Many Americans over 80 work due to financial necessity (inadequate savings, rising costs, Social Security shortfalls), the desire for purpose, mental/physical engagement, social connection, and the availability of flexible/remote jobs, while employers also value their experience, all shifting retirement norms.
For some elders, this isn't a passion project it's survival. Rising #healthcare costs, weak retirement savings, and the real fear of outliving their money are forcing people back into the workforce, sometimes into minimum wage #jobs, even when their bodies are tired. For others, work is purpose.
As of 2023, nearly 550,000 people were working into their 80s and beyond, according to our analysis of Census data — more than 4% of the population over 80.
The trend of older Americans, particularly those aged 65 and older, remaining in the workforce is largely driven by increased life expectancy, economic necessity, and the evolving job market. With the cost of living, many older individuals find it essential to continue working to secure their financial stability.
Right now, the average age for men to retire is 65 while the average age for women to retire is 63. While many people say they will work for as long as they can, others retire earlier than expected. However, retiring even a few years earlier than you'd anticipated can be costly.
According to figures from the BLS, about 900,000 Americans over 75 were part of the labor force in 2023. Today, that number is nearly two million and by 2033, the BLS expects the figure to exceed 3.5 million. Doubtless, some of these people simply wish to continue working.
Yes, $80,000 a year is generally considered a good retirement income, often providing a comfortable lifestyle by replacing 70-80% of a decent pre-retirement salary, though its adequacy depends heavily on your location, specific expenses (especially healthcare), and lifestyle goals, potentially requiring around $1.5 to $2 million in savings using the 4% rule to generate that income.
Essentially, as long as the 80-year-old has access to help and socialization and can take care of their own needs, they can live alone. However, they should not always be alone.
More older adults are returning to work because Social Security and savings aren't keeping pace with rising costs for health care, housing, and everyday essentials. One in five Americans over 65 is back in the workforce, and projections show that number climbing even higher.
Life expectancy at age 80 varies but generally adds several more years to one's life, with U.S. figures showing around 9-10 years on average, though it differs by sex, with women often living longer; for example, older data from the U.S. suggested around 9.1 years for white women and 7.0 for white men, while more recent data shows narrowing gaps, with Black Americans potentially living slightly longer at this age than White Americans, though data can vary by source and year.
1. Health Services. Those working in health care and social assistance who were 65 or older numbered nearly 1.6 million in 2024, according to the BLS. This industry could be a great option if you're interested in medicine or want to advise others on their well-being.
The most common cause of death for people over 80 is Heart Disease, followed by Cancer, Stroke, and Respiratory Diseases like Pneumonia/Influenza, with falls also being a significant contributor to injury-related deaths in this age group, though heart disease consistently leads. Cardiovascular diseases, including heart attacks and strokes, account for the largest share of deaths, often exacerbated by common chronic conditions in older adults, notes the Centers for Disease Control and Prevention (CDC) and USAFacts.
The $1,000 a month rule is a retirement guideline suggesting you need about $240,000 saved for every $1,000 per month in desired income, based on a 5% annual withdrawal rate (5% of $240k is $12k/year, or $1k/month). It's a simple way to set savings goals, but it doesn't account for inflation, taxes, or other income like Social Security, so it's best used as a starting point, not a complete plan.
The Millennial generation still scores better when evaluating general knowledge but also beats the Z generation when it comes to extroverted skills like verbal reasoning.
Loneliness is associated with increased risk of heart disease, dementia, stroke, anxiety, and depression. In contrast, improved social connection is associated with increased longevity and better social, emotional, and physical well-being. Schedule daily time to be in touch with family, friends, or neighbors.
Get involved in local community activities. These will vary according to where you live, but the chances are you'll have access to a singing or walking group, book clubs, bridge, bingo, quiz nights and faith groups.
Only a small percentage of Americans retire with $1 million or more in retirement savings, with figures from the Federal Reserve and Employee Benefit Research Institute (EBRI) showing around 3.2% of retirees hitting that mark, though some sources cite slightly lower numbers for all Americans (around 2.5%) or higher estimates for households nearing retirement (over 10% of older households have $1M+ net worth, not just retirement funds). The reality is most retirees have significantly less, with the median for ages 65-74 being around $200,000-$609,000 in retirement accounts.