BOSTON (CBS) – The reality is that may not be possible for a variety of reasons.

According to the Bureau of Labor Statistics  only about 6% of workers over 65 were in the workforce in 2016. But if you survey workers and younger Boomers in particular close to 70% plan to work for pay in retirement.

But most employers are not ready or willing to accommodate older workers. And they will not consider a 65+ year old intern! That only happens in the movies. The movie, The Intern, had Robert DeNiro at age 70 working as an intern and succeeding against all odds.

So what’s the disconnect here? Working until you are 75 is the exception rather than the norm and should not be your retirement plan. There are too many variables as we age.

  1. You could get downsized in your 50s and never financially recover. You eventually find work but not at the same pay level.
  2. You could get downsized in your 60s. Can you prove discrimination? Maybe. Here again you may be able to find work but it may be at Home Depot or Wal-Mart.
  3. Your health fails or you become disabled and you can’t work. As we age our body parts begin to wear out – arthritis sets in and some mornings it is difficult just to get moving.
  4. You just get tired and can’t do the job you did at 40 or even 50. You can’t stand on your feet all day cutting hair, pounding nails, making pizzas or driving a tractor.
  5. Elder care: not yours but your parents. They are living longer and requiring your care.
  6. Grandkids: a lot of grandparents are babysitting or have full custody of their grandkids!

If you are planning to work forever, as I am hoping to do, consider having a backup plan. Save for retirement as if you will retire at 60 or 65. Always good to have plan B if things go south.


You can hear Dee Lee’s expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.

Subscribe to Dee’s Money Matters newsletter here.


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