21 terms

Chapter 11 - Work and Retirement

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Volunteering
Another frequently mentioned activity of retired adults.
Age Discrimination in Employment Act (ADEA)
Prohibits discrimination against workers 40 and older.
Formal planning
A seminar or workshop offered by a professional to provide information about financial preparation for retirement; offered to a very limited number of workers.
Honeymoon
Second phase of retirement; one experiences an elevated mood and has time to do all things planned for.
Bridge job
A transition to retirement where one takes a different, typically part-time, employment for a short period of time before fully retiring.
Pensions
Retirement income from plans enrolled in while at work; not available to most workers.
Disenchantment
Fourth phase of retirement, rarely experienced, when one unhappy with retirement and may seek to terminate it.
Preretirement
First phase of retirement composed of two parts; remote is the beginning of plans and setting aside of funds for retirement by people a long way from retirement; near is shortly before retirement when one sets a date, informs supervisors, applies for social security, and so on.
Carpal tunnel syndrome
Pain and numbness in the wrist(s) as a result of continued strain over long periods of time.
Social security
Federally financed income for retired persons; received by 95% of retired persons; not meant to fully support retirement.
Termination
Fifth stage of retirement; when one returns to work because of disenchantment and/or a need for financial support.
Retirement routine
Third phase of retirement; a regular schedule of events and activities during retirement.
Revolving retirement
When one retires then later returns to work and then retires again (and perhaps another round of work and so on).
Savings and assets
A source of retirement income for some; income from investments made during working years and/or use of assets (renting a house).
Phases of retirement
Athcley's description of patterns and regularities of retirement.
Retirement
Self-determined or voluntary withdrawal from work.
Job performance
One's productive quantity and quality at work.
Travel
One of the most frequently mentioned activities of retired adults.
Three-legged stool
The three components of financial support for retirees: social security, pension, and savings/assets.
Busy ethic
Remaining valuable to society during retirement by remaining busy.
Informal planning
Preparing for retirement by consulting with spouse and other members of one's social network.