people kick back and relax, enjoying their hard-earned rest from years of hard work. However, it seems that many individuals are eschewing the traditional notion of retirement and are instead starting new careers after leaving their previous ones behind.”
Firstly, the financial benefits of continuing to work cannot be ignored. With increases in life expectancy and rising cost of living, many people find that their retirement savings may not stretch as far as they anticipated. By taking up a new career after retirement, they can supplement their income and ease any financial concerns. Additionally, taking on a new job can provide access to benefits such as health insurance that they might not otherwise have.
Secondly, it is becoming increasingly common for people to work beyond the traditional retirement age. In some careers, such as medicine or law, individuals may work well into their seventies or even eighties. Rather than taking a full-time position, however, some may choose
to switch to part-time or consultative work, allowing them to continue contributing to their field while also enjoying some downtime.
Thirdly, starting a new career can provide individuals with a sense of purpose and fulfillment. After years of working in one field, some may feel that they have become stagnant or have unfulfilled goals. By embarking on a new career, retirees can reignite their passion for work while also exploring new avenues and expanding their skill sets.
While the reasons for starting a new career after retirement may vary, it is clear that this trend is becoming increasingly common. Whether it is to supplement their income, continue working in their field, or discover a new sense of purpose, many older adults are finding that retirement does not necessarily mean the end of their careers.
Learn more about extending your working life past 65 at longevityplanning.me
Jonathan Ainsley is a mentor in cutting-edge programs to help employers, advisors, and employees plan and benefit from the fact that people are living longer than ever before. He accomplishes this via workshops, consulting, and mentoring to optimize longevity.
He is also the founder of InvestInU in which the Mission is to bring simple yet powerful programs to help you (no matter your age) benefit from this gift of a longer lifespan that humanity has never experienced before.
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