It might be time for a change.
It’s well known that young people tend to be job-hoppers.
But if people in their 50s want to keep working well into their 60s, a recent study suggests they should probably follow the younger generation’s lead.
Researchers from the Center for Retirement Research at Boston College found that individuals who switch jobs in their 50s see a statistically significant — 9.1% — increase in the likelihood of staying in the labor force until age 65.
The finding drew upon a survey of 2,537 respondents from ages 51 to 61, out of which 13% of participants voluntarily switched jobs.
According to the study authors, “the rise in job-changing appears to be largely voluntary, with workers likely moving to jobs that they consider better. This behavior could extend the careers of these workers, thereby improving their retirement prospects.”
And while the researchers also note that job hopping comes with risks like bad job fit and losing the protection tenure provides against layoffs, the results clearly indicate that the first effect of a later exit from the job market is more likely.
So, if you’re feeling like your career is stalling out in your 50s, it’s not too late to make a big switch. In fact, if lengthening your career is your goal, it’s smart to start looking around for something new instead of trying to stick it out.
The numbers indicate that a move could really end up lengthening your career.
Source: Business Insider SG