The Changing Retirement Scenario

Retirement used to mean the end of work. Be that as it may, now we’re at a tipping point: a larger part of individuals will be keeping on working after they resign — frequently in new and distinctive way.

According to a 2014 Merrill Lynch Retirement Study that spotlights the “new retirement workscape”, nearly half (47%) of today’s retirees say they either have worked or plan to work during their retirement. But an even greater percentage (72%) of pre-retirees age 50+ say they want to keep working after they retire, and in the near future it will become increasingly unusual for retirees not to work. This new phenomenon is driven by four forces:

  • Increasing life expectancy, which has produced a retirement that can last 20 years or more.
  • Elimination of pension for most workers, shifting the burden for funding retirement from employers to retirees.
  • Recent economic uncertainty, which has been a wake-up call for many people that it is not financially sustainable to retire without some employment income.
  • Re-visioning of later life, as new generations seek greater purpose, stimulation, social engagement, and fulfillment in retirement.

According to the Kauffman Index of Entrepreneurial Activity, 23.4 percent of new entrepreneurs in 2013 were aged 55 to 64. In the period 1996-2013, Entrepreneurial Activity by Age of people aged 55 to 64 is almost in the same momentum with people aged 35 to 44.

Age 2003 2013
20-34 26.4% 22.7%
35-44 29.8% 24.0%
45-54 25.2% 30.0%
55-64 18.7% 23.4%


As we live more and more beneficial lives, more established Americans are keeping on working at levels not seen subsequent to the 1960s regularly doing as such in new, more adaptable and satisfying ways. The study demonstrates that individuals will progressively be looking for work amid this phase of their lives, moving all through the work environment very much into their 70s and past.

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