How to Make Sure You Can Work as Long as You Want To
By Cheryl Harbour

Stepping back from a demanding career to work part time is an element of many people’s plan for the future. Whether that's going to happen two, five, or a dozen years from now, this may be the time to chart the course toward a second career that involves fewer hours and more quality of life.

It isn’t only a quality of life matter. Statistics now show that not everyone can afford to stop working completely. And just as challenging is the fact that being able to keep or find a part-time job isn’t as easy as it may sound.

A study by Transamerica Center for Retirement Studies (TCRS) showed the number of people who want to keep working is gradually rising – to this year’s percentage of 56%. But the statistics are eye-opening. According to an article in Forbes quoting data provided by AARP, “The average duration of unemployment for job seekers age 55 to 64 is now about 44 weeks and for those 65+ it’s roughly 35 weeks. By contrast, unemployment lasts just 20 weeks, on average, for people in their early 20s.”

Even with that reality, the TCRS survey found that baby boomers and GenXer’s are likely NOT to put much thought into the employment part of their future. TCRS President Catherine Collinson says the key to finding the part-time job you want is to “be proactive about making sure you have your skills up to date, understanding the employment marketplace and safeguarding your health.” Also, it helps to be flexible and think outside the box in terms of what type of work you'd like to do.

What’s more, many people choose a location for retirement without even considering the likelihood of employment there.  Here are two resources for learning more about life and employment in various locations:

The Milken Institute Center for the Future of Aging’s 2017 Best Cities for Successful Aging evaluates 381 U.S. metropolitan areas to determine how well they serve the needs of the nation’s growing population of mature adults. Metro areas can offer more part-time employment opportunities based on the density of businesses and people. A common thread of the best areas is the presence of higher education institutions. The presence of colleges increases important quality-of-life factors that affect older adults (economic strength, infrastructure, walkability, and recreation).

The U.S. News Best Places to Retire analyzed data for the 100 largest metropolitan areas in the US. Cities in Pennsylvania, Florida and Texas show up a couple times in the Top Ten. Rankings are based on top criteria including the happiness of local residents, housing affordability, tax rates and healthcare quality.

To read the full article that says working in retirement may be wishful thinking, click here.




Comments

Be the first to commment on this article.

Post a Comment