More Than Half of Workers Approaching Retirement Believe They Will Return to Work


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Providing insight into the changing post-retirement landscape,  a new survey  by Home Instead, Inc. revealed that more than half (53 percent) of workers approaching retirement in the next five years believe they will likely return to work.

According to the Home Instead, Inc. survey, money is an important overall factor in desire to return to work. However, the second most important motivator for those who have retired was fighting boredom (44 percent) or keeping their minds sharp (22 percent), while finding new challenges and fulfillment were the second and third most important motivators for those pending retirement. In terms of their next move, the majority of both those approaching retirement (68 percent) and those who have “unretired” and returned to work (65 percent) said they will change or have changed industries.

“Today, more aging men and women are redefining what their next chapter looks like, seeking out new career opportunities that serve their skills, passions and life goals,” said Jeff Huber, president and CEO of Home Instead, Inc. “We are seeing the desire among seniors for a second career to not just fulfill a monetary need, but source of personal fulfillment later in life. In fact, many of our own professional caregivers are seniors themselves.”

The need for personal fulfillment was evident among those surveyed by Home Instead. Nearly 80 percent of both those nearing retirement and unretired said they want to make a meaningful impact in their communities in their post-retirement years, such as through volunteerism or a role involving caregiving, teaching or giving back.

Catherine Collinson, CEO of Transamerica Center for Retirement Studies, reaffirms that with people living longer than ever, it’s important to focus more on maintaining a sense of purpose than holding on to the outdated hallmark of retiring at age 65.

“With Boomers blazing the way, full retirement is no longer a point in time. The transition could be a decade or more, and involve shifting gears and working in a different capacity or finding a flexible arrangement, all with more time for family,” Collinson said.

Many of today’s older workers are seeking flexible work options, including at organizations that meet criteria for age-friendly workplaces. Retail sales clerks, bank tellers, online tutoring and caregiving are among some of the most popular jobs.

Home Instead consulted with retirement experts at Transamerica Center for Retirement Studies, RetirementJobs.com and Encore.org to introduce online tips and materials to help older workers decide how to make the most of their post-retirement years. Resources include an online career assessment tool that asks the user questions about their interests, skills and ideal work environment before recommending categories of jobs that might suit them.

“Whether you are looking for an opportunity to make a difference in the lives of others, share your expertise, network with new people or create something new, our hope is the career assessment tool will help spark ideas and conversation around what a rewarding next chapter could look like,” explained Huber.

Families can find program resources and information at UnRetireYourself.com. Or, contact your local Home Instead Senior Care® office for additional resources and to learn about professional CAREGiversSM opportunities. Find an office near you by visiting www.homeinstead.com/state/.

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