More Americans are working well past the normal retirement age of 65.
Research from the AARP Public Policy Institute shows the number of people aged 75 or older who are still working has skyrocketed, USA Today reports. This pool of workers has grown more than 76 percent in 20 years and made up 7.6 percent of the U.S. labor force in 2012.
Though most people clearly still retire before 75, research confirms that there is a growing trend of people working longer.
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The average retirement age for men has increased to 64, and the average age for women has increased to 62, according to data from Center for Retirement Research at Boston College cited by The New York Times.
Some individuals are postponing retirement because they feel that they have to. As the nation recovers from a recession and the cost of living rises, many who are old enough to retire feel that they cannot afford it.
Findings from a Gallup poll last year revealed only 38 percent of respondents believed that they would have enough money to retire comfortably. That was a new low.
There are also concerns about healthcare. Employers have increasingly embraced 401(k) plans instead of pensions, which drives many people to continue working until at least 65, when they are eligible for Medicare.
But finances and health are not the only reasons people are choosing not to retire. Some just want to work.
"We are living longer, healthier lives," Kerry Hannon, author of "Great Jobs for Everyone 50+," told USA Today. "And the types of work that people do is not as labor intensive as it was in our parents' generation."
This does not mean that the aging labor force will not face challenges such as mandatory retirement or stiff competition from the young, technology-prone segment of the labor force.
Hannon advises older workers to look to fields where there is growth such as health, education and non-profit organizations.
"All kinds of small businesses need people with expertise," she told USA Today. "Then you can have a part-time gig with flexible schedules."
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