Over 65 and Still Working: Why More Women Are Refusing To Retire

Women are increasingly working past retirement age, often full time. According to the Wall Street Journal, approximately one in seven women now work past age 65, compared to one in 12 women in 1992. By 2024, that figure is expected to increase to almost one in five. What explains this trend? First off, the timeline of women’s career paths is significantly changing. Women have more education than ever before and their career advancement is starting to align with that of men. Thus, women are now choosing to have children later in life than they did in previous generations. They are also much more likely to return to work after having their kids and to work longer. Surprisingly, surveys indicate that women are not working into their 70s because they need the money, but because they enjoy it. In fact, the postponement of retirement is more common among women with higher education and adequate savings. Further, due to the surge in two-income households, older Americans are in a better position financially than the generation before them. This lends support to the positive notion that women in good health, who are highly educated and have spent years building their careers feel valued at work, enjoy what they do and simply aren’t ready to let it go.