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Work after retirement — Will you or won’t you?

By Jennie L. Phipps · Bankrate.com
Tuesday, July 13, 2010
Posted: 9 am ET

Rocker and TV personality Ozzy Osbourne, who is currently on his annual Ozzfest tour, told FHM magazine that he tried retirement and "it was absolutely boring."

"You can't go and say, 'I'm retired now. That's it!' It won't take long and you're really gone for good and someone throws the last shovel of dirt on a coffin with your name on it. That's the moment you're really retiring -- when you die," he said.

Ozzy added that this would be his last tour. "I got to stay in one place for awhile," he told the magazine.

He's 61 and that desire to slow down a little without giving it all up is a sentiment that a lot of us can understand. Most of us aren't Ozzy Osbourne and we don't have his kind of choices, but working after retirement has a lot of appeal.

According to a recent study by the Pew Research Center, 77 percent of today's workers include working for pay in their retirement planning. Most of those surveyed say they'll be working because they want to, not because they have to.

But Pew finds those statements out of step with the experiences of people who are actually in retirement. Just 12 percent of the retirees Pew surveyed say they are currently working either full or part time for pay. And according to the results of another survey cited by Pew, only 27 percent of current retirees have worked doing anything for pay during their retirement.

If that's true, those of us who are counting on a paycheck as part of our retirement planning should think again.

Financial journalist Jennie L. Phipps writes about retirement planning from the viewpoint of a baby boomer who is as concerned about retirement issues as most others of her generation.

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