More Than Half of Workers Approaching Retirement Believe They Will Return to Work

OMAHA, Neb., Aug. 14, 2018 /PRNewswire/ -- Providing insight into the changing post-retirement landscape, a new surveyⁱ by Home Instead, Inc. revealed that more than half (53 percent) of workers approaching retirement in the next five years believe they will likely return to work.

According to the Home Instead, Inc. survey, money is an important overall factor in desire to return to work. However, the second most important motivator for those who have retired was fighting boredom (44 percent) or keeping their minds sharp (22 percent), while finding new challenges and fulfillment were the second and third most important motivators for those pending retirement. In terms of their next move, the majority of both those approaching retirement (68 percent) and those who have "unretired" and returned to work (65 percent) said they will change or have changed industries.

"Today, more aging men and women are redefining what their next chapter looks like, seeking out new career opportunities that serve their skills, passions and life goals," said Jeff Huber, president and CEO of Home Instead, Inc. "We are seeing the desire among seniors for a second career to not just fulfill a monetary need, but source of personal fulfillment later in life. In fact, many of our own professional caregivers are seniors themselves."

The need for personal fulfillment was evident among those surveyed by Home Instead. Nearly 80 percent of both those nearing retirement and unretired said they want to make a meaningful impact in their communities in their post-retirement years, such as through volunteerism or a role involving caregiving, teaching or giving back.

Catherine Collinson, CEO of Transamerica Center for Retirement Studies, reaffirms that with people living longer than ever, it's important to focus more on maintaining a sense of purpose than holding on to the outdated hallmark of retiring at age 65.

"With Boomers blazing the way, full retirement is no longer a point in time. The transition could be a decade or more, and involve shifting gears and working in a different capacity or finding a flexible arrangement, all with more time for family," Collinson said.

Many of today's older workers are seeking flexible work options, including at organizations that meet criteria for age-friendly workplaces. Retail sales clerks, bank tellers, online tutoring and caregiving are among some of the most popular jobs.

Home Instead consulted with retirement experts at Transamerica Center for Retirement Studies, RetirementJobs.com and Encore.org to introduce online tips and materials to help older workers decide how to make the most of their post-retirement years. Resources include an online career assessment tool that asks the user questions about their interests, skills and ideal work environment before recommending categories of jobs that might suit them.

"Whether you are looking for an opportunity to make a difference in the lives of others, share your expertise, network with new people or create something new, our hope is the career assessment tool will help spark ideas and conversation around what a rewarding next chapter could look like," explained Huber.

Families can find program resources and information at UnRetireYourself.com. Or, contact your local Home Instead Senior Care^® office for additional resources and to learn about professional CAREGivers^SM opportunities. Find an office near you by visiting www.homeinstead.com/state/.

ABOUT HOME INSTEAD SENIOR CARE
Founded in 1994 in Omaha, Nebraska, by Lori and Paul Hogan, the Home Instead Senior Care network provides personalized care, support and education to help enhance the lives of aging adults and their families. Today, this network is the world's leading provider of in-home care services for seniors, with more than 1,100 independently owned and operated franchises that provide more than 60 million hours of care throughout the United States and 11 other countries. Local Home Instead Senior Care offices employ approximately 70,000 CAREGivers worldwide who provide basic support services that enable seniors to live safely and comfortably in their own homes for as long as possible. The Home Instead Senior Care network partners with clients and their family members to help meet varied individual needs. Services span the care continuum – from providing personal care to specialized Alzheimer's care and hospice support. Also available are family caregiver education and support resources.

ⁱ Home Instead, Inc., commissioned two separate online surveys each consisting of 502 people in the United States and Canada to determine attitudes surrounding a return to work after retirement. One survey was comprised of 502 people in the United States (451) and Canada (51) who have unretired. The other survey was comprised of 502 people in the United States (451) and Canada (51) who said they have plans to retire within the next 5 years. The fieldwork took place between May 7 and 10, 2018.

SOURCE Home Instead Senior Care