No. of Recommendations: 0
"Why working has become the new retirement.....

)))=)For years, many workers nearing retirement have professed plans to work part-time during retirement. But few retirees have actually continued working part time. Things are changing.

A recent survey of pre-retirees and retirees shows that the gap between planning to work in retirement and doing so has narrowed. I have to confess I was a little bit surprised and more than a little pleased to see the results. Let me share with you what the researchers found and what retirement analysts say is going on.

Findings of a survey of retirees and pre-retirees

The LIMRA Secure Retirement Institute surveyed recent retirees and pre-retirees (ages 55 to 71) who’ve retired within the past two years or plan to retire in the next two years and had at least $100,000 in assets. Among the pre-retirees, 27% said they plan to work part-time in retirement and 17% said they expect to gradually reduce their hours before stopping work entirely. Among the retirees, 19% are working part time and 17% have reduced their working hours.(=(((

==
Link: https://www.marketwatch.com/story/why-working-has-become-the...

*******************************************************

Maynard G. Krebs might beg to differ.

Howie52
Retirement is the greatest thing since work.
Print the post Back To Top
No. of Recommendations: 0
I have to confess I was a little bit surprised and more than a little pleased to see the results.

Why were you pleased?

PSU
Print the post Back To Top
No. of Recommendations: 1
PSUEngineer asks,

<<I have to confess I was a little bit surprised and more than a little pleased to see the results.>>

Why were you pleased?

</snip>


That's a quote from the author of the Marketwatch opinion piece, Kerry Hannon -- not BigBunkler.

She's an author that advocates that people work or start a small business in retirement.

intercst
Print the post Back To Top
No. of Recommendations: 1
PSU:

I was about to ask the same question... No matter to me what others do, honestly. If they're happy doing what they do, especially, why not keep on keeping on for as long as they like? An attorney friend of ours is doing that because (a) he likes the income from even a little of what he does and (b) he likes what he does.

Vermonter
Print the post Back To Top
No. of Recommendations: 33
She's an author that advocates that people work or start a small business in retirement.

I just don't understand this. To me, and maybe I'm the odd duck here, retirement means no longer working for pay, and so doing any sort of work, whether part-time or staring my own small business, is simply not attractive. I don't want to be doing anything where I have to be somewhere at a specified time and reporting to someone else. I want to do whatever I want, change my plans at the last minute, or just do nothing at all.

When I retired last year, I was amazed at the number of people who asked me what other job or career I intended to pursue. If I wanted to still be earning an income, I would have just stayed at my very well-paying job which I definitely liked. But I much prefer things as they are now where I do whatever I want, and am not expected to produce something or to be at some meeting or any of that other stuff.

But as I said, maybe that's just me and I'm the one who does not understand the concept of retirement.
Print the post Back To Top
No. of Recommendations: 1
When I retired last year, I was amazed at the number of people who asked me what other job or career I intended to pursue.

Around here, the sought-after "other job" is ranger at one of the golf courses. (We are in a gated community with 8 golf courses.) No pay, but you can play golf for free on your non-working days.
Print the post Back To Top
No. of Recommendations: 13
I just don't understand this. To me, and maybe I'm the odd duck here, retirement means no longer working for pay, and so doing any sort of work, whether part-time or staring my own small business, is simply not attractive.


I might tweak it slightly to be "retirement is doing what you want to do rather than doing what you have to do". That leaves the window open for a bit of part time work that you enjoy, or starting a business if that's what you really want to try. Or doing volunteer work that might consume a lot of your time. It also includes not working at all.

I had a tax client who was a retired business executive. He really liked helping businesses get off the ground, so he spent his "retirement" years consulting new businesses that he found interesting. He didn't charge a whole lot - way less than a fair value. But he wouldn't work at all unless he was intrigued in some way about the business. He liked sharing his accumulated lifetime of knowledge with others. It was basically his hobby. And a hobby is a perfectly fine way to spend retirement.

I always had interesting conversations with him when I did his taxes. Usually learned something, too. Unfortunately, he passed away a few years ago.

--Peter
Print the post Back To Top
No. of Recommendations: 1
When I retired last year, I was amazed at the number of people who asked me what other job or career I intended to pursue. If I wanted to still be earning an income, I would have just stayed at my very well-paying job which I definitely liked. But I much prefer things as they are now where I do whatever I want, and am not expected to produce something or to be at some meeting or any of that other stuff.

Exactly 2gifts,
I am retiring on April 1st of next year. (Always keep them guessing is my motto). People keep asking me where I am going to go work. I told them I am going to help family remodel their homes, build a forge, travel, learn Spanish, learn the guitar, go fishing, you know everything I enjoy. My brother told me I was to smart to retire, I told him he was to smart to keep working.

Andy
Print the post Back To Top
No. of Recommendations: 0
My grandparents retired....but didn't like sitting around the house.

Grandpa V worked as a crossing guard a few hours a day. Got him out of the house for the morning part and in the afternoon for the evening part.....

Grandpa C worked as a ticket taker at a movie theater part time.... got him out of the house......

My dad retired and never did anything resembling 'paid work' for someone else. He kept busy.

Me? Been retired 21 years and never looked back. and don't plan to.


t.
Print the post Back To Top
No. of Recommendations: 4
I like the phrase that we retire to reinvent ourselves. I am in my third "retirement."

Currently, I only do what I want to do and it fits my schedule. I get paid for 10-15 hours/week as I drive senior citizens to grocery stores and field trips (wineries this Friday). I don't do anything before 10 am because I workout. Anything else has to be from home so I can do it any time.

I do these things because I would be bored to death if I did not. There are not enough home projects, newspapers/books to read, or TV to watch that hold my interest. Engaging with other people and having purpose is the key.

The only thing I don't like doing is going out at night. A local investment club has sparked my interest, but they meet in the evening when I am comfy/cozy on the couch watching Jeopardy.

Ain't retirement grand!

Windrath
Print the post Back To Top
No. of Recommendations: 0
"Why working has become the new retirement.....

)))=)For years, many workers nearing retirement have professed plans to work part-time during retirement. But few retirees have actually continued working part time. Things are changing.

A recent survey of pre-retirees and retirees shows that the gap between planning to work in retirement and doing so has narrowed. I have to confess I was a little bit surprised and more than a little pleased to see the results. Let me share with you what the researchers found and what retirement analysts say is going on.

Findings of a survey of retirees and pre-retirees

The LIMRA Secure Retirement Institute surveyed recent retirees and pre-retirees (ages 55 to 71) who’ve retired within the past two years or plan to retire in the next two years and had at least $100,000 in assets. Among the pre-retirees, 27% said they plan to work part-time in retirement and 17% said they expect to gradually reduce their hours before stopping work entirely. Among the retirees, 19% are working part time and 17% have reduced their working hours.(=(((

==
Link: https://www.marketwatch.com/story/why-working-has-become-the...

*******************************************************

Maynard G. Krebs might beg to differ.

Howie52
Retirement is the greatest thing since work.
Print the post Back To Top
No. of Recommendations: 4
{{To me, and maybe I'm the odd duck here, retirement means no longer working for pay, and so doing any sort of work, whether part-time or staring my own small business, is simply not attractive. I don't want to be doing anything where I have to be somewhere at a specified time and reporting to someone else. I want to do whatever I want, change my plans at the last minute, or just do nothing at all.}}

That is a completely reasonable goal for retirement. it does not make you an odd duck. It makes you you.

But not everyone is you. Many people thrive on some sense of externally imposed structure in their lives. As an example, when my dad retired from his main job, he continued farming and then also began two part time jobs. He did not need to do these jobs out of economic necessity. Rather he really enjoyed doing them. It worked for him.

My personal goal for saving extensively for retirement is so that I no longer have to work for someone else. Instead, I can putter on our own farm. I likely will work physically harder once I retire. But I do not expect many other people would like such a retirement.


c
Print the post Back To Top
No. of Recommendations: 2
Many people thrive on some sense of externally imposed structure in their lives. As an example, when my dad retired...

When mine retired, he was also the chair of a local charitable foundation. He grew it to something larger than it was, and also helped his former secretary develop a community foundation that is now making really significant improvements in my home town.

Eleven years later, he is ready to "retire" from that gig. He'll still have the two businesses he started when he retired (he owns an airplane hangar and three airplanes that he rents out, and which have never made him any money, but he finds it fun), the "Hopeful Has-Beens" group that meets once a week to work on issues in the community, dominoes twice a week with a friend, the police and fire commission, and probably other things that I'm not currently thinking of. And then there's the yard, which he still works on for at least five hours every weekend and an hour most other days.

It makes me understand why being deeply networked and involved in your community is important to a long, healthy, happy life.

ThyPeace, Dad is 81. He's not all that healthy looking, really. We're working on that. The prostate cancer treatments made him gain a lot of weight. But he's energetic and thoughtful and he just keeps going.
Print the post Back To Top
No. of Recommendations: 2
{{It makes me understand why being deeply networked and involved in your community is important to a long, healthy, happy life.}}


I would suggest that being deeply networked and involved in your community is important to a happy, fulfilling and meaningful life no matter how long or healthy.

Your dad sounds like a real asset to his community and family.


c
Print the post Back To Top
No. of Recommendations: 0
I would suggest that being deeply networked and involved in your community is important to a happy, fulfilling and meaningful life no matter how long or healthy.

Your dad sounds like a real asset to his community and family.


Good point. As for dad and the community, yeah. Dad's retirement party was the largest event of its kind that I have ever been to. The speeches were great. Last year, many of his former employees threw him a surprise birthday party for the tenth anniversary of his retirement. One of the more surreal experiences of my life was sitting in the office of the cemetery the morning after mom died. We were all there to pick out burial plots, something my parents had not done ahead of time. Part of the conversation was about a good friend of one of the men who worked there, who had worked for my dad before he retired. "He still talks about working for you, Mr. [ThyPeace's dad]. He says it was the best job he ever had. He loved it." the amazing thing is that I have heard that exact same thing hundreds of times.

ThyPeace, apparently some of the things that happened were not exactly work-suitable, though. The parties are legendary...
Print the post Back To Top
No. of Recommendations: 3
I do these things because I would be bored to death if I did not. There are not enough home projects, newspapers/books to read, or TV to watch that hold my interest. Engaging with other people and having purpose is the key.


Maybe this is it for me. I have lots of hobbies and no shortage of activities and social events, so I have no need for any outside work, part-time or otherwise. I play golf during the summer (5-6 times a week), and sew and go to the gym during the winter. With retirement, I have found that I can actually sew all year, and that is a bonus for me. I do a lot of stuff with the local church, and tend to be active in Town events, though I no longer hold elected office. I am also on a committee that reports to a Board of Directors, and that meets quarterly.

So I am definitely busy, and perhaps that is the thing I was missing. Some folks may desire a part-time job to get them out of the house, and I have plenty of things that do that for me.
Print the post Back To Top
No. of Recommendations: 8
Soon after I retired I learned how to plant fruit trees and slop pigs on my daughter's farm. My friends and family were delighted to see me engaged in honorable labor after nearly 40 years as a trial lawyer.
Print the post Back To Top
No. of Recommendations: 7
I am retiring on April 1st of next year. (Always keep them guessing is my motto). People keep asking me where I am going to go work. I told them I am going to help family remodel their homes, build a forge, travel, learn Spanish, learn the guitar, go fishing, you know everything I enjoy. My brother told me I was to smart to retire, I told him he was to smart to keep working.

My wife let it slip to her mother that we are thinking about retiring early. MIL was like "what would you possibly do with your time?" I told her I don't have enough hours in the day to fit in working.
Print the post Back To Top
No. of Recommendations: 1
I just don't understand this. To me, and maybe I'm the odd duck here, retirement means no longer working for pay, and so doing any sort of work, whether part-time or staring my own small business, is simply not attractive.

I might tweak it slightly to be "retirement is doing what you want to do rather than doing what you have to do". That leaves the window open for a bit of part time work that you enjoy, or starting a business if that's what you really want to try. Or doing volunteer work that might consume a lot of your time. It also includes not working at all.


That sounds like a good definition. It still questions the definition if you have to "start a business to earn money to afford 'retirement.'"

Remember the discussion in the Retire Early Home Page board (before it split into RECF and RELE) where a woman said she retired at some super early age, like 32...but she was married and her husband worked for income (plus health insurance + dental etc.). She was actually a stay-at-home wife, but wanted to call herself retired and some people supported that definition. So, apparently words don't have to have an objective meaning.
Print the post Back To Top
No. of Recommendations: 0
Soon after I retired I learned how to plant fruit trees and slop pigs on my daughter's farm. My friends and family were delighted to see me engaged in honorable labor after nearly 40 years as a trial lawyer.

There has GOT to be a lawyer joke in there somewhere.
Print the post Back To Top
No. of Recommendations: 3
My wife let it slip to her mother that we are thinking about retiring early. MIL was like "what would you possibly do with your time?" I told her I don't have enough hours in the day to fit in working.

When I had just started my engineering career, I was in a meeting where it was pointed out how people die shortly after retirement because their life loses its meaning, and they lose their reason to get up in the morning. That didn't seem right to me, but having been a real employee for maybe 18 months, I didn't know if that was BS, or a generalization, or true for some and not others or was actually a fact. What hit home was that sometime just before that I noticed in the obituaries a familiar face from work, and it was a guy who retired and then passed away like six months later. So maybe it *was* true! Maybe I would grow to absorb that mentality (even though I felt like people should work to live, not live to work).

Over time, I noticed there were people who were thrilled to "get a package" of say adding five years to their age and five years to their service to calculate retirement eligibility and benefits (when the company needed to reduce headcount). Others were crestfallen that the company didn't need them any more. One guy's hobby was traveling in an enormous motor home...not for me, but I saw that there was this big swath of people whose lives were work + friends + hobbies + serving the community + learning + other stuff, not just work. Then the internet came along and I discovered there were hundreds of thousands of people who wanted to give their employers their best effort for 40 hours a week, but didn't treat it like a marriage.
Print the post Back To Top
No. of Recommendations: 6
Excellent posts, here. I'm not retired. I'll be there at some point. I came to post about my 87 year old grandmother. She still rehabs houses in her retirement, having asked her landlord (about 30 years ago) if she could help him with the 23 houses he has.

She is not a wealthy person, or even middle class. She turned that opportunity into a full time hobby after starting it as a way to work off rent and to keep physically busy.

Her landlord had a stroke a while back. She now rehabs the homes by herself! She is the strongest (physically) octagenarian I have ever known. Her only complaint is that sometimes the ladder isn't tall enough!

She's an old woman who has constant pain and other typically issues of her age. She credits that focus and effort for the last 15 years of her good fortune.

I'm half considering buying all of those houses from the landlord just to keep her "retirement" intact. (her only worry)

Romantic and picturesque? In the eyes of the beholder.
Print the post Back To Top