What factors influence decisions to continue working or volunteering in retirement?

Jump to Answer Section

What factors influence decisions to continue working or volunteering in retirement?

What factors influence decisions to continue working or volunteering in retirement?

Answer & Explanation (1)

Here is a tip:
A person decides on retirement either when they are comfortable with it or when the things are not comfortable.

The decision of retirement can be voluntary or involuntary. Retirement refers to withdrawal from an occupational setting or active working life permanently by a person.

The reasons for working even after the age of retirement can be-

Financial instability- A person may find difficulty in terms of money to live their life with necessary things because they do not have sufficient savings.
Work enjoyments- Some people get attached to their work and do not want to leave it. They use their experience to experience pleasure from work and contribute towards the betterment of the organization.
An old age individual may retire from their job due to their wish can be due to-

Financially stable- A person usually decides to retire when there are sufficient finances present to help a person maintain a basic living standard and wants freedom from a professional career.
Poor health conditions- At old age, an individual experiences weakness, many diseases like cardiovascular diseases, coronary diseases, blood pressure issues, and psychological issues like forgetness, memory issues, and so on are observed. As a consequence, it becomes difficult to work at a job.
Spend time by social interactions- Social support matters a lot in old age due to its positive effect on the overall wellbeing of the person. A person wants to spend time with people who give immense pleasure to the person. For instance, going out and making friends boost the self-esteem of the person and spending time with their children and grandchildren.
Fulfill their wishes- Some people think that their responsibility is to share the knowledge and skills they have acquired throughout their careers. For instance, a cricketer after retirement may work as a coach to teach budding cricketers.
Expressing skills and knowledge- To fulfill their desires, which could not be fulfilled due to lack of time as they used to spend most of the time at work. Desires could be activities like traveling, spending time in activities in which they have extreme passion, and so on. For instance, after retirement, a person can join an NGO to help others.
Verified Answer
The reason for which an elderly do not take retirement can be-

They want to work because may do not have enough savings to live their lives.
They like to indulge in work as they want to apply their experience in their job.
The voluntary reason to be retired in old age can be-

When an individual has sufficient savings to spend their life after leaving a job.
To spend time with the community and their children.
To fulfill the remaining desires, which were ignored due to lack of time.
To involve in the skills and abilities, a person possesses to bring benefits in themselves and society.
Due to deterioration in physical and mental health, they are not able to work at a job.

Purchase answer to view it. $5

Login/register for free and load your wallet instantly with $5 to buy this solution.