Varied reasons why people are working past retirement

Retirement means different things to different people. Some look forward very much for retirement  while others loathe the thought of it. The reasons how each person arrives at his particular choice are many and varied. There is no right or wrong choice, as long as one is happy it should be the right choice. Below is an article written on the retirees’ scenario in the US. But the picture is pretty much the same the world-over.

Millions of Americans are laboring right past the traditional retirement age and with some working into their late 60s and beyond.

Many of these people are forced to work past their retirement because they do not have sufficient savings. Some claim the extra work help “keep their heads above water”, others see no end in sight to their financial needs at age 68.

Others who are not strapped for cash choose to work because they like the extra cash and the feeling of being needed (emotional need).

Other continue to work because of the fear the carry in them – that “financially I’m kind of scared most of the time. Because what should happen if my health and my body fail?”

A slowing economy and the bad stock market conditions, has precipitated the squeezing of funds set aside for their retirement, thus making it necessary for them to do something to shore up their funds.

Many are forced to  push back their planned retirement date because of the economic downturn. But on the other hand , the greater demand for experienced workers has offered an opportunity the retirees are finding too hard to turn down.

Many older people are now enjoying much better health and thus are having a longer life-span. This has made working past retirement a tempting alternative.

Another attraction drawing retirees or to-be retirees to carry on working are what the additional earnings can do for them on hobbies, travel, education or other retirement dreams.

Many retirees and those who are about to retire regret for not having saved sufficiently when they were younger and were working.  After losing their jobs as engineers and scientists, they now stock shelves just to survive. But they hide when fellow retirees come in, because they don’t want people they knew from their country clubs and higher-income jobs to see them.

It is not right when people work out of desperation and not choice, in other words, it carries little dignity. Some of these people work because they are supporting their grandchildren.

May each one of us find happiness in the choice we make.


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