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Traditional Retirement Possibly Becoming a Thing of the Past
It may be time to redefine retirement. A new survey of American workers from the Transamerica Center for Retirement Studies found that 82% of the respondents age 60 and older either are, or expect to keep working past the age of 65. Among all workers, regardless of age, 20% expect to keep on working as long as possible in their current job or a similar one. “The days of the gold-watch retirement where we have an office party and maybe some punch and cookies and never work again are more mythical than a reality,” said Catherine Collinson, president of the retirement studies center. “Very few workers actually envision that type of retirement and many plan to keep on working part-time even after they retire. “It even raises the question is retirement the right word.” The new retirement horizon should encourage employers to reconsider the way they view their staffing. Read more…