Question

Why are people retiring later in life now than they were previously? Is this because they don't want to "sit around all day" or because they have not accumulated a large enough nest egg?

Answer 1

People of retiring later in life than they were previously because they want to keep themselves busy as they do not want to sit around all day because there is a tendency in modern and sophisticated world to always keep themselves busy and not sit all day so people are trying to keep themselves busy by working in later in their life.

There has also been a growing tendency of accumulating a large money as the expenditure of people have gone up and they want to work till the later stages in their life in order to meet up with their expenses and they also want to pass on a large amount of money to their hiers and they also want to keep working in order to keep themselves in line with the the global trends.

If people are retiring earlier in the life, they will be forced to sit at their homes all day and that would be very boring in nature and the current world is all about remaining busy and having a network so loneliness is another factor because of which people are preferring till work the later stages, as they will be having a higher amount of time around their colleagues and they will also be senior so they will be having The upper hand in administrations and they will be having the flexibility in management and they will be also having the highest of their salary so they will be trying to exploit it as much as they can and work till late stages in the life, in order to maximize the advantages and pass it on to their hiers.