Fewer things have been more popular to report over the past year than the “boomers are going to retire later and work in retirement because they need the money” surveys and stories. We’ve pointed out some of them here in the WAHVE blog, including surveys conducted by Merrill Lynch-Bank of America, The Associated Press, and others.
We at WAHVE recognize a lot of what is reported in those studies, and often find ourselves nodding in agreement.
However, we see an entirely different motivation for many pre-retirees and retirees in the insurance industry. In our work placing vintage experts with employers in the insurance industry, we find that workers are motivated typically by professional and psychological reasons (namely, they want to keep their minds and bodies engaged in the professional careers they’ve spent a lifetime building).
The surveys, by contrast, typically point out that desperate (if not dire) financial straits that some Americans find themselves in are their motivation for continuing to work.
Whatever boomers’ motivation is, they’re considering working longer.
Retirement was once considered a defined moment, a true fork in the road. Now, to more Americans, it’s becoming a bend in the road.
What’s your plan: Do you look forward to retiring and changing pace completely, or do you want to continue working in some way?
— Sharon Emek, Ph.D.
Founder and CEO