Thursday, August 16, 2007

It's Not Funny Money, Honey

Why all the buzz about a beekeeper from Kansas? It seems that Waldo McBurney is America's oldest worker, at age 104. He has lots of company: according to the U.S. Department of Labor, over one million Americans over the age of 75 are still in the workforce – some by choice, others by necessity. About 318,000 working Americans are age 80 and above. These numbers are only expected to increase as Americans live longer, and in some cases, outlive their 401(k)s, savings, and Social Security benefits.

As available and qualified labor pools shrink, more companies are looking to experienced older workers to fill in the gaps. When the Senior Citizens Freedom to Work Act was initiated in 2000, allowing workers ages 60-69 to earn unlimited income without losing Social Security benefits, more older workers rejoined the workforce. The gradual phasing out of traditional company pensions and health benefits has also, out of necessity, required some retirees to return to work. For some adults, going to a job beats staying at home, and they point to the tremendous personal satisfaction received from their contributions on the job.

Still wondering about Mr. McBurney? He took up long-distance running at age 65 and believes in hard work. Says Mr. McBurney, "I'm not a strong believer in retirement. I don't think retirement is in the Bible. Maybe it's there, but I haven't found it." To learn more about him and his secrets to a long, happy life, you can read his book, "My First 100 Years: A Look Back From the Finish Line", now available from www.amazon.com.