Older Workers Taking Stock Of ‘Bridge’ Jobs (Retiring No Longer An Option)

Investor's Business Daily ^ | 16 October 2006 | Staff

[shrinkermd]

"...He’s not alone. According to a 2005 study by the Boston College Center on Aging and Work, traditional retirement where employees totally stop working may never happen for most baby boomers. Instead, the study suggests that 50%-66% of retirees will be vying for bridge jobs, parttime or short duration work for at least five years after retirement...

[Ciexyz]

Congrats and good luck with your imminent retirement. BTW, I heard of one case, from a friend who works in a law firm, of a company laying off a gentleman ONE DAY before he became vested in a pension.

In my Dad's case, he was cut by his firm six months short of qualifying for a pension, which in that era was ten years. My Dad had worked for that firm for nine years and six months. That blow badly damaged my Dad's self-esteem and caused my family great hardship. But hey, who cares? That's the workplace, they get you one at a time. That, my friends, is one reason why I'm a cynic about the workplace. (The other reason was my former venue of employment from which I retired, but we won't go there. It's past history.)

[Ciexyz]

Congratulations and my sincere best wishes on your sound financial planning and wise decisions, which obviously brought you a comfortable retirement. Here's wishing you the best.

[Joan Kerrey]

I don't compare myself to those who can't live on $1m/year

---

sorry if I inferred that you were. I know it's tough to figure but I try my best not to try to figure too much and get stressed over it. We could go tomorrow or we might live to 100. I've seen both in friends who died rich stashing everything worrying about the future and friends who didn't worry and rode out the consequences. It's tough but at least as we get older we need less. I find I worry more about leaving something to loved ones when I go and worry less about myself.

[oceanview]

what has changed? US corporations are deconstructing benefit, pension, and retirement packages. part A pensions have gone from defined benefit, to cash balance, to (soon) nothing. yes, there are 401Ks - but more and more, the company contribution isn't automatic - its tied to some formula related to company financial performance, and as such its not a guaranteed part of your compensation package put towards retirement.

the only middle class people who will able to retire soon - will be government employees, public school teachers, etc.

this is a huge issue out there, I have been posting about it for years and been routinely trashed here on FR.

[linda_22003]

She was angry that, as far as the system was concerned, her contributions didn't count. And she did save her money; when she died she left my father and me (among other things) ten shares of Berkshire Hathaway "A" stock. (I can only buy "B" shares, myself).

I'm sorry if you don't like the way things have changed, but the 1950's - on so many levels - are not likely to return.

[CSM]

Isn't complete retirement a new expectation? My grandparents never completely stopped working.....

[spectre]

I could care less about the way things have changed, because it doesn't affect my way of life in the least..

WE did just fine on my husband's salary. I gave up a career to stay at home with my kids, and I'd do it all over again. Yes, there were sacrifices..

But today... I lack for nothing I've ever wanted (and more) and when WE die, the kids will need a calculator to add up the shares of "stock" we're going to leave them..

The 50's and the 60's were the best of times, (even tho I appreciate the microwave, computer. satellite, cell-phone and tivo)... life really was simpler back then. I won't bore you with the details...you'd just scoff at it anyway..

But it wouldn't hurt this generation to acquire some of the "saving for a rainy day" skills we practiced.

sw

[linda_22003]

I don't scoff; the fact is, the postwar period up until about 1970 was an economic boom that was unprecedented in this country. I simply said there were some discriminatory laws at the time, which have fortunately been rectified.

I appreciate a few of the modern things on your list (computer and satellite), but the microwave, cellphone, and tivo are not particularly useful or life-enhancing, to me. :)

[spectre]

I'd struggle without my microwave or TIVO...see, linda, I'm not all that set in my ways...LOL..

Anyway, I do understand what you were saying..:)

sw

[freedomlover]

Why don't you write the NYT to see if they will do an article on your parents to show how the welfare system works so well?


After that send an email to the tooth fairy for me, would ya?

[1Old Pro]

I wonder if any private schools could use a part-time chemistry/science teacher???

We could cut public school costs and property taxes in half AND increase the test scores for the first time if we hired retirees to teach in public schools for 5 years or more after retirement.

[DM1]

whenver i retire i would work part time at a mall or chain store or something for the discount and to quell general boredom