What it’s like to retire in America after age 75

illuminem summarises for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:

🗞️ Driving the news: An increasing number of Americans are working well into their 70s and beyond, reflecting rising lifespans and evolving retirement norms
• According to the U.S. Bureau of Labor Statistics, nearly 9% of Americans aged 75+ were still working or job-seeking in 2024—a significant increase from 6% in 2004
• For those aged 65–74, workforce participation reached 27% last year
These numbers are expected to grow as the U.S. population continues to age

🔭 The context: Traditional retirement timelines are being redefined by a mix of financial necessity, personal purpose, and longer life expectancy
• With inflation, increased healthcare costs, and underfunded pensions, many older adults are unable — or unwilling — to stop working entirely
• Others remain active for the social engagement, structure, or fulfillment their jobs provide
• Government policy, including Social Security thresholds and Medicare eligibility, also shapes these decisions

🌍 Why it matters for the planet: As populations age globally, the sustainability of retirement systems becomes a major economic and social policy challenge
• Delayed retirement can ease public pension burdens and maintain productivity in aging societies — but also risks widening inequality if older workers stay employed out of financial hardship rather than choice
• The shift has implications for intergenerational equity, caregiving roles, and labour market dynamics, including sustainability of workforce participation across all ages

⏭️ What's next: Expect increased policy focus on flexible retirement models, age-inclusive employment practices, and reforms to retirement savings and healthcare support systems
• Employers may need to rethink job design and benefits to support aging workers, while policymakers could explore solutions like portable retirement accounts and expanded eldercare infrastructure
• Social narratives around aging and work are also shifting, demanding greater integration of older adults into economic and civic life

💬 One quote: “I still work part-time because I love what I do and it keeps my mind sharp — but I also need to cover medical costs,” said one 78-year-old retiree featured in the report

📈 One stat: The labor force participation rate for Americans aged 65–74 rose to 27% in 2024, up from 22% in 2004, and is projected to climb further in the coming decade

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