Why Working Till Whenever Is a Risky Retirement Strategy
Cleo Parker had a simple plan before retiring: She would work well into her 60s as a marketing analyst in the automotive business. But recently, she has been searching for a Plan B.
In 2006, just as she was about to turn 50, Ms. Parker’s longtime marketing job with a Detroit-area advertising agency was eliminated. For the next decade, she worked a series of short-term-contract and full-time positions — many in the volatile auto industry, which has reduced employment levels drastically since the 2008 financial crisis. Ms. Parker’s last full-time job, as a marketing analyst for a pet supply retail chain, evaporated in 2018.
Ms. Parker has since interviewed for more than 30 positions. At age 62, she often finds herself chasing jobs for which she is overqualified and that pay far less than what she had been earning.
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