The Relationship between Work Decisions and Location Later in Life
AbstractTo what extent does continued work later in life in the form of bridge job employment impact the relocation decisions of older Americans? Continued work later in life has been suggested as a way for older workers to help maintain their standard of living in retirement, by increasing income in the near term and simultaneously delaying the date at which assets are drawn down. While the financial benefit of continued work is straightforward and potentially large, the ripple effects of continued work can impact the lives of older Americans in many other ways. This paper focuses on relocation decisions following career employment. We use the Health and Retirement Study (HRS), an ongoing nationally-representative longitudinal survey of older Americans that began in 1992, to explore the frequency and determinants of relocations among career workers who moved to a bridge job relative to those who exited from the labor force directly. For both groups we find that long-distance relocations following career employment were infrequent, as less than one in twenty career workers moved to a new Census Division. Moves that involved a change in “area” or change in residence, however, were much more common, with a frequency at the time of transition from career employment of 9 percent and 15 percent, respectively. Most importantly, the frequency of moves was similar for those who took bridge jobs and those who exited directly, as were key determinants of moves, suggesting that continued work does not significantly limit or promote relocations.
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Bibliographic InfoPaper provided by U.S. Bureau of Labor Statistics in its series Working Papers with number 458.
Length: 40 pages
Date of creation: Oct 2012
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Economics of Aging; Partial Retirement; Gradual Retirement;
Find related papers by JEL classification:
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Private Pensions
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
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- Michael D. Giandrea & Kevin E. Cahill & Joseph F. Quinn, 2008.
"Self-Employment Transitions among Older American Workers with Career Jobs,"
Boston College Working Papers in Economics
684, Boston College Department of Economics.
- Michael D. Giandrea & Kevin E. Cahill & Joseph F. Quinn, Ph.D., 2008. "Self-Employment Transitions among Older American Workers with Career Jobs," Working Papers 418, U.S. Bureau of Labor Statistics.
- Joseph F. Quinn & Richard V. Burkhauser & Daniel A. Myers, 1990. "Passing the Torch: The Influence of Economic Incentives on Work and Retirement," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number pt, October.
- Kevin E. Cahill & Michael D. Giandrea & Joseph F. Quinn, 2011. "How Does Occupational Status Impact Bridge Job Prevalence?," Working Papers 447, U.S. Bureau of Labor Statistics.
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