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Greetings!
Last week we discussed people retiring later in life due to better health, higher quality of life, and financial reasons. Twenty years ago, if someone uttered the word "retirement," a picture was painted of a financially stable couple sitting in their ling room, drinking coffee and reading the newspaper in their slippers. Maybe someone envisions a man spending his days playing golf or a woman knitting sweaters for her grandchildren.
There was always plenty to do with all the time in the world to do it. While this may be true for some retirees, this picture has changed greatly with the passing of time. In fact, financial writer Kerry Hannon, author of Great Jobs for Everyone 50+, explained that the word "retired" should be retired itself.
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The meaning of what it means to retire is rapidly changing. Instead of following a picture painted by society for years, older adults are taking their life into their own hands. The entire concept of working until you hit a certain age, then retiring is over for many people.
"Baby boomers are either continuing to work much longer or approaching work not as an afterthought, but as a pillar of their retirement plans," Hannon explained to NPR.
Once adults hit 65, they are hardly packing up their briefcase, never to enter the workforce again. Some continue to work, whether they need the extramoney to be financially stale or hey have a true passion for their line of work. Many of today's 60-year-olds are planning to work at least part-time for another 15 years or so. More and more seniors are entering the workforce with no intention of stopping. According to the U.S. Bureau of Labor Statistics, between 2010 and 2020, people ages 55 and older are projected to be the fastest-growing segment of the U.S. labor force.
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