Before now, the traditional retirement age bracket was about 52-60. However, we are seeing that a lot more people are delaying retirement in order to have money to take care of themselves and their families. The reason for this is the increasing mortgage rates, increasing debt levels, increasing everything!
It has been seen that employment rates for those between the ages of 55 and older has increased by 3.6%,ie, 133,000 in comparison to other demographics.
This information is courtesy of Statistics Canada.
As much as this is a good thing, in that, seniors can now be useful even in their dotage, it is seen as unhealthy to some—depending on the workload, of course.
Economists and observers have said that it is actually a bad thing if all the so-called baby boomers retire at once. It will have an adverse effect on Canada’s economy.
One can’t exactly point out why the said baby-boomers want to work for longer period of time.
Here a few tips for those of you looking to work:
#1. Contract-based work: Think about it for a second: going to work on specific days at specific times instead of the usual 9a.m.-5p.m., fives times a week. A lot of employers prefer to hire retirees for benefits are not needed for it is also provided in the retirement.
#2. Stay plugged in: This could mean taking a college-level course to beef up your resume or continuously learning about the latest “things” depending on your area of expertise.
#3. Volunteer!: It is always a great idea to give back to your community. But it can also be a good way to get on the radar of employers.
#4. Research: This is the most important for anyone trying to get a job: know your employer. Ever heard the expression, “guilty by associate?”.
Well, there you have it.