What Is “Retirement”? Three Generations Prepare for Older Age: 19th Annual Transamerica Retirement Survey of Workers 2019
Source: Transamerica Center for Retirement Studies
Survey of U.S. employers and 6000 workers found that 70% of Baby Boomers either expect to or already are working past age 65, and 42% want a phased transition into retirement. Among workers who plan to work in retirement, 80% will do so for financial reasons. However, only 35% say their employers offer flexible work programs. The survey also found that the top criteria for where people want to live in retirement are the cost of living (69%), being near family and friends (49%), good weather (45%), and low crime rate (42%).
No Time to Retire: Redesigning Work for our Aging Workforce 2018
A survey of 5000 U.S. workers asked people about their main motivators for working.
Longevity Project – Morning Consult Poll 2020
Source: Stanford Center on Longevity/Morning Consult
A poll that interviewed U.S. adults about their views on aging found that workers 65 and over said that having flexible working conditions is the most important factor to them, followed by earning income, and having meaningful work. An encouraging finding is that an overwhelming majority of Americans believe that older workers are good mentors and can help companies understand older customers. However, although most people believe that age diversity in the workplace is a priority, only a small percentage say their companies are recruiting older workers.
More Older Americans are Working, and Working More, Than They Used To 2018
Source: Pew Research Center
More Americans over age 65 are working than at any time since 2000, and they are spending more time on the job according to Bureau of Labor Statistics data. Almost 20% of this cohort, or nearly 9 million people, are working either full or part-time. With a few exceptions, they work in occupations in similar patterns as the U.S. workforce as a whole.