Retirees Plan to Keep Working

That is what recent surveys by the AARP say. This is an important issue for economic development. Traditionally, many communities and states have been working on attracting retirees, especially those with money to spend. Now, some are trying to attract retirees with skills and professional backgrounds to help offset skill shortages in their areas. Retirees are planning to work longer for one simple reason--they must to supplement their retirement income.

Although the age of 65 has customarily been associated with retirement, previous research by AARp and other sources has suggested that many workers who are approaching the customary retirement age plan to continue working well beyond the age of 65. AARP conducted a nationwide telephone survey of 2,001 workers between the ages of 50 and 70 years old last summer to explore their vision of retirement and to better understand the types of jobs that workers who plan to work in retirement imagine holding and the types of jobs currently held by today's working retirees.

Findings reveal that most preretirees still cling to traditional images of retirement, such as spending more time with loved ones and receiving pension and Social Security benefits; however, the majority also report that their personal definition of retirement includes some form of work. Those who expect to work in retirement are considering a variety of occupations, including positions related to teaching, office support, crafts, retail sales, and health care.

Financial concerns represent the primary reason that many preretirees expect to work in retirement. Other common reasons for working in retirement include the desire to remain mentally and physically active and the desire to be productive and useful.

Go here to download the report at AARP.