THE BASIS POINT

Wait, how many people are working into their 80s?

 
 

Chronological age matters less than how well our bodies and brains work — and how much we need money. No surprise that more and more folks age 80+ do indeed still work.

The Washington Post’s Tara Bahrampour analyzed Bureau of Labor Statistics data and found the number of workers age 80 and older spiked from 110,000 in 1980 (2.5% of the 80+ population) to a 734,000 peak in 2019 (6% of those age 80+).

Business Insider updated the number to show 5.16% of those age 80+ are still working (see chart).

Anecdotally, it feels like this percentage is higher from what I see with family, friends, and clients of all the lenders I work with.

Bahrampour also notes life expectancy is now 79, per CDC. So basically people are working till they die.

Sounds harsh worded like that, but if I apply the anecdotal evidence to this life expectancy stat, most of the older folks working this long — plus those in their 60s and 70s — all say things like:

“Of course I’ll work to the end, it keeps me sharp. What am I gonna do, sit around and rot all day?”

I personally agree with this sentiment. I just hope two things: (1) I’m more working for choice than financial necessity by then, and (2) I stay healthy.

Sadly, that’s not always the case. Which just makes me want to work even harder now. But that’s not healthy though, right?

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Reference:

Biden turns 80 and joins growing ranks of octogenarians who still work

 
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