What It’s Like to Retire in America After Age 75 [The Wall Street Journal] – “There are plenty of reasons people delay retirement until later in life. Some have financial worries. Many are highly educated professionals and business owners who enjoy what they do too much to stop entirely, said Nicole Maestas, an economist and professor of healthcare policy at Harvard Medical School. Many who work longer are self-employed and might have greater control over their work hours. Others never found the right time to leave.
The financial benefits of delaying retirement can be significant. A person who continues to earn some income, even on a part-time basis, is likely to withdraw less from their savings, preserving more for later in life or heirs.
People who work longer may also be able to delay Social Security, which increases its payouts by up to 8% for every year they refrain from collecting a check between ages 62 and 70.
Those who enjoy their work say that it provides social contact and mental and physical stimulation.
We spoke with four retirees about how they made it work:”