American workers typically retire by about age 62 because of health, layoffs, or simply because they’re ready for a well-earned rest. Nonetheless, more and more people are working past the usual retirement age. The U.S. Bureau of Labor Statistics estimates 19.5% of adults aged 65 or older continue to work, nearly double the percentage in 1985.
“Many folks define retirement as a new chapter in life rather than a time of leisure,” says Lena Haas, head of wealth management advice at the financial services company, Edward Jones. “It’s a chance to pursue what they love, whether that’s staying at their job, finding a second career or starting a business.”
