Those who observe the recent changes to the Canada Pension Plan rules which punish early retirement and reward later retirement, can be misled into thinking that the idea of working in retirement is somehow a bad thing, that it is a negation of the luxury of complete leisure that we have worked for throughout our lives.
Well, it ain't so. From a purely selfish point of view, working as long as you can is a good thing, even ignoring the money it can provide. We humans are happier and physically and mentally healthier when working.
Within Michael Wolfson's Projecting the Adequacy of Canadians' Retirement Incomes is the following table. Isn't it interesting that when people who are actually over 65 were asked the question what gave them the most satisfaction, work came out on top! That's right - ahead of all those activities people supposedly look forward to doing, like volunteering, dining out, clubs. Now some activities are curiously missing from the questions, such as travel and ahem, intimate activities, but it still confirms what I said before here and here about the merits of working in retirement.
Reading across the table, we can see that over 65s even enjoy work more than any other age group. Perhaps that has a lot to do with the fact that many people in retirement get the freedom and flexibility to do work they like and the hours they like.
It is certainly not all just working for the fun of it though. As Jonathan Chevreau's recent Financial Post article Full retirement a thing of the past noted, a good portion of working retirees need the money too.
Whatever way you slice it, working in retirement is good.
Tuesday, 17 May 2011
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