Retirees Becoming More Likely to Return to Work

A survey by Home Instead found 53 percent of employees approaching retirement in the next five years believe they will likely return to work, reports the Lincoln Journal Star . Sixty-eight percent of those nearing retirement and 65 percent of those who have "unretired" announced that they will change or have changed industries. Almost 80 percent of both groups expressed a desire to make a meaningful impact in their communities in their post-retirement years, such as through volunteerism or a role involving caregiving, teaching, or giving back. Key motivators for returning to work for retirees included combating boredom or keeping their minds sharp, while finding new challenges and fulfillment were the most common drivers for those pending retirement. "With Baby Boomers blazing the way, full retirement is no longer a point in time," says Transamerica Center for Retirement Studies CEO Catherine Collinson. "The transition could be a decade or more, and involve shifting gears and working in a different capacity or finding a flexible arrangement, all with more time for family."