Getting closer to the age of 65 means you’re a few steps closer to retirement. Now, we’ve all heard that more and more seniors are forced to continue working even as they reach a traditional retirement age. The question is, why?
Well, it turns out that saving for retirement isn’t that easy, so a lot of households continue working in order to build up their savings. Others, however, chose to stay at work for one reason or another- and there’s nothing wrong with that!
In fact, about 20% of people over the age of 65 reported working part time or full time according to the Per Research Center. By 2022, experts say the number will grow to 31.9%.
With longer life expectancies and medicine far exceeding our expectations from decades ago, retirement keeps getting pushed further and further back. If you want to continue working or have to continue working in order to boost your savings, we’ve created a handy guide with tips on how to delay your retirement successfully!
Try a Proactive Late-Career Job Switch
Are you getting a little bit tired of your current job? We don’t blame you, especially if you’ve worked in the same environment with the same people for years now. It’s probably time for a switch, especially if you plan on working another 10 years or more- you might be surprised about how many people do!
If you’re unsatisfied with your current job, it’s time to peruse the market once more. By now you likely have a lot of experience that other companies would greatly appreciate and would love to have you on board.
Don’t think there’s any benefit to this? Think again. It’s estimated that the likelihood of working at age 65 increases by 20% if you switch jobs voluntarily, the Center for Retirement Research and Boston College found!