Over half of older employees plan to work 'indefinitely' and never retire
Over half of older employees plan to work 'indefinitely' and never retire
Money Magazine; by Amd Hardy; 8/11/25
Many retirement-age Americans are planning to continue working — forever. Some 51% of employed Americans 65 or older say they expect to work “indefinitely,” according to a recent report from Asset Preservation, a financial advisory firm. Meanwhile, about 6 in 10 respondents say they plan to work “at least five more years” before retiring, putting the earliest age they would consider retiring at 70. ... Why older Americans are working so late in life seems to be a fairly even split between necessity and choice. About one half works to cover basic living expenses, like food, health care and housing, while the other half chooses to work to stay mentally and physically active.
Guest Editor’s Note, Mark Cohen: As many hospices are still trying to rebuild the ranks of their volunteers to pre-pandemic levels, this report indicates the challenges may continue to grow. It’s worth noting that half of the Boomers who say they will continue working past normal retirement age would do so out of choice and not economic necessity. That opens the door to demonstrating the value and rewards of volunteer service. And for those volunteer managers younger than Boomers, it’s important to keep in mind that, more than any other generation, Boomers define themselves and measure their success in life in large part by their work.