Live to Work

Some retirees say they get enjoyment out of remaining employed and making a difference



New Trends And Attitudes Have Changed Retirement

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“Mandatory retirement is quickly becoming an archaic dinosaur,” says Diane McDonald, author of Personal Finance: Tools for Decision Making, “With many people now retiring at 55 or 60 they can have 20 to 30 years of life left. Working will be a necessity once they do hit their ’60s, since their potential social security income might not be enough, even with retirement savings, to get by for the long lifespan people are living,” she noted. “A big mistake many people make in their financial planning is thinking their cost of living will decrease dramatically. Retirement is never as cheap as people expect. The real reality is that most people need to make 80 percent of their working salary to afford their retired lifestyle. It actually may be more than that, depending on a person’s health, since medical expenses (insurance premiums, non-covered medical care, prescription drug costs) can easily eat away at savings,” McDonald warns.

A recent survey of employees nearing retirement age, conducted by the Employee Benefit Research Institute, stated that more than two-thirds of workers intended to work for pay after they retire.

A Business Week survey of people hitting retirement age revealed that 67 percent of those polled said they wanted to work but sought positions with:
*Lower stress
*Flexible hours
*Enjoyment derived from performing the work
*The feeling of making a difference

So what about age discrimination? When these mature retirees need to return to work, will employers hire them?

Enthusiastic, productive workers are wanted by employers no matter what their age. In fact, maturity is often an asset you can bring and sell to potential employers. “I’ve had a great deal of experience handling and solving the specific kinds of problems you face here.” Nonprofits, governmental agencies, colleges all seem to see the value in older workers. So does corporate America. At this stage in your life you have a choice. Do look for companies that embrace mature, dependable workers. Your dependability is a major value to employers who often have challenges with working parents. Mention you have “no at-home conflicts” to persuade employers to recognize your dependability appeal. Pick an organization reflective of your goals and objectives.