Many Active Americans Not Choosing to Retire
$DIA, $SPY, $QQQ, $VXX
More and more Americans are spending their Golden Years on the job.
Almost 19% of people 65 anni or older were working at least part-time in Q-2 of Y 2017, according to the US NFP jobs report released last Friday.
The age group’s employment/population ratio hasn’t been higher in 55 years, before American retirees won better healthcare and Social Security benefits starting in the late 1960’s.
A nd the trend looks likely to continue. .
Baby Boomers are increasingly ignoring the traditional retirement age of 65. Last Quarter, 32% of Americans 65 to 69 anni were employed.
Even past age 70, a growing number of seniors are declining to retire. Last Quarter, 19% of 70- to 74-year-olds were working, up from 11% in Y 1994.
A number of factors are keeping older Americans in the workforce. Many are healthier and living longer than previous generations. Some decide not to fully retire because they enjoy their jobs or just want to stay active and alert.
Others need the money.
The longer you work, the easier it is to afford a comfortable retirement. Longer lives and rising healthcare costs have made retirement more expensive at the same time that stagnant wages and the decline of the traditional pension have made it harder to save enough.
Even after they consider themselves officially “retired,” most Americans are hoping to work a little bit.
According to a survey by the Employee Benefit Research Institute, or EBRI, 79% of US workers expect to supplement their retirement income by working for pay.
Rather than retire, older workers sometimes switch from traditional jobs to self-employment, according to a study released last month by the National Bureau of Economic Research that analyzed US tax and survey data.
In the process, they often switch occupations as well.
Those seniors who find it easiest to keep working; healthy, well-educated, and highly skilled people who enjoy their jobs tend to be the least likely to need the money.
Other older Americans, faced with few good job choices, often just decide to retire and and live frugally off Social Security and savings.
The share of older people in the workforce is higher than at any point since before the creation of Medicare.
Wednesday, the major US stock market indexes finished at: DJIA +123.07 at 21532.14, NAS Comp +67.87 at 6261.13, S&P 500 +17.72 at 2443.26
Volume: Trade on the NYSE was lite again, coming in at 794.2-M/shares exchanged.
- NAS Comp +16.3% YTD
- S&P 500 +9.1% YTD
- DJIA +9.0% YTD
- Russell 2000 +5.0% YTD
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