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Some retirees wonder whether to return to work

06:49 PM CDT on Friday, October 10, 2008

By JIM BERGAMO
KVUE News

A late rally on Wall Street couldn't keep the Dow Jones Industrial Average from dropping again -- but this time only 128 points.

Still Friday's loss means the Dow has endured its worst weekly loss in its 112 year history.

Video
KVUE's Jim Bergamo reports
10/10/2008
Local/State Videos
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For many, recently-retired seniors, the question now is, stay retired or go back to work?

When you walk into the offices of Phurnace Software you're greeted by Judy Brittain, 57. For two to three hours a day, Brittain works as an executive assistant. And while she loves her job, she admits she didn't think she'd be here.

"I'm the oldest one here now," Brittain said. "I retired in December and everything went well. I sold my condo, rolling right along and the market fell out!"

With the stock market losing $2.5 trillion of value over the past seven trading days alone, are other seniors finding themselves in the same financial predicament?

"We haven't seen a big influx since the big financial issues have appeared in the last few weeks," said Pamela Bratton, vice president of Career Consultants Staffing Services.

Career consultants staffing services is a temp agency. Bratton admits that with the Dow dropping daily it's only a matter of time before more retired seniors will be calling her office looking for work.

"My opinion is we will get those calls, folks that have been living off the interest of their investments only," Bratton said.

Workforce Solutions is seeing an increase. The number of 55 and over job seekers who've enrolled in its employment and training programs has increased by a full one percent from this time last year. For Brittain, working at this stage of her life wasn't part of the plan, but she feels fortunate she's still able to get the job done.

"I'm young enough to go back to work, fortunately I can work part time if I want to, which is really cool so it’s okay," Brittain said.

Workforce Solutions points out that supplementing their income is not the only reason why many seniors decide to continue to work during their so called retirement years. We're living longer and healthier lives now, so some seniors say why not work? Others simply get bored with retirement and find that working a few days a week is just what the doctor ordered.