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Does Working Longer Make People Healthier and Happier

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Author Info
Esteban Calvo () (Center for Retirement Research at Boston College, Boston College)

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Abstract

Financing retirement is one of the major challenges facing an aging U.S. population. If individuals continue to retire in their early 60s, many will be hard pressed to maintain an adequate standard of living throughout retirement due to the declining role of Social Security, the shift to 401(k) plans, and low personal saving rates. Combine the retirement income crunch with the dramatic increase in life expectancy, and continued employment in later life appears to be an attractive option. While it is clear that working longer would benefit older Americans financially, less attention has focused on the non-monetary effects of work at older ages. This brief addresses the impact of late-life paid work on physical and psychological well-being. The first section reviews the literature on work at older ages and elderly well-being. The second section describes the analysis. The third and fourth sections present the results. The fifth section identifies vulnerable groups. A final section offers concluding thoughts...

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File URL: http://crr.bc.edu/images/stories/Briefs/wob_2.pdf
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File Function: First version, 1996
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Publisher Info
Paper provided by Center for Retirement Research in its series Work Opportunity Briefs with number wob_2.

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Length: 14 pages
Date of creation: Feb 2006
Date of revision:
Handle: RePEc:crr:crrwob:wob_2

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Related research
Keywords: retirement; health; depressive symptoms; mortality; well-being;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Keith A. Bender & Natalia A. Jivan, 2005. "What Makes Retirees Happy?," Issues in Brief ib2005-28, Center for Retirement Research, revised Feb 2005. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Barbara A. Butrica & Karen E. Smith & C. Eugene Steuerle, 2006. "Working for a Good Retirement," Economics Working Paper Archive wp_463, Levy Economics Institute, The. [Downloadable!]
  2. Alicia H. Munnell & Steven A. Sass, 2007. "The Labor Supply of Older Americans," Working Papers, Center for Retirement Research at Boston College wp2007-12, Center for Retirement Research, revised Jun 2007. [Downloadable!]
  3. Calvo, Esteban & Haverstick, Kelly & Sass, Steven, 2007. "What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?," MPRA Paper 5607, University Library of Munich, Germany. [Downloadable!]
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