The trend of seniors in the workforce is growing in 2023 — but what’s causing it?
These days, it’s not uncommon for seniors to keep working into their 70s, 80s, and beyond. We never want to see a situation where seniors have to do this to make ends meet. But could it have some advantages?
If more seniors are choosing this way of life, they likely have a good reason behind their choice.
What’s Motivating Seniors in the Workforce in 2023?
Many seniors today are choosing to remain active in the workforce well into their 70s and 80s, and their reasons are as diverse as their backgrounds and experiences. While financial stability is often a motivating factor, there are numerous positive reasons why seniors opt to stay employed.
Staying in the workforce allows seniors to engage in intellectual stimulation. Many older individuals have accumulated a wealth of knowledge and expertise throughout their careers. They enjoy the opportunity to continue learning and contributing to their field. By staying active and engaged, they can remain mentally sharp and continue to challenge themselves intellectually.
Secondly, seniors often find significant social stimulation in the workplace. The workplace provides a sense of community and camaraderie, offering opportunities for social interaction, collaboration, and the formation of meaningful relationships. This social engagement helps combat loneliness and isolation, which can be particularly prevalent among seniors.
The financial aspect cannot be overlooked. Some seniors choose to stay employed because they genuinely enjoy their work and the financial benefits it offers. By staying in the workforce, seniors can maintain their standard of living, afford healthcare expenses, and even have the means to pursue hobbies or travel.
Finally, many seniors develop a personal connection to their job over the years. They may feel a sense of pride and fulfillment in their work, and leaving the workforce would mean severing ties with something they have dedicated a significant portion of their lives to. By remaining employed, they can continue to contribute, make a difference, and leave a lasting impact.
What’s Impacting Your Choices Regarding Retirement?
In conclusion, seniors who choose to stay in the workforce into their 70s and 80s often do so for positive reasons. They value intellectual and social stimulation, appreciate the financial benefits, and maintain a personal connection to their job. Their decision to continue working allows them to lead fulfilling lives, contributing to their own well-being and the broader community.
This is a great decision, but we strongly believe seniors should be able to do this by choice, not by necessity. It’s why we focus on protecting Social Security for all seniors via our Social Security Lock-Box Petition. Sign it if you support our cause of putting seniors in charge of their retirement.