You probably know that most people go straight into retirement from full-time work, but did you know that two in five retirees would be interested in continuing to work? Not only can jumping into full time retirement be less fulfilling, but it also might be a bit boring, unless you have done extensive planning for your retirement. Ask the 11% of those in retirement who have looked for a job. Going headfirst into full retirement can also be bad for your health. According to the National Bureau of Economic Research (NBER), people who went straight into full time retirement saw up to a 16% decrease in mobility and up to a 9% decrease in mental health within the first 6 years of retirement. So how do we stave off the decline that going into full retirement brings? The answer is: phased retirement options and bridge jobs.
Phased retirement is a transition to retirement consisting of reduced hours and responsibilities at your present employment. Bridge jobs are another option for when phased retirement is not offered. Bridge jobs are a short term job taken before retiring completely. An NBER survey of people 55 years and older showed that 38% of the respondents had a bridge job. About one-third of those respondents holding a bridge job were looking for less responsibility and an end in site. So what can we, as assisted living providers, do to help older Americans continue to work, whether for pleasure or necessity?
In our 20 years of assisted living experience in Utah County, and at Bel Aire Senior Living, we have learned first hand that many retirees either need to or would not mind doing some form of periodic work. In addition to giving someone purpose and responsibility, the opportunity to work is not regularly found in assisted living environments. At Bel Aire we have plans to create a modular office space for those who would like to continue working. Office spaces would include desk space an office phone, computer, and drawer storage. These modular office spaces will be rented for a nominal monthly fee for use, but would be an ideal option for those still wanting to earn additional income and conduct business. Residents would be able to work flexible hours at their discretion. This would give them a familiar purpose and routine, and it would also put them in proximity with other residents interested in business.
Would you be interested in a future office space? Comment below!
Do you have questions about assisted living for you or a loved one? Give us a call, visit our website, or stop by today!
Bel Aire Senior Living
1088 E 390 S
American Fork, UT 84003