According to a survey by the Employee Benefit Research Institute, nearly a third of retirees are coming back to work in some capacity. Whether they need the income or just want something to do, these retirees are finding that there are plenty of opportunities available for them in today’s economy. Here are just a few of the reasons, as highlighted by Bill Schantz, why more retirees are choosing to work later in life.
Bill Schantz Discusses The Reasons For Retirees Returning To Work in Today’s Economy
1. Economic Reasons: It is no secret that the economy has taken a hit in recent years. This, according to Bill Schantz, has led to many retirees returning to work in order to make ends meet. For some, this may mean working part-time at a retail store or taking on a new career altogether. Others may return to their previous line of work on a freelance or contract basis. Whatever the case may be, economic reasons are certainly one of the main motivators for retirees returning to work today.
2. Social Reasons: For many retirees, the idea of being isolated at home can be quite daunting. Staying socially active and engaged is important for maintaining good mental health, and returning to work can provide retirees with the perfect opportunity to do just that. In addition to social interaction, working can also give retirees a sense of purpose and fulfillment.
3. Health Reasons: Retirement can often lead to a sedentary lifestyle, which can, in turn, lead to health problems. Getting back into the workforce can help retirees stay active and healthy, both physically and mentally. In fact, many retirees find that returning to work helps them maintain a better work-life balance, which can have numerous benefits for their overall health and well-being.
4. Financial Reasons: Of course, one of the main reasons retirees return to work is for the money. With the cost of living on the rise and pensions becoming increasingly less reliable, many retirees are finding that they need to supplement their income in order to make ends meet. For some, this may mean working part-time or taking on a second job. Others may choose to start their own business or invest in real estate. Whatever the case may be, financial reasons are certainly a major factor in retirees’ decision to return to work.
5. Personal Reasons: Finally, many retirees return to work for personal reasons, says Bill Schantz. Perhaps they simply enjoy working and want to stay active and engaged in their later years. Or maybe they have a passion for their work and want to continue pursuing it even after retirement. Whatever the reason, personal motives are often a driving force behind retirees’ decision to return to the workforce.
Bill Schantz’s Concluding Thoughts
The economy has been changing in recent years, with an increasing number of retirees coming back to work. This is due to a variety of factors, says Bill Schantz, including the need for more income and the desire to stay active and engaged.