Walter Carpenter, 69, works at Mad River Glen ski resort despite health issues. He walks over five miles some days, gathering dishes and running the dishwasher for $20 per hour. Carpenter has no plans to retire due to insufficient savings.
About half of Mad River Glen’s staff, including part-timers, are over 65. This reflects a national trend where 19% of Americans 65 and older are still working, up from 10% four decades ago. In Vermont, 26% of residents 65 and older remain employed, the highest percentage in the U.S.
Older employees have diverse motivations.
Some find fulfillment in their roles, while others work part-time to stay connected despite having sufficient retirement savings. However, nearly half of older workers continue working out of necessity due to inadequate savings or financial setbacks.
Seniors staying employed amid challenges
John Mandeville, executive director of the Central Vermont Council on Aging, cited inflation and rising costs as primary factors stretching retirement budgets thin. The historical promise of retirement security after years of hard work is fading, leading to a growing economic burden on younger generations. Carpenter’s story exemplifies these struggles.
After a lifetime of low-paying jobs without substantial benefits, and an illness that derailed his career in his 50s, he now balances seasonal work to remain afloat. Despite living in a rent-subsidized apartment, Carpenter’s expenses contribute to tight finances, making retirement seem increasingly unattainable. According to Lisa Berkman, a Harvard professor, individuals who lose stable, full-time employment in their 50s struggle significantly more in their 60s and beyond.
AARP reports about 1 in 5 people over 50 have no retirement savings, a problem that continues to worsen. Carpenter’s relentless advocacy for better health care and social policies underscores the challenges facing America’s aging workforce—a workforce that sees retirement as a distant dream amid growing economic pressures.
Image Credits: Photo by Magda Ehlers on Pexels
