Thanks to longer lives and lower birthrates, the workforce is getting older, but not everyone is planning to kick back.
What is retirement? For many people, the traditional picture is of a time when we say goodbye to colleagues and enter a life of full-time leisure.That picture remains powerful, yet what’s striking today is the variety of approaches to this stage of life — approaches that often include some work. Think semiretirement, self-employment, part-time work and flexible hours. But we still don’t have a common language for describing that montage of late-life activities.
Farmers and ranchers, who make up just 1.3% of the workforce and mostly own their businesses, work much longer than people in other fields and occupations. And there’s compelling evidence that farmers typically stay engaged on the farm because they want to, rather than because they need to. There are a number of factors that help farmers stay engaged well into their traditional retirement years. Three in particular are worth highlighting, because each holds lessons for workers in other professions: technological innovation, lessening the workload and keeping a sense of purpose.
“Folks close to retirement whittle it down to what they like to do,” says Todd Kuethe, an associate professor in the department of agricultural economics at Purdue University.
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