Jobs News - Some Older Workers Choose New Degrees Over Retirement




Some Older Workers Choose New Degrees Over Retirement
22 October 2009
 Some Older Workers Choose New Degrees Over Retirement
Older workers seeking to stay ahead of changes in the economy or expand upon their savings are commonly switching careers shortly before retiring. Though a wealth of experience aids these employees in making the lifestyle change they desire, some jobless older Americans are seeking new degrees to help them build credentials for a career change.

Though she'll be 60-years-old when she finishes school, Linnea Schmidt gave up her Florida pottery business, which was disturbed by the recession, to work toward a degree in business administration with an emphasis in healthcare management.

According to the Sun Sentinel, unemployment rates among workers 55-years-old or older are at their highest since 1948.

Betsy Richards, director of career resources at Kaplan University told the news source, "[Older workers] are coming back to solidify their credentials or transition to a new career."

According to Richards, business, education, healthcare, criminal justice and information technology are the most common areas of study for Americans older than 55.

A 2005 study by the Department of Labor Statistics found that 57 percent of U.S. holds maintained at least one retirement account, with the average sum in the accounts totaling $49,944.
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