Number of Seniors Working Past Age 65 Surges 58%

Americans are working longer than ever before, and many do not see an end in sight when it comes to quitting work for retirement, the Wall Street Journal reports.

A WSJ article titled, “For Many Seniors, There May Be No Retirement,” details the concerns many seniors are having when it comes to holding onto their jobs in order to save enough for retirement. With the poor housing market and diminished home equity, some say they are simply stuck, unable to sell their homes and with meek job prospects.

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Source: The Wall Street Journal/BLS

WSJ cites research from Transamerica Center for Retirement Studies indicating that more than three in five U.S. workers in their 50s and 60s plan on working past 65—and 47% of that group say they’ll do so because they’ll need the money or health benefits.

For seniors continuing to work through their 60s and beyond, WSJ says staying within the same company, or at least the same industry is advised, in addition to continuing to save and holding off on taking Social Security benefits.

Read the WSJ article.

Written by Elizabeth Ecker

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  • I wonder how this trend will impact the reverse mortgages in the future – its either these folks take out the reverse mortgage to eliminate their mortgage payments to actually retire or they keep working and before retirement sell the property/downgrade/live with relatives

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