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Thursday, February 17, 2011

Delaying Retirement

Since the mid 1980’s the number of people working past 65 has continued to grow.  In part it may be because we are living longer we feel like we have not accumulated enough money. Or it may be because we enjoy our work and feel that we are continuing to make a contribution. They are not mutually exclusive; our motivation may include both of them. However, as we age we become more vulnerable to disability and health care costs continue to rise. I soon will be having a bridge put in my teeth at a cost of $3,000. Last but not least inflation and the economic downturn are eating away at our financial assets.
         At 71 years old I will continue employment at the University until this August and even now I am gradually transferring over to my workshop presentations.
          In one research study carried out several years ago, 80 % of those 70 years old and older reported that they will continue to work. Many are self-employed and may be using their work not only for the money but also as less dramatic way to stop working all together. I believe that this would explain my own motivation to continue working.  I would like to here from some of you in similar positions.

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