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Yo_Mama_Been_Loggin

(107,063 posts)
Wed Nov 13, 2019, 05:19 PM Nov 2019

Is retirement dying? The old work model is disappearing for Boomers, Gen Xers

More Americans are opting to work well into retirement, a growing trend that threatens to upend the old workforce model.

One in three Americans who are at least 40 have, or plan to have a job in retirement to prepare for a longer life, according to a survey conducted by Harris Poll for TD Ameritrade. Even more surprising is that more than half of “unretirees” — those who plan to work in retirement or went back to work after retiring — said they would be employed in their later years even if they had enough money to settle down, the survey showed.

Financial needs aren’t the only culprit for the “unretirement” trend. Other reasons, according to the study, include personal fulfillment such as staying mentally fit, preventing boredom or avoiding depression.

About 72% of “unretiree” respondents said that they would return to work once retired to keep mentally fit while 59% said it would be tied to making ends meet.

“The concept of retirement is evolving,” said Christine Russell, senior manager of retirement at TD Ameritrade. “It’s not just about finances. The value of work is also driving folks to continue working past retirement.”

https://www.msn.com/en-us/money/retirement/is-retirement-dying-the-old-work-model-is-disappearing-for-boomers-gen-xers/ar-BBWG1AF?li=BBnbfcN

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Is retirement dying? The old work model is disappearing for Boomers, Gen Xers (Original Post) Yo_Mama_Been_Loggin Nov 2019 OP
ZERO need for a job in retirement to stay "mentally fit", if you have hobbies and interest, you beachbumbob Nov 2019 #1
I was going to say just that but ... DBoon Nov 2019 #6
Yes, and who needs the stress, and the one a-hole in every office. And your time is your own. brush Nov 2019 #8
This is like predictive programming... Newest Reality Nov 2019 #2
Dontcha love it? I call it pre-emptive propaganda. Don't even let the peasants THINK Nay Nov 2019 #17
As someone who is semi-retired, there is a lot of satisfaction working, knowing that you can tell Hoyt Nov 2019 #3
Lucky enough to have retired at age 50.... Not rich but comfortable. I LOVE IT. Goodheart Nov 2019 #4
I'm with you! People need to use their imagination in retirement. smirkymonkey Nov 2019 #5
Nearly everyone in my age group (GenX) Bettie Nov 2019 #7
My wife retired at 60. I barely know the menaning of the word. Got that from my dad. DFW Nov 2019 #9
I retired at 69 because it was, yet again, lunatica Nov 2019 #10
You can if you have a pension PasadenaTrudy Nov 2019 #11
And fewer jobs offer a defined pension these days. Yo_Mama_Been_Loggin Nov 2019 #12
I am afraid Delphinus Nov 2019 #13
I am well north of 70. I **can** retire. I choose not to. Having **way** too much fun. Stinky The Clown Nov 2019 #14
My husband is almost 73 and self-employed. He's been experiencing a seasonal Vinca Nov 2019 #15
I work with 2 people that are over 70. They work because they want to, not because they Luciferous Nov 2019 #16
My husband Raftergirl Nov 2019 #18
 

beachbumbob

(9,263 posts)
1. ZERO need for a job in retirement to stay "mentally fit", if you have hobbies and interest, you
Wed Nov 13, 2019, 05:20 PM
Nov 2019

still lack the time needed to do them.

DBoon

(22,285 posts)
6. I was going to say just that but ...
Wed Nov 13, 2019, 05:47 PM
Nov 2019

given the demands that many employers make, employees often do not have the time or energy to engage in outside activities.

Salaried with unpaid at whim overtime requirements, need to be on call after hours, etc have become the norm

Newest Reality

(12,712 posts)
2. This is like predictive programming...
Wed Nov 13, 2019, 05:36 PM
Nov 2019

Some people want to keep working because that's what they like to do and that's just fine.

If they are saying that we all must and have to work, (and some work can be very physically taxing and even harmful for the aged) until we drop, then that's no at all acceptable.

In my mind, the idea of retirement is that you put your time in, do your thing and, if you had good circumstances at least, you then have the reward of being able to opt-out, do what you want and enjoy the time you have left without too many concerns or cares and with a decent standard of living.

This model they espouse is just an extension of the cradle-to-grave treadmill and a rather republican view of keeping them busy and working until they drop. As I said, if it is an option, then fine, work as long as you like--if you can find work, that is. However, I really find this kind of "value of work" noise to be symptomatic and leading to say the least. I don't buy it.

Nay

(12,051 posts)
17. Dontcha love it? I call it pre-emptive propaganda. Don't even let the peasants THINK
Wed Nov 13, 2019, 06:36 PM
Nov 2019

about retirement -- keep telling them they should LOVE work, it's GOOD for you, blah blah blah. I've been hearing this shit for 20 years. You know what's hysterical? When you turn 45 or 50, lots of employers will be dumping you. They're doing that now. Younger employees are cheaper, more malleable, and easier to scare.

I had a very nice job but retired at 62 because of illness -- I'm OK now, but I saw that I might not live as long as I thought I was going to, and got out.

I missed going to work for about 30 minutes. I love retirement. I have art projects, the gym, crocheting and knitting, and tons of reading keeping me busy. I sleep like a baby since I don't have any work pressures and have been able to try a series of herbal remedies for sleep. It's funny -- for 3 years after retiring, I still would have anxiety on Sunday afternoons because my body felt that the next day was the first workday of the week. I LIKED my job, but it still made me anxious!

 

Hoyt

(54,770 posts)
3. As someone who is semi-retired, there is a lot of satisfaction working, knowing that you can tell
Wed Nov 13, 2019, 05:38 PM
Nov 2019

people to kiss your ass and that you won't starve when fired.

Have plenty of hobbies, interests, family, etc., to occupy my time.

The extra money certainly helps. There are still weeks where I work over 60 hours, but I have weeks where I don't work at all. Beginning to cherish those more and more.

I like it. When I don't, I'll tighten up a little more financially and tell people to stop harassing me to do work for them.

Goodheart

(5,264 posts)
4. Lucky enough to have retired at age 50.... Not rich but comfortable. I LOVE IT.
Wed Nov 13, 2019, 05:40 PM
Nov 2019

Mentally fit? I have a ton of hobbies and interests. Reading, crafting, hiking, 3d printing, woodworking, writing....

"Work" means being bossed around by other people. Who needs that?

 

smirkymonkey

(63,221 posts)
5. I'm with you! People need to use their imagination in retirement.
Wed Nov 13, 2019, 05:46 PM
Nov 2019

There are so many other interesting things to do where you don't have to put up with other people that you don't choose to be around. Some people really have jobs that they love, but I think those people are few and far between.

As long as you are financially comfortable, retirement should be a joy, not a punishment.

Bettie

(15,997 posts)
7. Nearly everyone in my age group (GenX)
Wed Nov 13, 2019, 05:47 PM
Nov 2019

knows that retirement isn't in the cards. All we can really hope for is not to leave a bunch of debt for our kids.

DFW

(54,050 posts)
9. My wife retired at 60. I barely know the menaning of the word. Got that from my dad.
Wed Nov 13, 2019, 05:48 PM
Nov 2019

My dad was involuntarily retired by terminal pancreatic cancer at age 78. When he hit 70, his idea of slowing down was going to Washington only 4 days a week instead of 5 during slow news cycles. He was still writing columns until 2 weeks before he died. While he was wasting away, he heard that there was a proposal to "save money" from (either Medicare or Medicaid, I forget) by reducing the covered amount for outpatient hospital visits from 95% to 85%. Being no stranger to hospitals after being diagnosed with pancreatic cancer 6 months before, he knew what that would mean. He still had the clout to arrange a conference call, so he got Sen. Moynihan (D-NY) and the Clinton White House on a conference call, told them (in essence) "you idiots, don't you realize that if you do this, people will just check themselves into hospitals for overnight stays to get the better coverage, and cost the government billions more?" They saw immediately that he was right, and dropped the plan right away.

I am the same way with respect to retirement. At 67, I figure I will work another 10-15 years if genetics lets me (unlikely, but I refuse to die of boredom). Not only did I paint myself into a corner, jobwise (can't find anyone to take my place), but 90% of the time, my job is actually fun. I travel a lot, but structure my own schedule, take as much vacation as I want, and am paid more than I spend (granted, I do not live in a mansion or change cars more often than every 10-15 years). I don't consider myself as working "past" retirement. I wouldn't know when retirement was supposed to be in the first place. My wife retired from her job early due to mobbing and a few health issues. Typical of her, she now has less free time than she did when she was working full time.

Side note: when I was in college, I thought the traditional majors were too structured for a scatterbrain like me. So I asked if I could have an individual major structured around spoken languages. I was told by the professor responsible for individual majors, with his nose turned skyward, that "we are not running a school for tour guides." I wanted to say, "you snotty dork, there are other professions that require language ability than just tour guides." But I shut up and majored in Spanish, which was a joke, since I had had almost everything already when I lived in Spain. Medieval Spanish was cool, but the rest was just treading water, while I took courses in Swedish, Russian, German and anthropology. Now, instead of heeding their requests for alumni money, I give it to Planned Parenthood. They aren't tour guides, either.

lunatica

(53,410 posts)
10. I retired at 69 because it was, yet again,
Wed Nov 13, 2019, 05:50 PM
Nov 2019

another complete overhauling of the work methodologies because the last one was a failed attempt to rectify the failed work overhaul before it. I got tired of working under managers who used me like a crutch to navigate these changes and still expected me to play their pretend game that they were superior to me.

Fuck them.

I’m happier than I’ve ever been before, and wish I had done it earlier. My mind works better than it has in years just from feeling no stress. I feel sharper than I had in years.

I don’t get people who think they need work to keep their minds sharp. It’s one thing if you need the money or love what you do. But to say it keeps your mind sharp really doesn’t say much for your mind.

PasadenaTrudy

(3,998 posts)
11. You can if you have a pension
Wed Nov 13, 2019, 05:54 PM
Nov 2019

My brother just retired at age 63 with a good pension. Bought a house on Hawaii, moved there last month.

Delphinus

(11,808 posts)
13. I am afraid
Wed Nov 13, 2019, 06:01 PM
Nov 2019

I will fall into the category of working to make ends meet. Being female, a single parent, and no college degree, I worked jobs to keep a roof over our head and food on the table. I have a pension plan now, where the company has been paying into for 20-years, but no funds of my own invested. I am now married and am grateful that my husband has been the higher wage earner, but I still think we're going to not be in the best position - especially looking at what insurance costs may be. Becoming ex-pats might be our only viable option.

Stinky The Clown

(67,670 posts)
14. I am well north of 70. I **can** retire. I choose not to. Having **way** too much fun.
Wed Nov 13, 2019, 06:16 PM
Nov 2019

I cofounded a business nearly 30 years ago. It has been steadily growing and taking an increasingly visible position in our industry. We have hired a cadre of young people. One of our co-founders is mostly retired but is still working with us as she chooses. My other partner and I promoted one of the younger people to a principal level. I love the work we do but more to the point, I really draw great satisfaction from mentoring and rainmaking. Ours is a business where gray hair helps, but youth and new thinking keeps things fresh. I feel as if we're riding a wave of transformation for the company. It is a kick and one hell of a ride.

I ain't quittin'!!!!

Vinca

(50,168 posts)
15. My husband is almost 73 and self-employed. He's been experiencing a seasonal
Wed Nov 13, 2019, 06:19 PM
Nov 2019

slowdown for the past couple of weeks and he's absolutely buggy. We'd make lousy traditional retirees.

Luciferous

(6,067 posts)
16. I work with 2 people that are over 70. They work because they want to, not because they
Wed Nov 13, 2019, 06:26 PM
Nov 2019

have to work. Some people just like working.

Raftergirl

(1,276 posts)
18. My husband
Wed Nov 13, 2019, 06:50 PM
Nov 2019

is a government employee in a very high position in NYS. He loves what he does even though it is extremely stressful. He will have 30 yrs of service in June and eligible for his full pension. He hasn’t decided yet if he’ll retire from the State then or stay a few more years. If he does retire from state service he will definitely keep working - likely as a consultant. He’ll only be 62 and that’s way too young to stop working completely. His decision has nothing to do with money/finances.

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