Q – Is there a reason that some seniors are working into their 70s, 80s and 90s when they are able to receive Social Security in their 60’s?

A – Some seniors are finding that retirement just isn’t happening when they wish it would, and for the following reasons are working later and longer:

• While the average age to claim Social Security Benefits is 63.9, many need additional income on top of it to be able to afford basic aspects of daily living, like housing and food

• Many seniors would love to retire and just focus on their family and relaxing, but based on the numbers of seniors aged 65 and older which are rising higher than ever before, this isn’t a reality for everyone. The number of older works, aged 80+ has had the most substantial increase at 67% to 500,000 Americans

• With people living longer, money doesn’t go as far as it used to, and as time goes on this might increase even more, keeping more and more seniors in the workforce longer than planned

• Government benefits, which were initially defined in 1940 certainly weren’t designed to support 30 or more years of retirement, which means seniors need a fairly substantial nest egg to make it through

Via: AARP

Image: elements4health.com

Home Instead Senior Care serving elders and seniors in San Jose, Los Gatos, Santa Clara and Saratoga home care – 408-370-6360.