Looking at Retirement in 2015

Retirement is an economic development issue. How so? For one, workers (often very experienced ones) exit the workforce. In some cases, these workers are hard to replace. Retirement also creates work opportunities for younger workers, which can be a good thing. Retirement impacts communities because wealthy residents may move away. The demand for goods and services can change in communities as significant numbers of workers retire. The aging of communities impacts the demand for healthcare for one.

We will be looking at the retirement issue in Ashtabula County in the near future. For now, let’s look at a tiny piece of the retirement issue: Is this a good time to retire? The answer is this is a better time then a few years back, but basically it depends upon the individual and his or her ability to retire.

So what is it like to retire in 2015? A recent Careerbuilders article speaks to this issue. Here are a few highlights from the article. Back in the recession’s heyday, CareerBuilder’s annual retirement survey found that the number of workers age 60 or older delaying retirement was 66 percent. In 2015, that figure dropped to 53 percent: one of the most recent indicators of strong economic recovery.

What does retirement look like in 2015? What career strategies are mature workers utilizing in their own retirement plans? Let’s take a look at this year’s survey findings to find out.

When most people think of retirement, they think of never working again and instead having time for family, adventure and relaxing. But when the reality of retirement approaches, you may find it’s smarter to find a different job as a way to earn extra income or pass your time. For the 54 percent of senior workers (age 60+) that say they’ll work after retiring from their career, about four-fifths (81 percent) say they’ll most likely work part-time, while 19 percent plan to continue working full-time.

Read the complete article here: http://advice.careerbuilder.com/posts/what-it-looks-like-to-retire-in-2015

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