Purpose and a Paycheck is a new book from Chris Farrell, a leading expert on retirement and workforce issues facing people over the age of 50.
The book covers the "new retirement".
This is the growing trend towards older workers delaying retirement and continuing to work, either in traditional jobs or by starting their own businesses.
Regular readers know this is a topic we cover often (see our Baby Boomer section).
In fact, back in 2013 we wrote:
We've written so often for so long about Americans - and especially baby boomers - delaying retirement that we're honestly getting tired of the topic.
But since then it has grown in importance.
The reasons are encapsulated in the book's tagline: finding meaning, money and happiness in the second half of life.
Lots of research, much of which is cited in the book, shows that staying engaged and active in retirement leads to greater levels of health and happiness.
Older Americans have figured this out and more and more are choosing to work longer — or have to, given that many haven't adequately saved for retirement.
This makes Purpose and a Paycheck a timely look at this topic.
The book's first few chapters debunk "the myth of creative decline" by pointing to extensive research showing that older people are as creative, innovative and entrepreneurial as their younger peers.
Farrell also covers research showing that older workers are generally just as productive and younger workers, and often more productive.
The rest of the book focuses on the different ways older workers are staying attached to the economy. This includes self-employment, entrepreneurship, full-time jobs, part-time work, flexible employment and encore careers in both the for and non-profit sectors.
Throughout the book Farrell includes personal stories of people who’ve successfully continued working well past the traditional retirement age.
These stories include practical advice that anyone considering the new retirement will find useful.
The book also contains an analysis of the economic impact of an aging society as well as policy suggestions on how to deal with ageism and other age related issues.
Anyone considering working past the age of 55 will find this book of great value.
So will anyone who is older and not working, or younger and planning on not working when they get older.
While choosing a life of leisure sounds great. The reality is those who stay engaged and contribute to society live better lives.
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