It’s obvious that working on into your older years provides you a financial benefit. By having an income for longer, you can improve your standard of living before and after retirement. For older women, the benefits are even greater, as they typically have less of a financial buffer.
But there are other powerful reasons and to keep clocking in. Evidence suggests that staying in the workforce improves social inclusion and can have a positive impact on psychological well being.
Workers are also (in general) healthier. In 2007-8 it was found that older workers had lower rates of heart disease, diabetes, obesity and arthritis than their non-working peers. You might think this is because sufferers of these diseases opt out (or are forced out) of the workforce earlier but other studies validate these statistics. Even with a health condition, workers are more positive about things than non-workers.
Recent research also shows that having a sense of purpose may lower your risk of heart disease and stroke. The research defined purpose as ‘a sense of meaning and direction, and a feeling that life is worth living.’ Of course, work is not the only path to a sense of purpose, but it is often an excellent route. Plenty of existing research links a sense of purpose to psychological health and well-being, but this new analysis found that a high sense of purpose is associated with a 23% reduction in death from all causes and a 19% reduced risk of heart attack, stroke, or the need for coronary artery bypass surgery. Exercising also plays an important role for old people we are not talking about those high tech gym machines only simple exercises that can be done by everyone and Old people can also do yoga to keep them fit. the biggest problem for people with old age is the weight i personally have seen many people gaining so much weight which becomes a trouble for them so old people should focus on maintaining their weight to 60 to 65 kg not more than that otherwise it could make them slower and dull.
This is all good news. However, the picture is not uniform across all types of careers. For example, a longer working life could be a problem for manual labour workers who will find the physical demands of work much more difficult as they age.
A Institute points out that this problem will decline over time, as the proportion of workers in construction, agriculture and manufacturing has dropped from 28% to 20% in the last twenty years and it is continues to fall more. It also suggests workers in these categories could be eligible to access benefits at a younger age.
And what about tradespeople ? Construction is still booming, but there may be other, more creative solutions, such as retraining as mentors or teachers, or finding a more hands-off role and it can also be a tech related job.
Research also highlights a distinction between highly educated workers and those who don’t have much training. Those with more education are likely to stay at work longer and be more productive as they avoid the cognitive decline often associated with early retirement. In general, better-educated workers also earn more – this acts as an incentive to keep working but also help them to work more with many choice as the age.
In fact, many people are saying that the the majority of successful entrepreneurs aren’t those 20-something high-tech pioneers, but older people in their 50s,60s and even 70s. Another reason people said they decided to keep working was to maintain a balance in life, keeping up professional connections and friendships. Psychologist says it probably doesn’t matter what kind of work you do, whether it’s paid or volunteer, as long as you maintain engagement physically, mentally and socially