Question

Which of the following best explains why older people approaching retirement age have no intention of retiring?

O Mary employers want to stay away from the costs of hiring a younger crowd and refuse to retire the older workers.
O Older workers typically occupy the best-paid jobs and hence prevent the hiring of younger workers.
O Improved heaith of older people in general, in combination with the decreased physical labor in many jobs, has made working longor a viable option.
O Employers are ignoring situations where it is more expenshe to pay for an older worker's experience than to hire younger employens.
O Stutistical forecasting results have shown that oider people are an asset to an organization's economic strength.

Answer 1

Older people often continue working past retirement age due to improved health, less physically demanding jobs, and financial considerations. Many Baby Boomers, with their healthier lifestyles and need for purpose, choose not to retire at 65. Additionally, older workers may feel compelled to maintain their jobs to ensure financial stability amid economic uncertainties.

Step-by-step explanation:

The most accurate explanation for why older people approaching retirement age have no intention of retiring is related to improved health and the nature of work in modern society. Improved healthcare and healthier lifestyles contribute to seniors being more physically able to continue working. Additionally, many jobs today require less physical labor, making it feasible for older individuals to work longer. The shift in societal norms also means that turning a certain age doesn't equate to an automatic cessation of work. The Baby Boomer generation, in particular, is known for its reluctance to retire at the traditional age, wanting to remain active and engaged in their professions.

This is also often combined with financial pressures or a desire to maintain a sense of utility and purpose. Furthermore, economic considerations play a role. Older workers may be staying in their jobs due to the need for financial security and adequate retirement savings, especially in the context of recessions or inadequate pension funds. The trend is sustained by a potentially lower natural rate of unemployment among middle-aged workers who stay in their jobs longer than younger workers, who tend to experience higher unemployment rates due to job mobility.