Saturday, December 10, 2005

Putnam Study Shows Many Retirees Reentering Workforce

Putnam Investments has released the results of a survey--“The Working Retired: Well Educated, High Income, but They Don’t Own Their Homes"--that shows that about 7 million previously retired Americans have returned to work for pay after an average sabbatical of one-and-a-half years. Most are in a job requiring at least the same skill and experience levels as their prior position. Putnam’s research was based on a national survey of 1,726 retirees who are working; they have an average age of 61. Of the respondents, most (54%) retirees work part time, 36% work full time, and the remaining 10% are looking for work; in addition, two-thirds said they planned to return to work following their first retirement.

Source: Press Release Putnam Investments (December 8, 2005)

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