Wednesday, April 5, 2006

Never Say Retire

Elderly_lady5A couple of months back, I supplied some Saturday employment law humor with a piece from The Onion about how people were dealing with difficult retirement issues by just never retiring.

Well, as they say, real life is stranger that fiction. Here is an actual story about a study done by the MetLife Mature Market Institute which indicates that, indeed, a significant number of workers never plan to retire.

According to the Reuters.com article:

One in five older working Americans say they will never retire, whether out of financial need or to stay active and engaged, according to a study released on Monday.

Those who plan to keep working include a fifth of older workers who will be able to collect retirement benefits and roughly the same number of workers who have no such benefits like pensions, according to the survey of 2,719 U.S. residents between 55 and 70.

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The oldest workers were most likely to keep working to stay active and engaged and least likely to keep working out of financial necessity, the survey showed.

But 72 percent of the workers in the study aged 55 to 59 said they need the income to live on.

Very interesting.  Most just assume that people want to live their "golden years" in retirement on perpetual vacations or on various golf courses, but clearly a good number people see working as a long-term health strategy.

PS

http://lawprofessors.typepad.com/laborprof_blog/2006/04/never_say_retir.html

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