Harvey Mendelson is no stranger to reinventing himself. Over the past sixty years, his career has spanned from stock brokerage to real estate to car sales, along with founding several companies along the way. Now, at the age of 88, he has found a new passion in photography.
Living in California, Mendelson runs a photography gallery and digital printing company in a local theater, as reported by Business Insider. He showcases his work there and is responsible for creating flyers for the theater. He mentioned that the job doesn’t bring in a high income, but he doesn’t need much money either as he is debt-free. Despite not being wealthy, he believes the key to financial comfort in retirement is avoiding the urge to upgrade one’s lifestyle excessively.
“You retire at 65 and then suddenly you’re 80,” Mendelson said. “You need to strive to do what you love, and for me, living independently has always been my goal.”
Among the over 550,000 Americans aged 80 and above still employed, Mendelson is one of them. In the coming years, he will join the ranks of the 36,000 workers aged 90 and above.
Business Insider interviewed over a hundred members of the “silent generation” (born between 1928 and 1945), finding that either by choice or necessity, they are still engaged in at least part-time work such as bookkeeping, law, forklift driving, and retail at places like Home Depot. Most expressed a love for work and valued active engagement in social activities. Many are in good health, with around half of those interviewed stating that while the extra income is useful, it is not essential.
Some mentioned working to supplement social security and other retirement incomes out of fear that unemployment due to illness could lead to insufficient funds. Despite health issues like cancer, heart failure, and arthritis, a few still persevere in working. However, many elderly Americans face barriers to employment due to health problems.
This demographic is the fastest-growing segment of the U.S. workforce. According to the U.S. Bureau of Labor Statistics, the likelihood of Americans aged 75 and above being employed has doubled since the early 1990s.
To better understand America’s aging workforce, Business Insider analyzed the 2023 American Community Survey by the U.S. Census Bureau, the most recent survey to date. The study reviewed the individual survey responses of Americans aged 80 and above collected by the Integrated Public Use Microdata Series (IPUMS) to determine how many are working, in what occupations, and how their demographics and income compare to the general population.
Business Insider’s analysis found that popular occupations for those aged 80 and above still working include managers, retail salespersons, lawyers, drivers, and real estate agents. Top workplaces for them include schools, construction companies, religious organizations, property lessors, legal services, among others.
In 2023, the average income for employees aged 80 and above was $57,100. Approximately one-third earned less than $40,000, indicating part-time or low-wage work likely aimed at supplementing social security benefits. Meanwhile, around 26% earned over $100,000 annually, with over 10% making at least $200,000.
For the 17,000+ senior managers aged 80 and above, construction was the most common industry, followed by finance, consulting, mining, and scientific research. Nearly 2,400 seniors in construction held managerial roles. CEOs in their eighties and nineties were most likely leading construction firms, real estate companies, tech firms, and food service companies.
In the construction industry, those aged 80 and above were most likely to be workers, managers, carpenters, CEOs, plumbers, or electricians.
Retail salespersons tended to work in building materials suppliers, warehouse-style stores, car dealerships, and clothing retailers. Over a dozen retail workers told Business Insider that their wages in these roles were slightly higher than the minimum wage, and they took these jobs because they couldn’t find work in their field.
More than 10% of employees aged 80 and above reside in California, followed by Florida and New York.
The educational attainment of workers aged 80 and above in the U.S. surpasses that of the overall population in that age group. Nearly 42% hold a bachelor’s degree or higher compared to about 27% of the total population.
Late-career workers aged 80 and above are predominantly white males. Nearly 60% are male, accounting for 40% of the total population aged 80 and above.
Over the past forty years, the proportion of workers aged 80 and above among all Americans in that age group has increased. In 1980, only 2.9% of those aged 80 and above were working; by 2019, this figure had risen to nearly 4%, reaching 4.2% by 2023.