More Americans Working After 70

More Americans Working After 70

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2016-07-11

Traditionally, the retirement age in America is 65. The American Dream was all about working hard for 40 years and then relaxing and enjoying life for the next decade or two. According to the AARP, that is changing. They say that the hottest demographic in the labor market is men and women working not only past traditional retirement age, but into their 70s and 80s. The Bureau of Labor Statistics agrees – they peg seniors as the fastest growing segment of the workforce in the next decade. They predict that by 2022, about 32% of Americans ages 65 to 74 will still be in the workforce. 

What kind of work are these older Americans doing? Some are staying in the job they had, some are going back to school to learn new skills, and many are utilizing the skills they have to do consulting. This allows them to work when they want to, and they can share their years of experience with other firms. 

Some firms are even hiring older Americans to help the current younger employees. Hollywood saw the trend and made a movie, The Intern, about a retired executive who gets bored with retirement and goes back to work as an intern.

Where to find work after 70

Start with the company you are currently work for or last worked for. Find out if there are any openings or a possibility to stay on after retirement age. Join an association for your industry and network with the members. You might hear about a need for a consulting project. Go to sites like www.seniorjobbank.com where jobs for those over 50 are posted. This slide deck shows the ten best jobs for older Americans 

Whatever the reason and no matter the kind of work you choose to do, if you are still working after 70, you are in good company. Warren Buffet is 85 and is one of the most respected people in the financial world. He runs a multi-national conglomerate. Entertainers like Willie Nelson (82) and Clint Eastwood (86) are still going strong.  

IMPORTANT DISCLOSURES

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC

Tags: David Lerner Associates, retirement information, aged based info, retirement planning, employment, senior citizens

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About

Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Contact

Jake Mendlinger
Account Manager
Zimmerman/Edelson
516.829.8374 X 232
jmendlinger@zimmed.com

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