According to the US Census Bureau, the average age of retirement is 62 years and the length of retirement is 18 years. The former has depleted rapidly in the last 100 years but the percentage of the latter is on the rise. Keeping the current economic scenario in mind, the people in US are desperately looking for a change in their work life and prolong it till the age of 65. One of the major reasons for Americans to consider such changes is to attain better financial stability. But on the whole, it is difficult for them to imagine a life without work and overall the whole statistics of retirement is changing; with debts gripping Americans and recession smashing their dreams, the Americans are seeking more work options as money is required even for debt settlement. With an American attaining retirement age, people are demanding part time work, job sharing, contractual employment and various other job opportunities as long as they can keep working well. There is a sudden increase in the percentage of people above 50 to get into new businesses which is a positive turn for the economy.
With a major out flux of workforce, people are not only interested to pursue working with a hope to have a better pastime but to use their brain for making positive changes in the organization which has hired its services. The idea to continue working for long needs to prove its worth, but the retired people are full of optimism that they will come up with newer and better ideas for the retirement generation to move forward. Though the effect of late retirement is cannot be foretold but with increasing costs of social security which benefits the elderly it is essentially an effective cost cutting tool of the Government. In the end the issues of retirement and the zeal to continue work remains an unsolved matter as of now, with the relentless pressure of various government schemes.
With a major out flux of workforce, people are not only interested to pursue working with a hope to have a better pastime but to use their brain for making positive changes in the organization which has hired its services. The idea to continue working for long needs to prove its worth, but the retired people are full of optimism that they will come up with newer and better ideas for the retirement generation to move forward. Though the effect of late retirement is cannot be foretold but with increasing costs of social security which benefits the elderly it is essentially an effective cost cutting tool of the Government. In the end the issues of retirement and the zeal to continue work remains an unsolved matter as of now, with the relentless pressure of various government schemes.
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