Work careers in men's later years: transitions, trajectories, and historical change

Recent studies portray dramatic changes in the retirement experience of American men. To investigate these changes further, we analyzed life history data on two birth cohorts of men in the Stanford-Terman study, a longitudinal project that dates back to 1922. First, patterns and age of retirement are described for the whole sample, then cohort differences in retirement are examined more closely. We found that most of the sample either retired gradually (46%) or exited in a single transition (30%). Consistent with earlier research, the younger cohort retired at earlier ages while also being less likely to retire in a single transition. Though seeming to be elements of a general change in the life course, the two processes (timing of retirement and type of late-life career) are influenced by different factors. We discuss this development in terms of its implications for late-life careers and aging.