Americans who work past age 65 are reaping benefits beyond just fatter bank accounts. They also are more likely than younger workers to report being happier about working and gaining positive health benefits from it, new research shows.
More than two-thirds of adults 50 and older say work has a "positive" impact on their physical and mental health, and on their sense of well-being, according to a poll conducted by University of Michigan researchers.
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These benefits are most pronounced among people 65 and older – 79% report work has a "very positive" or "somewhat positive" impact on their physical health. By contrast, only 64% of workers ages 50-64 say likewise. And there is a similar divide regarding mental health.
Also, 32% of older workers say work has a "very positive" impact on their physical health, with only 14% of workers ages 50-64 report the same impact. Similarly, 41% of people ages 65 and older say working is beneficial to their mental health, compared to 20% of workers ages 50-64. Older workers also are nearly twice as likely to say working has a "very positive" impact on their sense of well-being.
"Our perceptions of working after age 65 have changed over time, and these data suggest that most older adults who are still able to work after the traditional retirement age derive health-related benefits from doing so," Dr. Jeffrey Kullgren, who directed the poll, said in a statement.
Previous research has shown that working later in life helps keep people mentally stimulated and engaged socially, in addition to lowering the risk of chronic disease. A 2016 study found, for instance, that early retirement may be a risk factor for death and that working longer may help people live longer.
Retirement age has been increasing since the 1980s. According to a 2023 Pew Research Center poll, about 19% of people 65 and older were working in 2023, compared to 11% in 1987. The percentage of older Americans working in 2023 was similar to the 1960s, when 18% of older Americans worked.
The are several reasons that Americans are working later in life, according to the Pew research. They are healthier than they were in the past. The shift to 401(k)s from pensions incentivizes people to worker longer. And Social Security raised the age from 65 to 67 to receive full benefits.
The University of Michigan poll, published Tuesday, also found that 46% of people 50 and older say having a sense of purpose and keeping their brains sharp are the primary reasons they keep working.
To better support older Americans in the workforce, employers can allow time off for medical appointments and implement policies that help people continue to work "across ages and life stages," the researchers wrote.
The nationally-representative survey was administered by phone and online to more than 3,000 people ages 50-94 in August.