Seniors who still work do so because they don’t have the money not to, survey says

Why are seniors working past retirement age? It’s about the money.

“The number one factor we found was that about two in three working seniors say they’re still working because they have to for financial reasons,” said Tricia Harte with Digital Third Coast. “Money is really driving the majority of working seniors to keep that employment going.”

Provision Living surveyed 1,000 seniors who are employed either part-time or full-time. About a third of those people work because they want to.

“I think as you see this working class of seniors aging and continue to work longer, there’s going to be that contingency of folks that, they like their job, they want to stay active,” said Harte. “Maybe
retirement isn’t that appealing to them.”

There is a large portion of seniors that believes they might not always be on top of their game at work.

“About 44%, so roughly four in ten working seniors say they have either physical or mental limitations that prevent them from completing tasks,” said Harte. “This is an understandable fear and a reality of having an aging working class.”

Of those who cite financial reasons for working, 37% say they can’t afford retirement.

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