Question

What are the current trends connected with retirement and seniors in the workforce.

Answer 1

FOLLOWING ARE THE TRENDS THAT ARE GOING ON

1. The trend toward continuing to work as we age has skyrocketed in the past 30 years. The number of people age 65-plus working full- or part-time has risen from just under 11 percent in 1985 nearly 19 percent in 2015. As the labor market tightens due to falling unemployment and a smaller overall workforce, it means demand for talent will increase. And more people are expecting to work into older ages.

2. The SOA's Rappaport believes housing for retirees will get a lot more attention in the next five years. The majority of older Americans own their own homes, and many still have mortgages. For many families, the value of their nonfinancial assets, primarily their house, exceeds their financial assets.

3. Artificial intelligence and Robotics are helping to include when to claim Social Security, how to create tax-efficient retirement income, fraud detection and where to live in retirement.