A growing number of Americans aged 65 and older are redefining retirement by staying in the workforce, not out of financial necessity but because they genuinely enjoy their jobs. Nearly 20% of Americans over 65 are currently employed - double the percentage from 35 years ago.
Take George Cavedon, 73, who briefly tried retirement in his fifties only to find himself restless and unfulfilled. "Retirement to me is a scary thing. How much can you lay on the beach?" says Cavedon, who now works in marketing and has no plans to stop. "I like being active and working."
The trend reflects a broader shift among baby boomers, particularly those with college degrees who have spent their careers in knowledge-based professions rather than physically demanding jobs. Currently, around 11 million Americans aged 65 or older are working, contributing to 7% of all U.S. wages and salaries - up from just 2% in 1987.
Research suggests this continuation of work may benefit mental health and social connections. A study of 1,500 retirees and 400 working peers found that only 44% of retirees reported being happy with their lives, while many experienced loneliness and lack of purpose.
"The more successful you've been, especially financially, the more likely you are to feel like a failure in retirement," explains Mark Walton, author of "Unretired: How Highly Effective People Live Happily Ever After."
Companies are adapting to this trend by offering flexible arrangements like phased retirement. Renee Stanton, 61, exemplifies this new approach. Though financially able to retire, she plans to transition to contract work to balance her professional expertise with personal pursuits like skiing and sailing.
The shift comes as businesses face skilled labor shortages. "The reality is, there is a labor shortage, and the labor shortage is a shortage of highly skilled, highly knowledgeable employees," notes Walton.
This new retirement model challenges traditional views about age and work, as experienced professionals continue contributing their expertise while maintaining fulfilling personal lives. For many baby boomers, the choice to keep working reflects a desire to stay engaged, connected, and purposeful in their later years.