As the population continues to age, a growing number of people in the country are extending their careers well beyond the traditional retirement age, according to a new study.
In Gainesville, that number is 14.2 percent.
Oher findings:
- In the Gainesville metro area, residents aged 65 or older make up 15.9% of the total population.
- The median income for full-time workers over 65 in the Gainesville metro is $48,000 a year.
This trend, the U.S. Money Reserves study says, is influenced by several factors, including economic necessity, personal fulfillment, and governmental policies that encourage extended participation in the workforce.
Another key driver behind this shift is increasing life expectancy and the subsequent need for sustained financial security, particularly in an era where pensions and retirement benefits may be insufficient to cover expenses in longer post-retirement years.
Additionally, higher educational attainment has led to more occupational opportunities in fields that are less physically demanding, enabling older workers to remain active in their careers.
Here’s a link to the full report: U.S. Cities With the Most People Working Past Retirement Age (usmoneyreserve.com)