More and More Older Workers Saying “No” to Retirement

In honor of Labor Day, I thought I’d post about this interesting article I read on CNN.com.  As life expectancy grows and medical treatment improves, more and more hardworking individuals are putting retirement on the backburner, staying at their old job or pursuing a new career.  According to the AARP, more and more members of the baby boomer generation will continue work well beyond the traditional retirement age of 65.  One study reported that 68 percent of workers between the ages of 50 and 70 want to continue working in some capacity.

Morris Wilkinson, a 91-year-old letter carrier from Alabama, keeps working to stay busy.  He’s been with the postal service for over six decades and shows no signs of stopping.  “I’d rather work than be idle.”  Sally Gordon is a 101-year-old who works for the Nebraska Legislature.  In 2010, she was recognized by Experience Works as America’s Outstanding Oldest Worker.  Although these exceptional workers enjoy the extra income, most of them do it for pleasure.  Experts agree that having a daily job can help elderly individuals maintain a routine, relieve boredom and in some cases can improve their physical health.

Yet, it’s not always easy for elderly workers to compete with their younger counterparts in the workplace.  Although research indicates that older workers may be more productive than younger employers, companies are reluctant to hire older individuals.  “In a contracting labor market, their chances of finding employment were reduced with budget cuts and layoffs.”  But while it may be difficult for elderly workers to jump into a new position, hardworking veterans like Gordon and Wilkinson don’t seem to have any trouble keeping their jobs.  “I may retire some day,” says Wilkinson.  “I guess I’ll retire one way or another.”

For the full article, click here.