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But making money is far from being the only reason. Baltimore retirement and career coach Barbara Harman sees more people working later in life because they find their work gives them a sense of purpose, a structure to their days, and a social life. “You don’t even have to continue in the same career,” Harman said. “Ask yourself why you’re working, and what you want to do that will bring you positive emotions, meaning, and a reason to look forward to your day.” In a survey by Merrill Lynch and research group Age Wave, 62 percent of respondents said their primary motivation for working was to stay mentally active. That’s what keeps Alan Goldberg going
PHOTO COURTESY OF ALAN GOLDBERG
More than money
JUNE 2017
More than 125,000 readers throughout Greater Baltimore
They are hardly the retiring types By Carol Sorgen “I don’t feel like someone who shouldn’t be working.” said Mike Gimbel, a 65-yearold resident of Timonium. “Retirement hasn’t even been a thought.” Gimbel is a substance abuse consultant. He says, “Work keeps me going, physically and emotionally. I like being active, as well as being a contributing member of society. There will always be people [for me] to help.” Gimbel is part of a growing trend of people who continue to work full-time past the age of 65, traditionally considered full retirement age. “Almost 20 percent of Americans 65 and older are now working, according to the latest data from the U.S. Bureau of Labor Statistics. That’s the most older people with a job since the early 1960s, before the U.S. enacted Medicare,” reported Ben Steverman of Bloomberg News. With people living longer, it’s not surprising that they’re working longer as well. According to the Social Security Administration, one in four people who reach age 65 will live past 90, and 1 in 10 will live past 95. And with more years to live, people need more money to live on. According to Bloomberg, “Three in five retirees surveyed by the Transamerica Center for Retirement Studies said making money or retaining benefits was at least one reason they had retired later than they planned to. Almost half said financial problems were their main reason for working past 65.”
5 0 I N S I D E …
L E I S U R E & T R AV E L
A first-hand account of how Cuba, existing in something of a time warp, is a land of contradictions page 22
ARTS & STYLE At 77, Alan Goldberg has no plans to retire from his job as professor of toxicology and chairman of the board of the Johns Hopkins Center for Alternatives to Animal Testing. He’s shown here with his son’s dog, an American mastiff named Atlas. Goldberg is one of a growing number of people working past the traditional retirement age of 65.
to his job as professor of toxicology and chairman of the board of the Johns Hopkins Center for Alternatives to Animal Testing. Goldberg, 77 and a resident of the Inner Harbor, likes the intellectual stimulation of working. Goldberg cites as his role model his former friend and neighbor, Baltimore civic leader Walter Sondheim, who died in 2007 at the age of 98. “I really admired his attitude,” said Goldberg of Sondheim, who continued showing up at his office until a week before his death. “I can’t see myself sitting around.” Goldberg’s own father retired at the age of 66 and died two years later, a story Goldberg said he’s heard all too often. He acknowledged that he feels fortunate to be physically and mentally fit enough to continue working.
The only concession Goldberg has made to changing his work life has been stepping down from a major administrative position eight years ago, though he continues his role as a professor. The adjustment “means I spend less time in meetings,” he said, “and also have the opportunity to extend my frequent business travel to Europe so my wife and I can have more time to enjoy ourselves.”
Women working longer, too And it’s not only men who are enjoying longer careers. A recent New York Times article reported that today’s women are more than twice as likely as those 30 years ago to work into their 60s and even 70s, See NOT RETIRING, page 7
Baltimore’s arabbers are among nation’s last; plus, a behind-thescenes look at the Walters Museum, and Sally Field finally stars on Broadway page 26
TECHNOLOGY k Try out new car technology
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FITNESS & HEALTH k 10 ways to fight osteoporosis k Meditation vs. pain meds
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LAW & MONEY 17 k Negotiate bills to save hundreds k Finding trustworthy financial advice ADVERTISER DIRECTORY
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