Cenek Report

Working longer brings more than just financial and economic benefits to older Americans. Estaban Calvo, at Boston College ’s Center for Retirement Research, has established that individuals who perform paid work later in life self-report greater levels of physical and psychological well-being.

Calvo forewarns however, that this should not be interpreted or used by policy makers to raise the legal retirement age, as having the ability to voluntarily decide the age of retirement is a determinant of satisfaction. While it’s not surprise, the quality of one’s job is also critical. Undesirable jobs slightly lower the healthy effects of working later in life.

Dr. Robert Butler of the International Longevity Center shared very similar thoughts with NPR listeners in the July 13, 2005 edition of Morning Edition:

“Well, individuals who continue to work have the advantage of social engagement, people that they see on the job. They have something to get up for in the morning. It gives them a real goal, a sense of meaning. If they have an influential job such as chief justice of the United States , they really also have a feeling they're doing something constructive and useful. It provides them with autonomy. It, of course, gives them income.”

Work is also healthy irrespective of whether one is paid or not. Performing more than 100 hours of volunteer work provide significant health benefits [Herzog and Luoh, 2002]. Volunteer work can provide feelings of empowerment, self-determination, autonomy, and other forms of control, which are psychologically and emotionally uplifting, and serve as a buffer to stress.

Salvo’s research and the ongoing work by Dr. Butler underscores that many Boomers will delay retirement for reasons beyond financial necessity. Some will continue to work through their 60’s simply due to personal choice and the psychological benefits that accrue from an achievement, self-control, recognition and a sense of accomplishment. This is good news for the many global organizations that will need to increasingly find creative ways of encouraging Boomers to work longer.