- By Amy Hoak
Partial retirement wasn’t all that common in 1960. More than 50 years later, a substantial percentage of people now hold a “bridge” job before they stop working for good.
Partial Retirement Is Starting Earlier
More workers are slowing down earlier, too: 15 percent of those 60 to 62 years old are partially retired. According to the University of Michigan report, in 1960, partial retirement among this younger group was “virtually non-existent.”
One Reason: Higher Unemployment
(MORE: Semi-Retirement Jobs With Great Benefits)
More people are also apt to exit the labor force during times of high inflation, possibly because wages don’t keep up with the increased cost of goods and services, according to the study.
Next Avenue Editors Also Recommend:
- 3 Jobs You Didn’t Know You Could Do in Retirement
- 5 Expenses to Ditch in Retirement
- 6 Ways People Over 50 Can Find Jobs They’ll Love
- How ‘Opt Out’ Women Can Opt Back Into Jobs
Next Avenue brings you stories that are inspiring and change lives. We know that because we hear it from our readers every single day. One reader says,
"Every time I read a post, I feel like I'm able to take a single, clear lesson away from it, which is why I think it's so great."
Your generous donation will help us continue to bring you the information you care about. What story will you help make possible?
This article is reprinted with permission from MarketWatch.com. © 2015 Dow, Jones & Co., Inc. All Rights Reserved.
Sponsored