Older adults staying in jobs longer….
They may be older, but they just keep rolling along. The 55-plus demographic is working longer than expected for many reasons.
This group is healthier and more energetic than their like were just a few decades ago. They exercise, eat properly, and adhere to healthier lifestyles than earlier generations.
Given their better health, they are capable of working longer and past ages when past groups of this age would retire. 60-65 year olds are capable of doing more and they are motivated to do so.
Given this higher level of stamina and energy, why not do more? But not more which will cost them financially. Hobbies which impact on their finances are rejected. This demographic is very aware of its financial status and recognize that costs are rising everywhere all the time. They recognize that they will need to rely on their own money to care for their needs when they are older. Therefore, they work harder to minimize financial erosion of their money.
The group is also more realistic. Government financial policies erode their nest eggs without pause, increased taxes, increased hydro rates, increased expenditures on infrastructure, increased expenditures on social assistance. The corporate institutions repeat this erosion process, rising costs in the gas industry, increased premiums for insurance, higher food and clothing prices.
This demographic group is reacting to the economic realities surrounding them in a logical way. “How am I going to deal with this constant depletion of my money? Work !” Thank goodness for those who are in the position to do that and who are able to find work or keep working. The older demographic are not so lucky.
Read more in the Huffington Post article about 55+ working longer