Why Older Workers Do What They Do

Psychology plays an important role in determining when American workers decide to retire.

Researchers at LIMRA International, Windsor, Conn., have published analyses of older workers’ retirement planning efforts in a review of results from a survey of 3,393 retirees and pre-retirees with at least $50,000 in investable assets.

When the researchers asked retirees why they retired when they did, only 39% said health problems were either a major reason or a minor reason, and only 17% said they were forced to take early retirement.

About 68% said they retired because they were “financially able to,” and 58% said they wanted to get away from the stress of the job, the researchers report.

Another 48% said they were “tired and no longer wanted to work.”