Volume 31, Number 1
January 2019
24 Pages
Lubbock, Texas 79401
The top 10 un-retirement benefits
If you’re like many people, the prospects of retirement could seem enviable: more time with family, travel, leisurely days by the lake. The realities of retirement, though, might not be as appealing. Following are 10 reasons you might want or need to unretire: Extra income: It can come in handy. Today’s boomers and seniors are at greater risk than ever for being short of cash in retirement for several reasons including the recession of 2008. In a survey conducted by Home Instead Inc., income was selected by the most respondents as a top motivation for returning to work, and 33 percent said the best part of returning to work was making money. Women, who may have taken time off from work to raise families and care for elderly loved ones, could especially be at a disadvantage. Just 12 percent of women in a Transamerica Center for Retirement Studies’ survey
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reported they are “very confident” they will be able to retire fully with a lifestyle they consider comfortable. A remedy for boredom: Fighting boredom was another reason (43 percent) that older adults returned to work, according to Home Instead research. Some people don’t anticipate the isolation that can result when they leave the workforce or the absence of the type of work that gave their lives meaning and purpose. Finding work serving others, for instance, could help bring back that fulfillment. The varied and sometimes colorful stories that come with the workplace and its people could enhance your life and, at the very least, give you something to talk about at cocktail parties. You’re boosting Social Security and the economy: Over the next 10 years, workers 55 and older are expected to become an even larger portion of the U.S. workforce, rising from 23.1 percent in 2017 to 23.7
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percent in 2027, according to the Bureau of Labor Statistics. Theoretically, people who are working longer will continue paying into Social Security, delaying benefit payments. “Keeping people in the workforce longer is good for consumers and the economy,” said Catherine Collinson, CEO of nonprofit Transamerica Center for Retirement Studies. “Research has shown that people who stay in the workforce aren’t depriving younger workers of opportunities. That’s a myth. The more people who are contributing to the economy, the healthier the economy.” An antidote for brain drain: Research boosts the “use it or lose it” theory about brainpower and staying mentally sharp. People who delay retirement have less risk of developing Alzheimer’s disease or other types of dementia, a study of nearly a half a million people in France found.
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(See The Top Ten, Page 11)
In January & inside 1st – New Year’s Day 21st – Martin Luther King Day 24th – Business Expo .......................... page 5 Final years planning .......................... page 5 Covenant parking garage swap ....... page 24