Millions of older Americans are bucking the trend of retirement, choosing instead to keep working well into their golden years. Despite being millionaires, many say they can’t resist the urge to stay engaged and active.
According to recent surveys, nearly two dozen older Americans have reported working or seeking work despite being financially set for life. The motivation varies from person to person, but most cite a desire to maintain purpose, social connections, and mental stimulation.
One such individual is Jack Bishop, an 81-year-old Air Force veteran who has spent over five decades in the restaurant industry. Despite his wealth, Bishop says he can’t bring himself to retire due to his strong connections with suppliers and community members.
Bishop’s story isn’t unique. Other respondents shared similar sentiments, citing reasons such as financial security, peace of mind, and a sense of accomplishment that keeps them working. For instance, Michael Mosher, a 74-year-old lawyer, says he’ll only stop practicing law once his brain starts to fade.
Not all of the older Americans interviewed wanted to retire in the first place. Anne Sallee, 68, thought she’d enjoy her retirement but found herself bored and restless after just two years. She now works as an economic development coordinator, citing a desire to “see in people’s eyes” how her work has made a difference.
Infectious disease doctor James Sullivan, 61, also plans to continue working until 75 or later. Despite his high salary and investments, Sullivan says he cherishes the intellectual stimulation and social interaction that comes with his job, even if it means missing out on quiet time.
As one of the oldest professions, medicine seems particularly suited to this trend. Sullivan’s experience is echoed by other healthcare professionals who value the human connections and mental challenge that their work provides.
While some may view working beyond retirement age as an anomaly, for these older Americans, it’s simply a matter of finding meaning and purpose in life. With over $10 million in assets between them, they’re in no rush to hang up their hats just yet.
Source: https://www.businessinsider.com/millionaire-older-americans-still-working-retirement-social-security-unretiring-doctor-2025-2