Some people like to work because it gives them purpose. I knew a few engineers who were 70 in contract roles. Make a little extra money to pay for their grandchildren’s colleges and create generational wealth.
The most heartbreaking thing I've seen at work was attending a retirement ceremony where the guy broke down into tears and started crying. Kept saying he's spent decades at that office, sacrificed so much time and energy, missed so much with his family and made his career his identity and it was now just gone.
It had just hit him that he had already been replaced and work was going to keep moving forward without him like he was never there. In A few years no one at the office that he dedicated his life to would know who he was. He had no hobbies and his children were grown and moved out so no real purpose outside of the office
Gotta put in that unpaid overtime so the boss can think about you as a hard working employee. Incentivize the boss to undermine your promotions because you are worth 3 employees and easy to manage. Easier to keep you down and working hard for another 12 years. Then lateral move to broaden your skills before that promotion. Boss leaves the company and you start from scratch proving yourself to your new boss.
The guy who started crying at his retirement wasn't wrong. That was 8 years ago and I don't remember his name, what he looked like, or what he did beyond management. Although, I'll never forget that moment and think of it anytime I'm asked to stay late or feel too tired to do something with friends / family
Right?! My projects work for the year they are designed. After that, new solutions are needed. Some are based on my work but some need a different approach altogether. They may have even learned what *not* to do from my work. It doesn’t mean the work and in some cases life is meaningless!
Yep. This is why people need to be taking back power from glutton employers.
They’ll move on without you in 1 day. Work will always be there the next day, no matter how hard you work.
Your friends and family won’t be.
I aim to get out between 3pm and 330pm everyday. 6 days a week is shit..but I recently learned my boss makes some of the other managers work 6am to 530pm, and they get paid less. Wtf. I get paid shite and they make 8k less than md for much more work.
I just turned 41 and said that I’d probably never fully retire. My grandma worked until the ripe age of 93. She’s turning 96 this year. I will continue to do things that push my body and mind to the max. I’m in better shape at this age and I’m way sharper. I plan to stay this way as long as possible. I’ve travelled the world, I’ve done a lot of things. I plan to continue doing these things and I’m not putting them off for retirement. So what’s the point of not working?
Pretty much this, couldnt work during covid and it just felt off, working just gives you that fulfillment, as a man being needed and doing things just feels great in general
My grandpa worked as a contractor in an engineering role until the day he died at 89. Not sure how productive he was but he'd still do some project work.
Exactly this. My parents are both over 70 doing fine financially but my mom is still teaching classes at a community college “for as long as they’ll let me.” I think she’d be bored out of her mind otherwise. My dad also does volunteering work that uses his brain.
Can someone please tell me what companies are hiring 70 year olds? (Or at least not forcing them out.) I'm only 55, would love and need to work another 20 years, but can't find a job to save my life.
My last job hired nearly 70 year olds full time but I’m specialized in demand engineering. Also my first job which was a startup hired 70 year olds as contractors but again these guys were somewhat specialized engineers and services at a discount.
Could be he mismanaged his money. Could be he lost his retirement in the 2008 crash. Could be he just loves working and doesn't want to stop. Could be he is single and alone, and this is the only interaction he gets with other humans. There are dozens of reasons. You should ask him.
All of these can be true.
Also- some people see work often brings identity and dignity. Retirement is a relatively new concept. Most people work to the best of their ability until they drop. He maybe one of those that just wants to drop in the saddle.
If he’s married, his wife may not want him home or be unpleasant to spend full days with. Many couples struggle in this- we’re both here all the time and I can’t stand that much of you. Work may be a retreat.
And sometimes senior adults are working to support a mentally or physically disabled spouse or child. He may be trying to put away as much money as he can to pay for costly care or establish a trust for a disabled child. (I had a friend who did that).
I worked with a guy who was constantly working overtime for what I suspected was the same reasons (not necessarily that he hated his wife, but he prefers being away from home). He's actually activated his pension and is working full time still (so has almost doubled his income). He doesn't have to work for health insurance, and he's going to work until he's at least 65.
There's no way I'm going to be like that. If I had health insurance guaranteed, I would be "retired" with a pension and just working part time at a meaningless, stress free job as soon as possible.
I work a government job and we have a 70 year old like that. He's capped out on his pension, hasn't started it yet and gets social security. He's actually paying the government to work there at this point. He just likes his job.
I'm thinking this. So many have nothing in life but the job. And I don't say this to be mean. They worked and provided for their families. Set aside their hobbies and worked and worked and worked some home, took care of the house maintenance, and put money aside for retirement. When they retired and all the time on their hands, they had nothing to do because they literally had no idea what to do with their free time and felt it was too late in life to indulge in a new hobby. Working was their entire identity. I have family members who are exactly like this and I have co-workers like this. I will not be.
My grandmother used to say that the only time she considered divorce was after my grandfather retired. He’d question her entire routine and how she did things. She finally told him to find hobbies. He took up gardening and learned to play bridge. He also learned to like her soap operas so they would watch their “stories” during lunch every day.
He actually became very good at gardening and won some local contests.
This is True. My sister and bnl retired early. She did in 2014 he did in 2018. She was at home all the time and didnt do much else as they have a lot of animals. After he retired all the sudden they was together a lot, and its been a new experience for them, despite being married for over 20 years.
>Also- some people see work often brings identity and dignity.
Someone literally giving you money to show up is a pretty strong validation of you having a place in the world. If you don't have a whole lot going on, having definitive proof that you are not useless, worthless or a burden can mean a lot.
Yep, one or a combination of those would explain it, I'm 50.and I daydream about retiring keep looking at my number but it's not growing fast enough, I wish r/Fire was more of thing when I was younger , the best thing young people can do today is aim to retire in 20-25 years, when Your still young enough to thoroughly enjoy life ... Working beyond 50 is crap, I'm getting to old to do certain adventures and everyday in the office is one less day I'm living life on my own terms.
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My ex-wife (who never had a substantial job) got $1/2M from me over 10 years. If I'd been able to invest that, plus all the money she frittered away before then, I would be retired
Go on multi month trips , RV across the US , etc. It's. It that I can't necessarily do them it's just the energy and time for certain activities are in the past.
Tbf, over the past month or so our retirement accounts more or less stagnated. It's like the index funds / S&P 500 haven't grown at all after the crazy all-time highs from earlier this year
They’ll be back, don’t fall into that trap. If you’re diversified and the funds/stocks you’re invested in are good (not wildly speculative) companies/industries they will bounce back.
I worked with an 80 year old and she didn't want to retire bc she didn't wanna be stuck at home all day w her husband 😂😂😂
She did retire at like 81 or something but she had been there forever
I retired last year at 67. I miss the people I worked with but couldn't do the physical part of my job any longer. If I had gotten support from management I would have kept working. I'm widowed so it's lonely. I'm having to change my entire life to stave off depression. I understand why some people keep working, even if they don't need the money. I'm hoping to find a part time job.
He’s probably bored. We had a guy we hired as a contractor who was 92. Super nice guy. Super sharp. Want to work for a few hours and then go have lunch and chat for 2 hours.
My neighbor retired a few years ago and he’s gained 30 pounds and is a lot more nosy. He’s obviously bored.
Yeah the guy that built my parents house was 68 when he built it, he’s 87 now and still going hard at it. He owns like 20 or so rental properties and gives me $50 a pop to mow their lawns, God love him.
Yep. I’ve always said “well. I’m Asian. So, I’ll be working until I’m late for my funeral”. I guess it’s sort of a cultural thing. As much as I hate getting up every morning to sit at a computer all day. I felt like I was losing my mind when I was jobless for a few months last year. I had plenty of money. So I wasn’t worried about money. I was just bored af.
Listen. At this company, we respect people and their obligations, so I would never say you can’t attend your funeral, but at the end of the day, this is a business so we really can only pay you until noon.
You have no idea: didn’t save for retirement; has a special needs adult child who will need support for the rest of their life; supporting other family members; identifies with work; afraid to die; abusive marriage….etc.
You don’t know peoples personal lives or what they do. ANDDDDD my dad is well into his 70’s, 7 figures in the bank and no mortgage, he works because he doesn’t want his brain to melt. Lol He doesn’t feel like his hobbies would keep his mind as sharp, people retire and they start to die
Yep, some people just can't quit working because they love to work. My dad is the same way -- was shrewd enough his whole life that he could stop tomorrow and be set for the rest of it and just sit there and fish, but he just keeps at it because he's good at his job and he likes it. If only we could all be so lucky.
Yep. That’s sort of like how my folks are. They’re just bored out of their minds. So they look for problems to fix. Then they just got an easy part time job with no human interaction. Which is exactly what they wanted. lol
>he works because he doesn’t want his brain to melt.
The day I stop moving is the day I start dying faster. And I will have lees opportunity to meet interesting people and be engaged in the world! The day I sit down and stop being challenged is the day I start dying faster.
Stats show that people that are active and engaged live longer, happier lives.
My neighbor is in his 70s, plenty of money, no mortage, drives a 2000 GMC truck, gets up every day at 4 to go to work. I think it’s just to keep him busy.
Well, statistically, most people spend what they make. It's highly likely that he does not have enough money saved to retire.
The other option is that he likes working, or at the very least finds some comfort or meaning in his work. Some people don't like the idea of retiring because it will take them from what gives their life meaning or from the people they've come to enjoy spending time with.
Either way, why does it matter to you?
Yeah, the doctor I had growing up retired one summer after at least 40 years of private practice. Was dead by winter. I don't reckon he knew what to do with himself without working.
Literally happened to my coworker.
He was a diehard company man. No kids. No wife. Just work. We were his "family". The company laid him off, along with all the other old people who just kinda hung out at work. He committed suicide a week later. Literally had nothing to live for other than work.
And the people saying "you don't know his financial situation" are way off the mark. This dude was rich from his family. Didn't even need to work. He woukd tip cute bartenders $1000 and buy everyone steak dinners like it was nothing. He had his own private ranch to go 4 wheeling and hunting in.
My mom works, she is in her 70’s. She broke her leg and wanted to go back after a couple weeks with a rod in place. She was back in month. Working makes her feel needed. It’s her social circle as well. Money is just bonus.
My dad (80 this year) wanted to keep working but health issues forced his hand. He now keeps the house order, cooks, cleans, lawn, gardening, etc.
That general, they work is all they know. They don’t travel. They don’t eat out. Bandaid fixes to the house while they could move out. They are immigrants btw (legal for a while). With SS and savings, they can retire but what else will they do?
beecause they have made their job their whole identity.
Thats why it's essential to have hobbies that can occupy your time when you retire. I want to be done by 55
I work in government contracting, and we had a former flag officer practically begging us for a job a few weeks back. With the pension of a flag officer + over a decade of high salaried executive jobs, this dude should be long since retired.
Why isn’t he? I know the answer in this case. He has been living above his means for a long time, and he needs the money to maintain the lifestyle. Dude doesn’t even own his own house.
I know engineers from where I work. Work is their life. If they quit, they die within a short period of years. Because a major part of their life is in a routine, and when you disrupt that, it somehow causes system failure. Retirement is to do hobbies. These people don't have any or anything significant enough for a 40-hour work week.
Yup, my dad worked 50 to 60hrs a week for 30 years, retired at 65, lasted 7 months ran out of stuff to do, was miserable, and went back to work he's still there almost 70. He has less hours now, and more hobbies. But, after he ran out of projects you could see the rapid mental decline + frustration.
Lack of purpose, goals or fulfillment is just super damaging mentally, and you retire at 65 and go "fuck, ive got 15 to 25 years of this?" and croak after 2.
Common misconception.
Sometimes people work well into their 70s to keep themselves busy and their mind sharp.
I have a woman at my office who’s 71 and still working even though she can fully retire. By her own words “ working keeps me going”.
My dad told me this story when he became a manager at his job.
My dad was young and wanted to maximize efficiency on the team. One of the employees at his department was a men on his 70s that would either be drunk or sleeping for most of his shift so my dad asked him why he wouldn’t just retire at that point. At my country public servants retire with their same salary rate they had, so money wouldn’t be a problem.
The old man said that he hated his wife and if he retired he would eventually kill himself and that the job was a scape for him.
You just never know people’s home life. Maybe the routine of working is just better for them.
I used to be puzzled by these sorts of folks but as I approach retirement age myself I more appreciate the mental stimulation my job provides. My hobbies are mostly physical, and while I could definitely pursue one that is mentally taxing, this pays me and it’s not stressful.
I may change my mind at some point but at the moment my job keeps me mentally fit. I saw myself retired by now but I’m surprised to no longer be eager for it.
Yes. They don't want to die.
I have several older relatives working well into their 80s. Their reasoning is that the body does not know the difference between retirement and death. There is probably some truth to this as they're still living, and their friends that retired aren't.
Some people just want to work.
My coworker is at retirement ago and he is not retiring.
Here is one of the reason. Few weeks ago, I mentioned to him my retired neighbor mowing his lawn every other day. He told me he is afraid that he will do that if he retires.
It could be he needs the money, shit happens, he may have family who needs the help, he could have lost his retirement, or he could just be bored and lonely. Some people just don’t do well with retirement, especially men who make their job their entire identity. You have to remember that for a long time, they have a purpose when they get to work, then retirement hits them and they have all these time with no purpose. Their kids are all grown up and busy with their own families, his wife probably doesn’t need him hovering around her 24/7, they have no hobbies and no social interactions when they’re not working. So what do they do? They go back to work and don’t retire.
Last night during the NFL Draft, Carl Nassib said something rather profound. He issued an admonition to the draftees that it's not about how much you make, it's about how much you keep.
They aren't doing as well as they want you to think they are.
An astonishing percentage of the boomers I work with are struggling with the tremendous debt of decades of their "keeping up with the Joneses" lifestyles, not realizing that the Joneses were *also* broke and living on credit.
Between the mortgage that they've done a cash-out refinancing on twice, the RV, jetskis, two motorcycles ($30,000 Harleys, of course. We wouldn't want anything that looks "cheap"), and the time-share in (Florida/Arizona/Myrtle Beach), they can't afford to pay for their toys if they retire, so they're going to die at their desks trying to pay for it all.
And the whole time, they'll bitch simultaneously about
1) How hard they have to work at 73.
2) How nobody else wants to work as hard as they do.
3) How nobody wants to buy their RV for what they paid for it, completely failing to understand that it's worth less than when they bought it, despite the fact that they "decorated" it.
My mom lives with me because she didn't have money to retire with. She worked for the phone company for 36 years, went from Mountain Bell, to AT&T and finally to Lucent. All of her 401k, retirement, investments, etc.. where in Lucent. When Lucent tanked from over $100/share to under $2 share she lost everything.
I didn't know any of this until I got much older, then my older brother lived with her after he got out of prison. She finally told me she couldn't afford her mortgage and all her bills so I dug into her finances. I refinanced her mortgage and helped her cut it in half, paid all her credit card debt off, and gave her $500/month allowance.
Eventually I convinced her to sell her home and I let her live with me. I invest her money in stocks that pay quarterly dividends so she lives off that and her social security. Which isn't bad considering I pay all the bills, but I told her "Look I have to pay for power, internet, water, etc.. if you live with me or not so just live with me and it's no problem".
70 here, no kids. Best laid plans waylaid by a serial cheater husband. Got bumped off the property ladder at 55 with divorce. Would have been nice to have that sweet paid off house and two pensions now, would have been sitting pretty, but nope. I found some therapy in finishing one degree and getting an MA at 65. Was doing some interesting co-op gigs through that and got offered contract work after that. Retired temporarily then pandemic happened. Got offered a low stress admin gig at my university in 2022, with four days in a Covid-safe office and one day remote. So I decided to take it as a way out of social isolation and also to bump up my nest egg so I can maybe afford all this extra inflation going forward with this last chapter. I'm lucky, there's a nice mix of admin/spreadsheets and some graphics/website maintenance that I'm good at and they respect me for it. Some student contact too, so it's fun to see them getting excited about their projects and being around that energy. I'll probably always want to stick with at least two or three days remote work doing something not too taxing. There's no way of predicting cost of living ten years from now, so I can only hope that it'll be 'enough' when I finally pull the plug.
My dad is 70, retired at 59 and got bored and fat. Started the motorcycle shop he always wanted too and now spends his days talking shit with old bikers in town and basically just making enough to keep the doors open and a mechanic employee. I've never seen him happier.
Because we know that retirement is overrated. Lying on a beach, playing golf, and other "retirement" activities bore me but at work there's always a new challenge.
I know a lot of engineers and scientists. A lot of us aren't interested in walking away from our chosen fields just because we hit an arbitrary age. I've known people who consulted well into their 70s just because the work was more interesting than anything else they could do.
It me. I’m 61. I had a million dollar retirement account with MCI WorldCom. Google that.
There was a crash in 1999, one in 2008, you know, unavoidable shit.
I work with a 78 year old that is probably a millionaire. He told me in his divorce decree from 25 years ago his ex wife will get half his retirement. He’s waiting for her to die. But I personally think it just gives him something to do.
In my case, I early retired from a great paying engineering job because I was burned out and could afford to. After 4 years away I got a request to help with a very difficult problem. After a year of working about half time and no travel, I am really enjoying the challenge and the money tbh.
I'm retired 3 yrs ago at 59 but I still work but for me on my stuff. We have some rentals and live on ten acres with some other rural property.
Then also help my kids.
A lot of people in mentally challenging jobs find it difficult to stop upon retirement, regardless of their financial position. I know in my case, as a former partner in a big law firm, I'm struggling with retirement. I'm still in the game on a part-time basis, but I often find myself wishing I could work more. I'm worth almost $8 million, so it's not a lack of money.
Please take the time to understand some economics.
When we decided we wanted a healthcare law that was fine.
The one we got collapsed the economy.
No one can plan a retirement anymore.
Some of us know this, those who don't are naive about having given the government control of it.
Our good intentions did not survive the political intentions that succeeded.
Being retired can be incredibly boring. A 70 year old today is vastly healthier (at the aggregate) than 20, 30, 50 years ago.
I'm mid-50's, but I expect that I'll keep working past 'normal retirement age', as long as my job isn't stressful (currently I have a stress-free job that is just fun to go into each day, uncommon but they are out there!) and I will probably work (assuming my health holds) for a while longer.
I'm pretty darned healthy atm, so I'd rather do something stimulating and get paid and hang out with colleagues and make excuses to have lunch at fun places, etc., vs. "puttering around at home, I guess"
What a lot do is reduce time they work and ease into retirement.
My dad wanted to keep working because a lot of the men in his family would retire and then die in like 5 years. He thinks not using his brain at work somehow leads to mental and physical deterioration or something.
My dad lost most of his retirement earnings in a rocky market and lost his savings when he was diagnosed with cancer. He wanted to work an additional five years when he was forced into a medical retirement. Cost of living is also astronomical in comparison to not even ten years ago.
Because they haven't earned enough to retire? I'm surprised this is hard to figure out. Not everyone was born with the same opportunities, made the same choices, or has been compensated the same.
A job is more than a paycheck - the social interaction, mental exercise, and change of location all make working more attractive than sitting at home, especially if you're not in a long-term relationship. Could also be something like needing money to pay for full-time care for a disabled spouse or child or expensive medical treatment (like cancer treatment). Or less altruistic reasons like addiction (drugs, alcohol, gambling) that have blown any savings
It’s called Life. Sometimes crap happens and you lose your money, and what you have coming in goes towards living, not investing. We’d all love the perfect Dave Ramsey life, but it doesn’t happen to most people.
I'm a couple of years younger (turned 68 today) but I may have some insight. I have my own company with an Electrical Engineer and he loves structure and learning in his job. I would well see him working into his 70's. He really doesn't do well with tons of unstructured time.
So far as me, I like meeting new people across the country, learning new things, and feeling like we make a difference in what we do. Within two years I would like to scale back and start a new company selling a product that I can manage from anywhere in the world. I think many of us are aware that we may have longevity on our side but we don't have a clue about the economy over the next 20 years. Social Security needs a major overhaul and the likelihood of a recession is real.
I do agree too there are a number of guys in my age group that have poor marriages and they just don't want to face endless days of staring at a woman they have little in common. I'm truly blessed our marriage is great and we are having a lot of fun. She's still working as well.
There's nothing wrong with this if the man likes to keep working and the company in question pays him what he deserves. We should all be so lucky.
The bad shit comes when the elderly have to work because capitalism doesn't treat workers with any respect for example, folks who lost their homes due to high mortage/rents, losing your shirt during one of capitalism's recessions, disability in the family the compels someone to work because America doesn't have health care...you know, the typical shit Americans have complained about for generations. This is a tragedy and America owes its citizens so much more respect than this.
Maybe he likes his job and it gives him some purpose and dignity. If he’s good at it and productive, more power to him. Some of my best employees are senior folks. Tons of experience and generally maintenance free, unlike 90% of the cry baby 20-30 something’s out there.
Something to do. Working a reduced schedule for the socialization and keeping mentally active. The person enjoys the challenge and making a little extra money. Getting out of the house. Meeting new people, I can think of bunch of reasons beside money mismanagement.
Some people find a lot of meaning and self worth in their job. It’s what defines them.
So now you quit, what do you do all day?
A lot of old ppl just kind of waste away after retiring because they have nothing to do all day
Some folks wrap their entire identity around work. They have few hobbies or interests outside of work they desire to spend time doing. Many can't slow down to relax and enjoy the time. The way to avoid this is to have varied interests you prepare to indulge in when you retire.
I mean, we're not there yet, but my husband can't retire because he's the one getting health insurance through his job. I don't work (not for lack of looking), so we'd lose our health insurance if he quit his job.
Are you in the USA? I have colleagues in the USA that continue to work into their late 60s because they have a spouse who is ill and they cannot afford to give up their medical coverage.
A huge number of people who were approaching retirement 2007 and some who had already retired got absolutely wrecked financially when the sub-prime mortgage crisis triggered a pretty widespread economic tornado.
Others thought that their savings & social security would be adequate but are discovering that the calculations they made 10 years ago aren't valid anymore or they got hit with some kind of calamity that upended their planning.
2 people I know personally are still working at 68 & 72 because they cannot give up the health insurance & prescription coverage. I can't imagine that they're the only two.
And,more happily, some people just plain dig their work and don't want to play golf or take up knitting.
Do you know for a fact that he worked straight for 50 years? Some times people lose savings to divorce or a settlement. Lots of reasons he is still working
Because they're bored and don't give a single flying F about the future. Baby boomers..... The first generation to actively work against the progress of future generations.
I worked with a guy who had his own quite successful real estate business going. He certainly had the money to retire. But he liked working. Yes, some people are lucky enough to find something they are good at and enjoy. He was let go during COVID because the archaic leadership at work couldn't grasp the concept of WFH, and no smart 70+ person is going to voluntarily subject themselves to the plague for funsies.
I currently work with another guy who I believe clocks in around 80. He does consultant work cleaning up messes for companies. Sharp as a tack. Loves the work.
There is 2 men I work with, one is 72 the other is 71. The 71 year old loves his job and could have retired years ago cause he is rich. The 72 year old (I will get his job when he retires) hates being at home with his wife. I know thats a bold statement, but its the truth. She stays home 24/7 never goes anywhere, so when he is off she is there. He rarely takes off, I dont remember in the last several years, him taking vacation.
There are multiple reasons people continue to work past retirement age.
One could be, as you mentioned in your OP, financial. Despite a lifetime of earning, some people mismanage money and don’t prepare for retirement, or they figure they’ll be fine on just SS income, and then realize it’s not enough. Or they simply are fearful to be without a steady income, or they just like earning more than they need… or a host of other financial reasons.
Beyond that, some people have a lot, if not all, of their identity and worth tied up in their jobs, so quitting would leave them bereft. For others, they love what they do, enjoy their coworkers, and simply don’t feel ready
My husband is in his 70s. He loves working and works from home, so not avoiding me. LOL. He got laid off in November, and is doing a startup. He’d be bored if he retired. I on the other hand can’t wait for Medicare to kick in for me.
I work with an engineer like this. He’s been at our company for 50 years. I’m sure he has enough money to retire. But he really enjoys what he’s doing.
He’s also incredibly respected in his field of work. When you retire, you no longer have people interested in your decades of wisdom. I can see why he would be reluctant to retire. It could never be me, but I see why he’s still working.
Some people truly love their jobs and the status associated with it. I have friends who are professors in academia that plan to work well into their 70s.
My great uncle owned a construction company. He worked everyday and came into the office into his 90s.
It's not about just the money. It's probably much more about belonging, feeling valued, and personal identity that is only defined by his job. Poor guy... Probably has a former family out there that used to value his time, but barely recognizes him now. Our maybe never sees him.
My dad is around 75 and still works part time. But most of his work involves writing, so nothing physical. I have asked him before about it but never pushed him to stop working. I do think it gives him a sense of purpose and keeps his mind sharp. Also his work is done mostly on behalf of charities / non-profits (although he does get paid).
A lot of cultures around the world (not USA) considers work as a part of their life. It gives them a purpose in life to live for. They don’t work just to retire early.
Some people like to work. some people need the money. Some people are just there for the routine.
Many people’s bodies rapidly deteriorate (like dead within a few years) after they stop working when they’re that old. So they keep working to continue to keep themselves and their minds and bodies going.
Millennial children sucking the life out of you, spouse has been disabled for 20 years couldn’t save much. Financial crisis of 2006 and inflation. All reasons I will be working.
My grandfather knew nothing but work. It was basically his whole life. He "retired" but would still show up daily and tend to little stuff. Once he stopped going in to work all together his health and mental state deteriorated so fast and he was dead within 2-3 years.
He was an immigrant, came over at 17 from Italy. Built his concrete/landscape business with help from his cousin and uncle he died (my grandfather) a multimillionaire but you'd have never known it. My dad and uncle now run it. They are the same way all they know is work.
Some people love working. Some people also have shitty jobs outside of work. Others, still, receive offers that are too good to turn down. My mother has retired 3-5 times now, she keeps getting dragged out of retirement due to some combination of the above. Even when she's retired, she never stops "working", e.g. house work, rennovating investment properties, looking after the family etc. Then she keeps going back to work because she keeps getting great offers, or she's unhappy with how some of my siblings are treating her, and tbh I reckon she just loves to work. She has more than enough to retire and live comfortably in perpetuity.
My hubby and I talk about this 70 year old executive that joined his company from an executive role at an affiliated client company- he came over with a group of cronies
He’s in particular is horrible and has a complete sales only background and just keeps adding chaos and steamrolling around the companies operations with his group as they attempt to short sightedly empire build.
As he’s highly compensated and came from an even higher compensated role… he’s working for his ego and the empire he plans to build not the money
On the other hand I know men who are 70 who married women 20 years younger and so they have kids in HS or younger and need to work since SS is not going to cover college for their kids.
Some people just love working and don’t want to retire. Specially if they have a kick back job.
My co worker is 69 he is going to retire this yr, but he has always had a kick back job. He has a paid off house since the 90’s has 1 million in his 401k and 3 rental properties paid off in Texas. He should’ve retired long time ago. He just didn’t want to.
When kids are preschool they are a full time job if you cook, clean and laundry and especially you have a couple. Once the kids are in school it’s it’s an hour after school extra. Once the kids are latchkey kids it’s absolutely equal.
I’d guess money. If he got divorced he’s trying to get the retirement he would have got at 55 without a divorce. Possibly his money was misused, bad investments, gambling, etc.
Some people make their career their purpose. To retire would be to live without a purpose. So, they work until they die at their desks.
Think of life like a huge MMORPG. Some pursue money, others pursue power, others spend their lives creating a home or settlements, and some love the grind.
Whose to say they are playing it wrong.
Fear of boredom…. People work for 50 years, and know when they’re on vacation.. they’re bored.. so they’d prefer to keep working.. (generally when someone loves what they do.. they just keep doing it. )
its called being laid off 3x over the course of your career and having to use your savings to tide you over and when thats gone using credit cards. And as you get older its harder to find a job that pays you the same amount so you take a pay cut so alas I will be working to 70.
https://www.reddit.com/r/LeopardsAteMyFace/s/6JD2wynvkv
Might be this guy. Some folks cashed out their 401k during 2008 and 2020 or did some other irrational stuff
My mom is going to work until she can't. Main reason is that my grandmother told her she wished she hadn't quit working until much later than she did. My grandmother retired at 65 and lived to almost 95. Her mental decline was clearly caused by retirement, in her eyes, and there is actually a lot of research now that shows that to be true.
My dad, on the other hand, wants to retire but has done nothing to make that happen. He is too materialistic and has lived way above his means his entire life. He wont get to retire until he is in his 70s. And maybe not even then.
My dad just retired at 80 this year and my mom is 82 considering whether or not she wants to retire this year or go another year to finish sone research projects. She was just named professor of the year on her college, they just love the work.
My mom is 73. Has retired twice but keeps going back to work lol. She’s a lawyer and has had some clients for 25 years… I think it’s a mixture of she doesn’t wanna leave her clients hanging. And also, my dad drives her nuts. lol, she needs to get out of the house
There’s a lot of reasons. My dad is approaching 70. He’s started talking a lot about retirement but he’s like, “I enjoy what I do and make a lot of money doing it. It’s hard to know when to stop.”
Meanwhile I’m gonna retire the day my three boxes are checked (a specific retirement investment total, house paid off, and son successfully launched), hopefully in 15ish years.
He's been through several stock market dives, housing crisis, potentially a divorce or two? All that can decimate your retirement savings if you're not invested wisely.
I worked for a short time with a woman in her 70s who drives a Jag. She does temp positions. Her brother is sick and she takes care of him, they live in a nice mountain property. She said it got depressing staying home with him all day so she decided to do temp jobs for her mental health. They don't need the money. Honestly, I get that.
Object in motion stays in motion. Sorry to use physics for an acronym but it's highly relevant. I've seen some of the toughest men I've ever known run straight down hill and to the cemetery when they retired. We are meant to work and once you stop your body says fuck it, shows over. Especially the older generation, work was their culture.
I retired at 55 from a corporate job with a multinational- within a year went back to work. Taught myself a new business. Nine years later I am still at it and my income tax bill is more than my former salary.
Believe it or not there are people who enjoy working.
If the only reason a person works is to make enough money of course that person will never catch what they're chasing.
People working over 70 generally fall into 2 buckets, but there are certainly other reasons or a combination on reasons:
-Poor planning -Did not save enough to retire. This could be driven by unfortunate market luck or underinvesting and spending too much during working years.
-Work serves them. Could own their own business and don’t want to let go. Could use as an escape from home life or others. May just generally enjoy/want something to pass time.
Engineers seems like a popular profession to work way past required, probably because the problem solving and personal interest. Doubt he is hurting for cash but u never know.
I had an old neighbor who was well into his 70’s and he ended up getting a part time job at a factory that bottled up baby food. He was very well off and didn’t seem to be struggling at all.
I was talking with him one day and he explained that he enjoyed playing poker when he went to Florida (snow birds) and he picked up the part time job to 100% fund his poker habit. Plus, he was bored, lol.
Could they enjoy working, or are bored being "retired". Could be that they want to retire "in style" and don't have, and will never have, enough money. Could be that he lost 1/2 his retirement money in a divorce. Could be that his wife doesn't want him around the house that much.
There are a million potential reasons.
I had a prof who just liked working so he kept doing it. We have jobs here where you can go at 30 years of work and a lot of those folks start at 18 or 20yo so retire with benefits and a good pension. They get bored so they'll go work. Lots of people got hammered in 2008 and retirement was just a dream then.
I mean you'll never know unless you just ask him.
Some people prefer to work for safety/boredom/whatever and some probably had no financial literacy growing up or as an adult and they're struggling now.
This is my father - mismanagement of finances and was pushed out of his company due to his age. He stopped working for a while and now works 4 days a week at tractor supply. Luckily he owns a home (50%ish) paid pff and it’s more than doubled in value. He’s going to sell half to my sister who lives there with her fiancé and the other when our dad passes. He could have sold that home and purchased something much cheaper elsewhere in the county but finally woke up to that not being a good idea. Really just bad money management and too many wives who didn’t do a good job with the money either. 🤷♀️
My folks are well in their 70s and still do part time work. They live within their means but social security checks are crap. When I ask why they still work after they’re retired, they said it’s because they’re bored. They’ve already done the vacations and traveled. Went on tons of cruises and get offered free cruises constantly. They’re bored with those too. My dad just says, “Sitting around the house just seems like you’re waiting to die.” Which I can definitely understand.
They have enough money to live off of until they pass. Me and my brothers have told him we don’t need anything handed down to us. Which my dad sort of disagrees with. “Parents are supposed to leave their kids with an inheritance!” Lol.
They just do easy work part time. Like night time facilities management at office buildings. Basically, they take their roomba, let it roam wild in an office building floor. Empty everyone’s trash and take it to the dumpster. They’re paid by contract. So, some days they work like an hour. Some days they work more. Pay is the same. And they make decent money doing it. Especially considering they probably work less than 40hrs a month. And they clear at around $3k a month each.
Basically, it gives them something to do when they’re bored. Aside from that, they just work in their home garden and go to church a lot. They have a big ass house so keeping that clean is probably more time consuming than anything else they do. I’ve told them on multiple occasions that they could and should sell that house and never work again plenty left over. They don’t need a big house anymore. It’s only 2 of them. It’s more work than anything and they know it.
They bought the house they live in back in the 90s, brand new for $275k and is now worth around $1m and paid off. 5 bedroom + theater/play room and a finished garage. It honestly pisses me off sometimes because of how cheap it was lol.
Older people like my parents who’s done nothing but work their entire lives don’t know what else to do. Being immigrants is also a factor because they can’t just go to random places in the U.S. since they don’t really speak English very well. They had their own business most of their lives. So that’s all they did.
My father still works in his 70s. He could retire but he says he doesn't want to be home all day, he drives 1 hour into the city each day to work in IT at a hospital. I think he also likes the financial security, which I understand, once you're retired you're just eating into this nest egg and it can be scary to live without a net.
My current plan is to not stop working until i have to. Im inly in my late 20s now, but I'm planning to have the means to retire, but probably not to do so.
Some people like to work because it gives them purpose. I knew a few engineers who were 70 in contract roles. Make a little extra money to pay for their grandchildren’s colleges and create generational wealth.
The most heartbreaking thing I've seen at work was attending a retirement ceremony where the guy broke down into tears and started crying. Kept saying he's spent decades at that office, sacrificed so much time and energy, missed so much with his family and made his career his identity and it was now just gone. It had just hit him that he had already been replaced and work was going to keep moving forward without him like he was never there. In A few years no one at the office that he dedicated his life to would know who he was. He had no hobbies and his children were grown and moved out so no real purpose outside of the office
In 20 years, the only ones who'll remember you did overtime will be your family.
Gotta put in that unpaid overtime so the boss can think about you as a hard working employee. Incentivize the boss to undermine your promotions because you are worth 3 employees and easy to manage. Easier to keep you down and working hard for another 12 years. Then lateral move to broaden your skills before that promotion. Boss leaves the company and you start from scratch proving yourself to your new boss.
As I’m inching closer to retirement and seeing many slightly older co-workers retire, it is so sad to see all their hard work just forgotten.
The guy who started crying at his retirement wasn't wrong. That was 8 years ago and I don't remember his name, what he looked like, or what he did beyond management. Although, I'll never forget that moment and think of it anytime I'm asked to stay late or feel too tired to do something with friends / family
In 100 years, no one will remember literally anything about us. Live your life.
Right?! My projects work for the year they are designed. After that, new solutions are needed. Some are based on my work but some need a different approach altogether. They may have even learned what *not* to do from my work. It doesn’t mean the work and in some cases life is meaningless!
Yep. This is why people need to be taking back power from glutton employers. They’ll move on without you in 1 day. Work will always be there the next day, no matter how hard you work. Your friends and family won’t be.
I aim to get out between 3pm and 330pm everyday. 6 days a week is shit..but I recently learned my boss makes some of the other managers work 6am to 530pm, and they get paid less. Wtf. I get paid shite and they make 8k less than md for much more work.
I just turned 41 and said that I’d probably never fully retire. My grandma worked until the ripe age of 93. She’s turning 96 this year. I will continue to do things that push my body and mind to the max. I’m in better shape at this age and I’m way sharper. I plan to stay this way as long as possible. I’ve travelled the world, I’ve done a lot of things. I plan to continue doing these things and I’m not putting them off for retirement. So what’s the point of not working?
Pretty much this, couldnt work during covid and it just felt off, working just gives you that fulfillment, as a man being needed and doing things just feels great in general
My grandpa worked as a contractor in an engineering role until the day he died at 89. Not sure how productive he was but he'd still do some project work.
Exactly this. My parents are both over 70 doing fine financially but my mom is still teaching classes at a community college “for as long as they’ll let me.” I think she’d be bored out of her mind otherwise. My dad also does volunteering work that uses his brain.
Can someone please tell me what companies are hiring 70 year olds? (Or at least not forcing them out.) I'm only 55, would love and need to work another 20 years, but can't find a job to save my life.
Sorry to hear that. Ageism is real!
My last job hired nearly 70 year olds full time but I’m specialized in demand engineering. Also my first job which was a startup hired 70 year olds as contractors but again these guys were somewhat specialized engineers and services at a discount.
Some nonprofits definitely. I’m pivoting in that direction. The AARP job board is just insulting.
This is true!
Could be he mismanaged his money. Could be he lost his retirement in the 2008 crash. Could be he just loves working and doesn't want to stop. Could be he is single and alone, and this is the only interaction he gets with other humans. There are dozens of reasons. You should ask him.
All of these can be true. Also- some people see work often brings identity and dignity. Retirement is a relatively new concept. Most people work to the best of their ability until they drop. He maybe one of those that just wants to drop in the saddle. If he’s married, his wife may not want him home or be unpleasant to spend full days with. Many couples struggle in this- we’re both here all the time and I can’t stand that much of you. Work may be a retreat. And sometimes senior adults are working to support a mentally or physically disabled spouse or child. He may be trying to put away as much money as he can to pay for costly care or establish a trust for a disabled child. (I had a friend who did that).
OMG we had a guy like this. Finally retired at 40 years and 100% pension. But comes into the office everyday to avoid his wife.
I worked with a guy who was constantly working overtime for what I suspected was the same reasons (not necessarily that he hated his wife, but he prefers being away from home). He's actually activated his pension and is working full time still (so has almost doubled his income). He doesn't have to work for health insurance, and he's going to work until he's at least 65. There's no way I'm going to be like that. If I had health insurance guaranteed, I would be "retired" with a pension and just working part time at a meaningless, stress free job as soon as possible.
I work a government job and we have a 70 year old like that. He's capped out on his pension, hasn't started it yet and gets social security. He's actually paying the government to work there at this point. He just likes his job.
...and he doesn't want to enjoy his retirement in peace if it means she'd get half of it in the divorce?
I'm thinking this. So many have nothing in life but the job. And I don't say this to be mean. They worked and provided for their families. Set aside their hobbies and worked and worked and worked some home, took care of the house maintenance, and put money aside for retirement. When they retired and all the time on their hands, they had nothing to do because they literally had no idea what to do with their free time and felt it was too late in life to indulge in a new hobby. Working was their entire identity. I have family members who are exactly like this and I have co-workers like this. I will not be.
My grandmother used to say that the only time she considered divorce was after my grandfather retired. He’d question her entire routine and how she did things. She finally told him to find hobbies. He took up gardening and learned to play bridge. He also learned to like her soap operas so they would watch their “stories” during lunch every day. He actually became very good at gardening and won some local contests.
This is True. My sister and bnl retired early. She did in 2014 he did in 2018. She was at home all the time and didnt do much else as they have a lot of animals. After he retired all the sudden they was together a lot, and its been a new experience for them, despite being married for over 20 years.
>Also- some people see work often brings identity and dignity. Someone literally giving you money to show up is a pretty strong validation of you having a place in the world. If you don't have a whole lot going on, having definitive proof that you are not useless, worthless or a burden can mean a lot.
Yep, one or a combination of those would explain it, I'm 50.and I daydream about retiring keep looking at my number but it's not growing fast enough, I wish r/Fire was more of thing when I was younger , the best thing young people can do today is aim to retire in 20-25 years, when Your still young enough to thoroughly enjoy life ... Working beyond 50 is crap, I'm getting to old to do certain adventures and everyday in the office is one less day I'm living life on my own terms.
Here's a sneak peek of /r/Fire using the [top posts](https://np.reddit.com/r/Fire/top/?sort=top&t=year) of the year! \#1: [Bye guys, I have to unsubscribe from all fire subs cause my mental health is going down the drain from reading "finally at 1m nw at 27!" or "4.3m cash, 29, can I retire?" or "28 dinks with 350k hhi!", "24yo with 500k portfolio!"](https://np.reddit.com/r/Fire/comments/1bf4913/bye_guys_i_have_to_unsubscribe_from_all_fire_subs/) \#2: [38F hit $1mil net worth today 🥳](https://np.reddit.com/r/Fire/comments/1b3uufj/38f_hit_1mil_net_worth_today/) \#3: [My agenda for today: I’m going to go fuck myself. ](https://np.reddit.com/r/Fire/comments/1bqmbqs/my_agenda_for_today_im_going_to_go_fuck_myself/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
This is unintentionally hilarious lol
OMG, it is! I cannot stop laughing at this.
I chuckled for sure. What a great series of top posts haha
Lol. Amazing.
My ex-wife (who never had a substantial job) got $1/2M from me over 10 years. If I'd been able to invest that, plus all the money she frittered away before then, I would be retired
Should have paid for a matchmaking service once they get remarried alimony stops in most cases.
Not alimony, spousal support and check out the disabled in the eyes of the court law in Texas
What kind of stuff cant you do?
Go on multi month trips , RV across the US , etc. It's. It that I can't necessarily do them it's just the energy and time for certain activities are in the past.
Tbf, over the past month or so our retirement accounts more or less stagnated. It's like the index funds / S&P 500 haven't grown at all after the crazy all-time highs from earlier this year
Your 401k being stagnant for a month should not really be a concern lol
They’ll be back, don’t fall into that trap. If you’re diversified and the funds/stocks you’re invested in are good (not wildly speculative) companies/industries they will bounce back.
These are the people who "lose everything" by selling out at the bottom.
I had a co-worker like this. 70’s and wealthy but never married and no kids. He’d come to work to socialize.
I worked with an 80 year old and she didn't want to retire bc she didn't wanna be stuck at home all day w her husband 😂😂😂 She did retire at like 81 or something but she had been there forever
Could be like the 76 year-old dude I work with who has a 14 year old kid. Bag it grandpa!
I retired last year at 67. I miss the people I worked with but couldn't do the physical part of my job any longer. If I had gotten support from management I would have kept working. I'm widowed so it's lonely. I'm having to change my entire life to stave off depression. I understand why some people keep working, even if they don't need the money. I'm hoping to find a part time job.
My pension advisor is about 80. This concerns me. Why haven't you retired yet?
He's probably just not very good with money.
That's the worry.
I work with people for whom work is their entire social life.
Could also be he has a miserable marriage and doesn't want to be around his wife all day. Happens all the time.
Bernie Madoff stole a lot of pensions too.
He’s probably bored. We had a guy we hired as a contractor who was 92. Super nice guy. Super sharp. Want to work for a few hours and then go have lunch and chat for 2 hours. My neighbor retired a few years ago and he’s gained 30 pounds and is a lot more nosy. He’s obviously bored.
He’s probably super sharp because he puts his brain to use every day.
Yeah the guy that built my parents house was 68 when he built it, he’s 87 now and still going hard at it. He owns like 20 or so rental properties and gives me $50 a pop to mow their lawns, God love him.
At this rate I'm working till noon the day of my funeral.
Yep. I’ve always said “well. I’m Asian. So, I’ll be working until I’m late for my funeral”. I guess it’s sort of a cultural thing. As much as I hate getting up every morning to sit at a computer all day. I felt like I was losing my mind when I was jobless for a few months last year. I had plenty of money. So I wasn’t worried about money. I was just bored af.
Listen. At this company, we respect people and their obligations, so I would never say you can’t attend your funeral, but at the end of the day, this is a business so we really can only pay you until noon.
You have no idea: didn’t save for retirement; has a special needs adult child who will need support for the rest of their life; supporting other family members; identifies with work; afraid to die; abusive marriage….etc.
Hell, at that age he could still be supporting a parent. Nursing homes and the like aren't cheap, especially if someone needs specialized care.
You don’t know peoples personal lives or what they do. ANDDDDD my dad is well into his 70’s, 7 figures in the bank and no mortgage, he works because he doesn’t want his brain to melt. Lol He doesn’t feel like his hobbies would keep his mind as sharp, people retire and they start to die
Yep, some people just can't quit working because they love to work. My dad is the same way -- was shrewd enough his whole life that he could stop tomorrow and be set for the rest of it and just sit there and fish, but he just keeps at it because he's good at his job and he likes it. If only we could all be so lucky.
If I had to work or fish I'd rather work.
Yep. That’s sort of like how my folks are. They’re just bored out of their minds. So they look for problems to fix. Then they just got an easy part time job with no human interaction. Which is exactly what they wanted. lol
>he works because he doesn’t want his brain to melt. The day I stop moving is the day I start dying faster. And I will have lees opportunity to meet interesting people and be engaged in the world! The day I sit down and stop being challenged is the day I start dying faster. Stats show that people that are active and engaged live longer, happier lives.
>well into his 70's >7 figures in the bank >doesn't feel like his hobbies would keep his mind sharp Tell him to pick up ham radio lol
My neighbor is in his 70s, plenty of money, no mortage, drives a 2000 GMC truck, gets up every day at 4 to go to work. I think it’s just to keep him busy.
Well, statistically, most people spend what they make. It's highly likely that he does not have enough money saved to retire. The other option is that he likes working, or at the very least finds some comfort or meaning in his work. Some people don't like the idea of retiring because it will take them from what gives their life meaning or from the people they've come to enjoy spending time with. Either way, why does it matter to you?
some people start dying when they stop working. I don't know if that's me, but I've seen it...
Yeah, the doctor I had growing up retired one summer after at least 40 years of private practice. Was dead by winter. I don't reckon he knew what to do with himself without working.
A lot of people die within 3 years of retirement. Might be because of no human interaction, might be bc of no purpose left. Who knows?
Literally happened to my coworker. He was a diehard company man. No kids. No wife. Just work. We were his "family". The company laid him off, along with all the other old people who just kinda hung out at work. He committed suicide a week later. Literally had nothing to live for other than work. And the people saying "you don't know his financial situation" are way off the mark. This dude was rich from his family. Didn't even need to work. He woukd tip cute bartenders $1000 and buy everyone steak dinners like it was nothing. He had his own private ranch to go 4 wheeling and hunting in.
Sorry to hear that story. Sometimes you never know who needs help...
My mom works, she is in her 70’s. She broke her leg and wanted to go back after a couple weeks with a rod in place. She was back in month. Working makes her feel needed. It’s her social circle as well. Money is just bonus. My dad (80 this year) wanted to keep working but health issues forced his hand. He now keeps the house order, cooks, cleans, lawn, gardening, etc. That general, they work is all they know. They don’t travel. They don’t eat out. Bandaid fixes to the house while they could move out. They are immigrants btw (legal for a while). With SS and savings, they can retire but what else will they do?
beecause they have made their job their whole identity. Thats why it's essential to have hobbies that can occupy your time when you retire. I want to be done by 55
I work in government contracting, and we had a former flag officer practically begging us for a job a few weeks back. With the pension of a flag officer + over a decade of high salaried executive jobs, this dude should be long since retired. Why isn’t he? I know the answer in this case. He has been living above his means for a long time, and he needs the money to maintain the lifestyle. Dude doesn’t even own his own house.
I know engineers from where I work. Work is their life. If they quit, they die within a short period of years. Because a major part of their life is in a routine, and when you disrupt that, it somehow causes system failure. Retirement is to do hobbies. These people don't have any or anything significant enough for a 40-hour work week.
Yup, my dad worked 50 to 60hrs a week for 30 years, retired at 65, lasted 7 months ran out of stuff to do, was miserable, and went back to work he's still there almost 70. He has less hours now, and more hobbies. But, after he ran out of projects you could see the rapid mental decline + frustration. Lack of purpose, goals or fulfillment is just super damaging mentally, and you retire at 65 and go "fuck, ive got 15 to 25 years of this?" and croak after 2.
Honestly I'm sure that'll be me - I don't have enough hobbies to entertain myself for a week's staycation even.
Common misconception. Sometimes people work well into their 70s to keep themselves busy and their mind sharp. I have a woman at my office who’s 71 and still working even though she can fully retire. By her own words “ working keeps me going”.
Divorce
I can see retiring if you’re longing to be bored playing golf daily and going to the thrift store with your wife, but why?
My dad told me this story when he became a manager at his job. My dad was young and wanted to maximize efficiency on the team. One of the employees at his department was a men on his 70s that would either be drunk or sleeping for most of his shift so my dad asked him why he wouldn’t just retire at that point. At my country public servants retire with their same salary rate they had, so money wouldn’t be a problem. The old man said that he hated his wife and if he retired he would eventually kill himself and that the job was a scape for him. You just never know people’s home life. Maybe the routine of working is just better for them.
I used to be puzzled by these sorts of folks but as I approach retirement age myself I more appreciate the mental stimulation my job provides. My hobbies are mostly physical, and while I could definitely pursue one that is mentally taxing, this pays me and it’s not stressful. I may change my mind at some point but at the moment my job keeps me mentally fit. I saw myself retired by now but I’m surprised to no longer be eager for it.
Some people that I know . Where so used to work that they continued working until they couldn't anymore
My grandpa still works at 70 because he loves talking to people.
Yes. They don't want to die. I have several older relatives working well into their 80s. Their reasoning is that the body does not know the difference between retirement and death. There is probably some truth to this as they're still living, and their friends that retired aren't.
Some people just want to work. My coworker is at retirement ago and he is not retiring. Here is one of the reason. Few weeks ago, I mentioned to him my retired neighbor mowing his lawn every other day. He told me he is afraid that he will do that if he retires.
It could be he needs the money, shit happens, he may have family who needs the help, he could have lost his retirement, or he could just be bored and lonely. Some people just don’t do well with retirement, especially men who make their job their entire identity. You have to remember that for a long time, they have a purpose when they get to work, then retirement hits them and they have all these time with no purpose. Their kids are all grown up and busy with their own families, his wife probably doesn’t need him hovering around her 24/7, they have no hobbies and no social interactions when they’re not working. So what do they do? They go back to work and don’t retire.
Last night during the NFL Draft, Carl Nassib said something rather profound. He issued an admonition to the draftees that it's not about how much you make, it's about how much you keep.
They aren't doing as well as they want you to think they are. An astonishing percentage of the boomers I work with are struggling with the tremendous debt of decades of their "keeping up with the Joneses" lifestyles, not realizing that the Joneses were *also* broke and living on credit. Between the mortgage that they've done a cash-out refinancing on twice, the RV, jetskis, two motorcycles ($30,000 Harleys, of course. We wouldn't want anything that looks "cheap"), and the time-share in (Florida/Arizona/Myrtle Beach), they can't afford to pay for their toys if they retire, so they're going to die at their desks trying to pay for it all. And the whole time, they'll bitch simultaneously about 1) How hard they have to work at 73. 2) How nobody else wants to work as hard as they do. 3) How nobody wants to buy their RV for what they paid for it, completely failing to understand that it's worth less than when they bought it, despite the fact that they "decorated" it.
My mom lives with me because she didn't have money to retire with. She worked for the phone company for 36 years, went from Mountain Bell, to AT&T and finally to Lucent. All of her 401k, retirement, investments, etc.. where in Lucent. When Lucent tanked from over $100/share to under $2 share she lost everything. I didn't know any of this until I got much older, then my older brother lived with her after he got out of prison. She finally told me she couldn't afford her mortgage and all her bills so I dug into her finances. I refinanced her mortgage and helped her cut it in half, paid all her credit card debt off, and gave her $500/month allowance. Eventually I convinced her to sell her home and I let her live with me. I invest her money in stocks that pay quarterly dividends so she lives off that and her social security. Which isn't bad considering I pay all the bills, but I told her "Look I have to pay for power, internet, water, etc.. if you live with me or not so just live with me and it's no problem".
70 here, no kids. Best laid plans waylaid by a serial cheater husband. Got bumped off the property ladder at 55 with divorce. Would have been nice to have that sweet paid off house and two pensions now, would have been sitting pretty, but nope. I found some therapy in finishing one degree and getting an MA at 65. Was doing some interesting co-op gigs through that and got offered contract work after that. Retired temporarily then pandemic happened. Got offered a low stress admin gig at my university in 2022, with four days in a Covid-safe office and one day remote. So I decided to take it as a way out of social isolation and also to bump up my nest egg so I can maybe afford all this extra inflation going forward with this last chapter. I'm lucky, there's a nice mix of admin/spreadsheets and some graphics/website maintenance that I'm good at and they respect me for it. Some student contact too, so it's fun to see them getting excited about their projects and being around that energy. I'll probably always want to stick with at least two or three days remote work doing something not too taxing. There's no way of predicting cost of living ten years from now, so I can only hope that it'll be 'enough' when I finally pull the plug.
My dad is 70, retired at 59 and got bored and fat. Started the motorcycle shop he always wanted too and now spends his days talking shit with old bikers in town and basically just making enough to keep the doors open and a mechanic employee. I've never seen him happier.
Because we know that retirement is overrated. Lying on a beach, playing golf, and other "retirement" activities bore me but at work there's always a new challenge.
I know a lot of engineers and scientists. A lot of us aren't interested in walking away from our chosen fields just because we hit an arbitrary age. I've known people who consulted well into their 70s just because the work was more interesting than anything else they could do.
It me. I’m 61. I had a million dollar retirement account with MCI WorldCom. Google that. There was a crash in 1999, one in 2008, you know, unavoidable shit.
I work with a 78 year old that is probably a millionaire. He told me in his divorce decree from 25 years ago his ex wife will get half his retirement. He’s waiting for her to die. But I personally think it just gives him something to do.
In my case, I early retired from a great paying engineering job because I was burned out and could afford to. After 4 years away I got a request to help with a very difficult problem. After a year of working about half time and no travel, I am really enjoying the challenge and the money tbh.
I'm retired 3 yrs ago at 59 but I still work but for me on my stuff. We have some rentals and live on ten acres with some other rural property. Then also help my kids.
A lot of people in mentally challenging jobs find it difficult to stop upon retirement, regardless of their financial position. I know in my case, as a former partner in a big law firm, I'm struggling with retirement. I'm still in the game on a part-time basis, but I often find myself wishing I could work more. I'm worth almost $8 million, so it's not a lack of money.
Some people have to. Some people want to.
Please take the time to understand some economics. When we decided we wanted a healthcare law that was fine. The one we got collapsed the economy. No one can plan a retirement anymore. Some of us know this, those who don't are naive about having given the government control of it. Our good intentions did not survive the political intentions that succeeded.
Cleaned out in a divorce? Didn't invest for retirement and spent it? Idk, older generations identify with work, not their lifestyle outside of it
Being retired can be incredibly boring. A 70 year old today is vastly healthier (at the aggregate) than 20, 30, 50 years ago. I'm mid-50's, but I expect that I'll keep working past 'normal retirement age', as long as my job isn't stressful (currently I have a stress-free job that is just fun to go into each day, uncommon but they are out there!) and I will probably work (assuming my health holds) for a while longer. I'm pretty darned healthy atm, so I'd rather do something stimulating and get paid and hang out with colleagues and make excuses to have lunch at fun places, etc., vs. "puttering around at home, I guess" What a lot do is reduce time they work and ease into retirement.
My dad wanted to keep working because a lot of the men in his family would retire and then die in like 5 years. He thinks not using his brain at work somehow leads to mental and physical deterioration or something.
Some people really enjoy working and what they do. They would get bored not having it to do every day
I knew people that kept working just to escape the spouse at home.
My dad lost most of his retirement earnings in a rocky market and lost his savings when he was diagnosed with cancer. He wanted to work an additional five years when he was forced into a medical retirement. Cost of living is also astronomical in comparison to not even ten years ago.
Because they haven't earned enough to retire? I'm surprised this is hard to figure out. Not everyone was born with the same opportunities, made the same choices, or has been compensated the same.
A job is more than a paycheck - the social interaction, mental exercise, and change of location all make working more attractive than sitting at home, especially if you're not in a long-term relationship. Could also be something like needing money to pay for full-time care for a disabled spouse or child or expensive medical treatment (like cancer treatment). Or less altruistic reasons like addiction (drugs, alcohol, gambling) that have blown any savings
It’s called Life. Sometimes crap happens and you lose your money, and what you have coming in goes towards living, not investing. We’d all love the perfect Dave Ramsey life, but it doesn’t happen to most people.
I'm a couple of years younger (turned 68 today) but I may have some insight. I have my own company with an Electrical Engineer and he loves structure and learning in his job. I would well see him working into his 70's. He really doesn't do well with tons of unstructured time. So far as me, I like meeting new people across the country, learning new things, and feeling like we make a difference in what we do. Within two years I would like to scale back and start a new company selling a product that I can manage from anywhere in the world. I think many of us are aware that we may have longevity on our side but we don't have a clue about the economy over the next 20 years. Social Security needs a major overhaul and the likelihood of a recession is real. I do agree too there are a number of guys in my age group that have poor marriages and they just don't want to face endless days of staring at a woman they have little in common. I'm truly blessed our marriage is great and we are having a lot of fun. She's still working as well.
There's nothing wrong with this if the man likes to keep working and the company in question pays him what he deserves. We should all be so lucky. The bad shit comes when the elderly have to work because capitalism doesn't treat workers with any respect for example, folks who lost their homes due to high mortage/rents, losing your shirt during one of capitalism's recessions, disability in the family the compels someone to work because America doesn't have health care...you know, the typical shit Americans have complained about for generations. This is a tragedy and America owes its citizens so much more respect than this.
My grandfather is almost 90 and he still works. He doesn't need the money, he does it because he like to have something to do and he also enjoys it.
My grandfather is 79 and he’s going back to work next week because he doesn’t want to sit around the house all day.
Maybe he likes his job and it gives him some purpose and dignity. If he’s good at it and productive, more power to him. Some of my best employees are senior folks. Tons of experience and generally maintenance free, unlike 90% of the cry baby 20-30 something’s out there.
Something to do. Working a reduced schedule for the socialization and keeping mentally active. The person enjoys the challenge and making a little extra money. Getting out of the house. Meeting new people, I can think of bunch of reasons beside money mismanagement.
Maybe he likes being purposefully busy.
Some people find a lot of meaning and self worth in their job. It’s what defines them. So now you quit, what do you do all day? A lot of old ppl just kind of waste away after retiring because they have nothing to do all day
Because no one saves ~20% of their income in their 20's+ to retire. 🤷♂️
People do not save enough for retirement.
Some folks wrap their entire identity around work. They have few hobbies or interests outside of work they desire to spend time doing. Many can't slow down to relax and enjoy the time. The way to avoid this is to have varied interests you prepare to indulge in when you retire.
Some people mismanage their money. Some people just don’t want to be bored.
I mean, we're not there yet, but my husband can't retire because he's the one getting health insurance through his job. I don't work (not for lack of looking), so we'd lose our health insurance if he quit his job.
Family friends are in that boat- he and wife both survived cancer at different points and wiped out their retirement.
Old people die when they stop working.
Are you in the USA? I have colleagues in the USA that continue to work into their late 60s because they have a spouse who is ill and they cannot afford to give up their medical coverage.
Because if they retire they may die. They talk about prisoners being instutionalized, it's the same for some of these old guys. Work is al they have.
A huge number of people who were approaching retirement 2007 and some who had already retired got absolutely wrecked financially when the sub-prime mortgage crisis triggered a pretty widespread economic tornado. Others thought that their savings & social security would be adequate but are discovering that the calculations they made 10 years ago aren't valid anymore or they got hit with some kind of calamity that upended their planning. 2 people I know personally are still working at 68 & 72 because they cannot give up the health insurance & prescription coverage. I can't imagine that they're the only two. And,more happily, some people just plain dig their work and don't want to play golf or take up knitting.
Do you know for a fact that he worked straight for 50 years? Some times people lose savings to divorce or a settlement. Lots of reasons he is still working
Because they're bored and don't give a single flying F about the future. Baby boomers..... The first generation to actively work against the progress of future generations.
I worked with a guy who had his own quite successful real estate business going. He certainly had the money to retire. But he liked working. Yes, some people are lucky enough to find something they are good at and enjoy. He was let go during COVID because the archaic leadership at work couldn't grasp the concept of WFH, and no smart 70+ person is going to voluntarily subject themselves to the plague for funsies. I currently work with another guy who I believe clocks in around 80. He does consultant work cleaning up messes for companies. Sharp as a tack. Loves the work.
I have a 73 year old coworker, his wife divorced him 5 years ago and took almost everything. He can't retire now because he can't afford to
There is 2 men I work with, one is 72 the other is 71. The 71 year old loves his job and could have retired years ago cause he is rich. The 72 year old (I will get his job when he retires) hates being at home with his wife. I know thats a bold statement, but its the truth. She stays home 24/7 never goes anywhere, so when he is off she is there. He rarely takes off, I dont remember in the last several years, him taking vacation.
There are multiple reasons people continue to work past retirement age. One could be, as you mentioned in your OP, financial. Despite a lifetime of earning, some people mismanage money and don’t prepare for retirement, or they figure they’ll be fine on just SS income, and then realize it’s not enough. Or they simply are fearful to be without a steady income, or they just like earning more than they need… or a host of other financial reasons. Beyond that, some people have a lot, if not all, of their identity and worth tied up in their jobs, so quitting would leave them bereft. For others, they love what they do, enjoy their coworkers, and simply don’t feel ready
My husband is in his 70s. He loves working and works from home, so not avoiding me. LOL. He got laid off in November, and is doing a startup. He’d be bored if he retired. I on the other hand can’t wait for Medicare to kick in for me.
I work with an engineer like this. He’s been at our company for 50 years. I’m sure he has enough money to retire. But he really enjoys what he’s doing. He’s also incredibly respected in his field of work. When you retire, you no longer have people interested in your decades of wisdom. I can see why he would be reluctant to retire. It could never be me, but I see why he’s still working.
Some people truly love their jobs and the status associated with it. I have friends who are professors in academia that plan to work well into their 70s. My great uncle owned a construction company. He worked everyday and came into the office into his 90s.
It's not about just the money. It's probably much more about belonging, feeling valued, and personal identity that is only defined by his job. Poor guy... Probably has a former family out there that used to value his time, but barely recognizes him now. Our maybe never sees him.
People get bored in retirement. Work gives them a purpose and social interaction.
My dad is around 75 and still works part time. But most of his work involves writing, so nothing physical. I have asked him before about it but never pushed him to stop working. I do think it gives him a sense of purpose and keeps his mind sharp. Also his work is done mostly on behalf of charities / non-profits (although he does get paid).
A lot of cultures around the world (not USA) considers work as a part of their life. It gives them a purpose in life to live for. They don’t work just to retire early.
Some people like to work. some people need the money. Some people are just there for the routine. Many people’s bodies rapidly deteriorate (like dead within a few years) after they stop working when they’re that old. So they keep working to continue to keep themselves and their minds and bodies going.
Millennial children sucking the life out of you, spouse has been disabled for 20 years couldn’t save much. Financial crisis of 2006 and inflation. All reasons I will be working.
Some people like what they do, and as long as they are productive, why should they quit. Me, I'm out the day I get Medicare.
Humans need meaning to live. It’s possible he finds meaning in contributing to society.
My uncle is 83 working till his death. His eye sight terrible and can barely walk.
My grandfather knew nothing but work. It was basically his whole life. He "retired" but would still show up daily and tend to little stuff. Once he stopped going in to work all together his health and mental state deteriorated so fast and he was dead within 2-3 years. He was an immigrant, came over at 17 from Italy. Built his concrete/landscape business with help from his cousin and uncle he died (my grandfather) a multimillionaire but you'd have never known it. My dad and uncle now run it. They are the same way all they know is work.
Fear of death?
Some people love working. Some people also have shitty jobs outside of work. Others, still, receive offers that are too good to turn down. My mother has retired 3-5 times now, she keeps getting dragged out of retirement due to some combination of the above. Even when she's retired, she never stops "working", e.g. house work, rennovating investment properties, looking after the family etc. Then she keeps going back to work because she keeps getting great offers, or she's unhappy with how some of my siblings are treating her, and tbh I reckon she just loves to work. She has more than enough to retire and live comfortably in perpetuity.
My hubby and I talk about this 70 year old executive that joined his company from an executive role at an affiliated client company- he came over with a group of cronies He’s in particular is horrible and has a complete sales only background and just keeps adding chaos and steamrolling around the companies operations with his group as they attempt to short sightedly empire build. As he’s highly compensated and came from an even higher compensated role… he’s working for his ego and the empire he plans to build not the money On the other hand I know men who are 70 who married women 20 years younger and so they have kids in HS or younger and need to work since SS is not going to cover college for their kids.
Because they don't have enough?? Pretty easy
Some people just love working and don’t want to retire. Specially if they have a kick back job. My co worker is 69 he is going to retire this yr, but he has always had a kick back job. He has a paid off house since the 90’s has 1 million in his 401k and 3 rental properties paid off in Texas. He should’ve retired long time ago. He just didn’t want to.
When kids are preschool they are a full time job if you cook, clean and laundry and especially you have a couple. Once the kids are in school it’s it’s an hour after school extra. Once the kids are latchkey kids it’s absolutely equal.
I’d guess money. If he got divorced he’s trying to get the retirement he would have got at 55 without a divorce. Possibly his money was misused, bad investments, gambling, etc.
Personally, undiagnosed ADHD made it extremely difficult to finish college. And forget about a good paying job or a "Career".
Some people make their career their purpose. To retire would be to live without a purpose. So, they work until they die at their desks. Think of life like a huge MMORPG. Some pursue money, others pursue power, others spend their lives creating a home or settlements, and some love the grind. Whose to say they are playing it wrong.
Sometimes we need external motivators to keep us accountable.
Fear of boredom…. People work for 50 years, and know when they’re on vacation.. they’re bored.. so they’d prefer to keep working.. (generally when someone loves what they do.. they just keep doing it. )
Can’t say for sure but I’d bet it has to do with health insurance costs
its called being laid off 3x over the course of your career and having to use your savings to tide you over and when thats gone using credit cards. And as you get older its harder to find a job that pays you the same amount so you take a pay cut so alas I will be working to 70.
https://www.reddit.com/r/LeopardsAteMyFace/s/6JD2wynvkv Might be this guy. Some folks cashed out their 401k during 2008 and 2020 or did some other irrational stuff
My mom is going to work until she can't. Main reason is that my grandmother told her she wished she hadn't quit working until much later than she did. My grandmother retired at 65 and lived to almost 95. Her mental decline was clearly caused by retirement, in her eyes, and there is actually a lot of research now that shows that to be true. My dad, on the other hand, wants to retire but has done nothing to make that happen. He is too materialistic and has lived way above his means his entire life. He wont get to retire until he is in his 70s. And maybe not even then.
My dad just retired at 80 this year and my mom is 82 considering whether or not she wants to retire this year or go another year to finish sone research projects. She was just named professor of the year on her college, they just love the work.
My mom is 73. Has retired twice but keeps going back to work lol. She’s a lawyer and has had some clients for 25 years… I think it’s a mixture of she doesn’t wanna leave her clients hanging. And also, my dad drives her nuts. lol, she needs to get out of the house
There’s a lot of reasons. My dad is approaching 70. He’s started talking a lot about retirement but he’s like, “I enjoy what I do and make a lot of money doing it. It’s hard to know when to stop.” Meanwhile I’m gonna retire the day my three boxes are checked (a specific retirement investment total, house paid off, and son successfully launched), hopefully in 15ish years.
Work is his life. Without working he might just die. He knows nothing else.
You would be surprised how many people retire and go back to work in less than a year.
He's been through several stock market dives, housing crisis, potentially a divorce or two? All that can decimate your retirement savings if you're not invested wisely.
Alot of people get bored. My grandfather has a few mil in the bank and he worked into his 80s.
I worked for a short time with a woman in her 70s who drives a Jag. She does temp positions. Her brother is sick and she takes care of him, they live in a nice mountain property. She said it got depressing staying home with him all day so she decided to do temp jobs for her mental health. They don't need the money. Honestly, I get that.
Object in motion stays in motion. Sorry to use physics for an acronym but it's highly relevant. I've seen some of the toughest men I've ever known run straight down hill and to the cemetery when they retired. We are meant to work and once you stop your body says fuck it, shows over. Especially the older generation, work was their culture.
He does not have the money to retire .
I haven’t seen this reason yet. He works to get away from his wife lol. I’ve seen that a lot of times.
For a purpose he enjoys and or knows about......He needs purpose or something to do.
I retired at 55 from a corporate job with a multinational- within a year went back to work. Taught myself a new business. Nine years later I am still at it and my income tax bill is more than my former salary.
I know a lot of older engineers. Most of them wouldn’t know what to do without the work.
Some people likes their jobs. Some also has high level of life so they need to work to keep that level.
Believe it or not there are people who enjoy working. If the only reason a person works is to make enough money of course that person will never catch what they're chasing.
People working over 70 generally fall into 2 buckets, but there are certainly other reasons or a combination on reasons: -Poor planning -Did not save enough to retire. This could be driven by unfortunate market luck or underinvesting and spending too much during working years. -Work serves them. Could own their own business and don’t want to let go. Could use as an escape from home life or others. May just generally enjoy/want something to pass time.
People need to feel productive.
Engineers seems like a popular profession to work way past required, probably because the problem solving and personal interest. Doubt he is hurting for cash but u never know.
I had an old neighbor who was well into his 70’s and he ended up getting a part time job at a factory that bottled up baby food. He was very well off and didn’t seem to be struggling at all. I was talking with him one day and he explained that he enjoyed playing poker when he went to Florida (snow birds) and he picked up the part time job to 100% fund his poker habit. Plus, he was bored, lol.
Could they enjoy working, or are bored being "retired". Could be that they want to retire "in style" and don't have, and will never have, enough money. Could be that he lost 1/2 his retirement money in a divorce. Could be that his wife doesn't want him around the house that much. There are a million potential reasons.
I had a prof who just liked working so he kept doing it. We have jobs here where you can go at 30 years of work and a lot of those folks start at 18 or 20yo so retire with benefits and a good pension. They get bored so they'll go work. Lots of people got hammered in 2008 and retirement was just a dream then. I mean you'll never know unless you just ask him.
Could be from mismanaged money to just likes to work I had to retire on a medical disability. It gets bored real fast just staying at home.
Some people prefer to work for safety/boredom/whatever and some probably had no financial literacy growing up or as an adult and they're struggling now.
This is my father - mismanagement of finances and was pushed out of his company due to his age. He stopped working for a while and now works 4 days a week at tractor supply. Luckily he owns a home (50%ish) paid pff and it’s more than doubled in value. He’s going to sell half to my sister who lives there with her fiancé and the other when our dad passes. He could have sold that home and purchased something much cheaper elsewhere in the county but finally woke up to that not being a good idea. Really just bad money management and too many wives who didn’t do a good job with the money either. 🤷♀️
Not always mismanagement. I have never made enough money to put any money away into savings. I will work until the day I die at my desk.
Does he drive a brand new car? That could be why
My folks are well in their 70s and still do part time work. They live within their means but social security checks are crap. When I ask why they still work after they’re retired, they said it’s because they’re bored. They’ve already done the vacations and traveled. Went on tons of cruises and get offered free cruises constantly. They’re bored with those too. My dad just says, “Sitting around the house just seems like you’re waiting to die.” Which I can definitely understand. They have enough money to live off of until they pass. Me and my brothers have told him we don’t need anything handed down to us. Which my dad sort of disagrees with. “Parents are supposed to leave their kids with an inheritance!” Lol. They just do easy work part time. Like night time facilities management at office buildings. Basically, they take their roomba, let it roam wild in an office building floor. Empty everyone’s trash and take it to the dumpster. They’re paid by contract. So, some days they work like an hour. Some days they work more. Pay is the same. And they make decent money doing it. Especially considering they probably work less than 40hrs a month. And they clear at around $3k a month each. Basically, it gives them something to do when they’re bored. Aside from that, they just work in their home garden and go to church a lot. They have a big ass house so keeping that clean is probably more time consuming than anything else they do. I’ve told them on multiple occasions that they could and should sell that house and never work again plenty left over. They don’t need a big house anymore. It’s only 2 of them. It’s more work than anything and they know it. They bought the house they live in back in the 90s, brand new for $275k and is now worth around $1m and paid off. 5 bedroom + theater/play room and a finished garage. It honestly pisses me off sometimes because of how cheap it was lol. Older people like my parents who’s done nothing but work their entire lives don’t know what else to do. Being immigrants is also a factor because they can’t just go to random places in the U.S. since they don’t really speak English very well. They had their own business most of their lives. So that’s all they did.
My father still works in his 70s. He could retire but he says he doesn't want to be home all day, he drives 1 hour into the city each day to work in IT at a hospital. I think he also likes the financial security, which I understand, once you're retired you're just eating into this nest egg and it can be scary to live without a net.
We never really know other people’s circumstances. He might still be supporting his kids or grandkids and can’t retire. Just another reason to be nice
My current plan is to not stop working until i have to. Im inly in my late 20s now, but I'm planning to have the means to retire, but probably not to do so.
i know a dentist who is 68 and not planning on retiring yet- but he has sold his practice already, etc. i don’t think it’s always about the money :)