Seniors are Working Longer than Ever
Seniors in Dallas find themselves hoping to retire in their mid-60’s, but for many, this just isn’t reality, and the aging and career structure are changing as a result. Some seniors like 92 year old Erma Paliani are working right up until they just can’t do it anymore, and here are the factors influencing that decision:
• While the average age to claim Social Security Benefits is 63.9, many need additional income on top of it to be able to afford basic aspects of daily living, like housing and food
• Many seniors would love to retire and just focus on their family and relaxing, but based on the numbers of seniors aged 65 and older which are rising higher than ever before, this isn’t a reality for everyone. The number of older works, aged 80+ has had the most substantial increase at 67% to 500,000 Americans
• With people living longer, money doesn’t go as far as it used to, and as time goes on this might increase even more, keeping more and more seniors in the workforce longer than planned
• Government benefits, which were initially defined in 1940 certainly weren’t designed to support 30 or more years of retirement, which means seniors need a fairly substantial nest egg to make it through
Via: AARP
Image: elements4health.com
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