Retirement Redefined
Posted on Tuesday, January 24th, 2012 at 10:08 am and filed under Retirement
The Families and Work Institute says that 75% of working people aged 50 and older plan to continue working in their retirement years.[1] While reasons for this vary, at the top of the list is the need to work for supplemental income, according to the study. Retirement portfolios have taken hits during recent tough economic times and others find that Social Security may not offer enough financial support.
Another large number of seniors enjoy working, want to feel useful, remain mentally and physically active, and they want to continue interacting with others. It is this group that researchers Howard Friedman and Leslie Martin say will live the longest because of their work ethic. According to their new book, The Longevity Project, researchers studied participants over eight decades and found that those with the most career success were less likely to die young. “It wasn’t the happiest or the most relaxed older participants who lived the longest,” the authors write. “It was those who were most engaged in pursuing their goals.”
This year, as the first wave of Baby Boomers face retirement, the word “retirement” itself begins to take on a new meaning. Today, retirement jobs are commonplace as seniors continue to work for one purpose or another. These jobs range from full- to part-time employment and can be important for aging, healthy seniors to remain happy and active in their later years.
CK Franchising, Inc. (the franchisor for the Comfort Keepers® franchise system) has seen interest in seniors wanting to work after retirement, whether it is as a caregiver, which they call Comfort Keepers®, or as a franchise owner. “Some feel the need to give back to society,” said Jim Booth, President and CEO of CK Franchising, Inc. “Others gained knowledge of in-home care by caring for a parent or other elderly relative and realized the need for high-level, trusted care in their communities.” Many people employed by local Comfort Keepers franchisees are retirees who have prior experience caring for a loved one. They enjoy helping others, as well as the flexible hours available for part-time work.
Working during retirement is not just a phase – it is a growing trend and we can expect it to continue. Not all seniors who work are doing so on a part-time basis. Many seniors retire from their primary full-time jobs and take on another full-time “second career” job.
Though the tough economy may play a part in the decision to work, plenty of retirees are working not because they have to, but because they want to. Maybe they finally have time to pursue their dream job, or happened – along life’s way – to find their niche. Whatever the case, there are a good number of retirement jobs available for seniors to choose from to fulfill their needs…or to help them realize their dreams.
[1] Brown, Melissa. Aumann, Kerstin. Pitt-Catsouphes, Marcie. Galinsky, Ellen. Bond, James T. Working in retierment: a 21st century phenomenon. Families and Work Institute (2008). Retrieved on 2/26/11 from http://familiesandwork.org/site/research/reports/working_in_retirement.pdf.