Many people plan to work past normal retirement age, by choice or necessity. But most aren’t taking the steps that could increase the odds they’ll be able to do so.
When asked what they’re doing to ensure they can continue working past 65, fewer than half of employees polled in the 2019 Transamerica Retirement Survey of Workers say they’re trying to stay healthy. Similar numbers cited performing well in their current positions (43 percent) or keeping their job skills up to date (40 percent). More than 1 in 4 workers say they aren’t doing anything to ensure they remain employed longer.
Workers of the world, wake up. Bad health, layoffs and age discrimination sideline many people who expected to work longer. Surveys show that anywhere from 37 percent to 56 percent of retirees leave the job market earlier than planned. That can be catastrophic for your finances and your retirement.
You can do everything right and still not be guaranteed a long working life. If you want the best shot at working past 65 , it pays to be proactive.
Workers 55 and older are more likely to be enthusiastic about, and committed to, their work than younger generations, according to a 2015 AARP poll. Older workers need to put that engagement on display.