The End of Retirement as We Know It - An Interview with Economist and Journalist Chris Farrell
Each day more than 10,000 Baby Boomers reach age 65. Traditionally, turning 65 meant senior discounts, occasionally socializing with friends over a game of bridge, and trips south for warmer weather. Today, retirement is being redefined. Nearly 60% of employees over 60 plan to continue working, but on their terms. As economist, journalist, and retirement expert Chris Farrell explains in this episode, taking on a job after retirement can have great health benefits and improve quality of life.
Many people who reach traditional retirement age are reinventing themselves because they know they still have a great deal to contribute to society. Others continue to work because the extra income is helping them live the kind of life they want. This has significant implications for organizations that are interested in engaging and retaining their most experienced people. Shifting careers later in life may seem daunting, but with the right tools and advice, changing careers is possible.
Another topic Chris addresses in this interview is FIRE (Financial Independence, Retire Early). Many young people, particularly in well-paid technology jobs, are choosing to amass large sums of money and opt out of the workforce in their 40s, or even 30s. Chris shares his thoughts on what that means to organizations that lose these people and the prospects for someone who ends their career prematurely.
Chris Farrell has studied retirement and the shifts in our aging workforce extensively. An author of five books including Unretirement and Purpose and a Paycheck, Chris is an expert on how we can find happiness, health, and security in our later years.