Working Past Retirement Age: Seven Shocking Motives
In a surprising twist, retirement is no longer synonymous with leisure and relaxation for many. Instead, it's becoming a second act, a chance to launch a new career, try a job they always wanted to do but couldn't, or even start businesses in retirement.
This trend is evident in Germany, where older people are actively engaging in self-employment. The most common industries include services such as real estate brokerage, virtual assistance, fitness coaching, computer and smartphone repair, running Amazon shops, photography, pet boarding, wedding planning, and training seniors in computer skills.
Craig Copeland, director of wealth benefits research at the Employee Benefit Research Institute, explains that there are many positive reasons people work in retirement. For some, it's a way to hone in on their hobbies and learn more about what they love. For others, it's because they need the money or benefits, while for many, it's for reasons unrelated to financial needs.
Opportunity can come knocking even after retirement, with some retirees being offered part-time work, consulting, or new jobs at their old companies. The allure of work is not just about financial gain, but also about finding a sense of purpose and structure, countering boredom, and reconnecting with a community.
Work breeds community, and some retirees miss the camaraderie and sense of community they had with their co-workers. Returning to work provides an opportunity to reconnect and find a new sense of belonging.
This trend is not unique to Germany. In the United States, according to Gallup, 52.3% of businesses are owned by people who are 55 and older. Countless people are working in retirement, whether they're consulting, working part-time, or starting a new career.
Whether it's a new career, a part-time job, or self-employment, retirement is increasingly becoming a time for exploration, growth, and contribution. It's a testament to the fact that age is just a number, and the desire to learn, grow, and contribute is timeless.
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