In Five Years 1/3 Of People Over 65 Will Still Be Working

Reported in the New York Times today, from 2000 to 2016 the number of people who are over 65 and still working went from 13% to 18.8% – and will go to 32% over the next 5 years.

A Boston College professor said that “This is one of the most educated generations in history. A lot of the jobs people are continuing in are fields in which you use the mind, not the body.”

A Stanford professor added that “In jobs where knowledge is the basis, you don’t see a performance deficit with age.”  Noted were professions such as education, law, business, and social services.

While “a 2015 study by the Transamerica Center for Retirement Studies found that 44 percent of those who retired later than planned said they continued to work because they chose to,” the BC prof warned that “It’s not a good strategy to think you’re never going to retire,” because, the reporter added, “most people do have to stop working full time because of health, caregiving responsibilities or other factors.”

 

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Richard Cohen

Richard Cohen

Richard B. Cohen is a partner in the New York City office of FisherBroyles, LLP, a national law firm. Richard Cohen has litigated and arbitrated complex corporate, commercial and employment disputes for more than 35 years, and is a trusted advisor to business owners and in-house counsel both in the United States and internationally. His clients have included Fortune 100 companies, domestic and foreign commercial and investment banks, Pacific-rim corporations and real estate development companies, as well as start-up businesses throughout the United States. Email Richard at [email protected]