Can I Choose to Work for a Company Until 80 or Do I Have to Retire at the Retirement Age?

There is a common misconception that there is a mandatory retirement age that all employees must adhere to. In reality, many professions allow individuals to work until they choose to retire, provided they can still perform the necessary tasks.

Overview of Mandatory Retirement Ages

There are indeed some professions where a mandatory retirement age is enforced, such as commercial airline pilots. The Federal Aviation Administration (FAA) mandates that pilots must retire at 65, although efforts are currently underway to extend this to 67. However, these regulatory requirements typically do not apply to company policies or decisions made by individual employees.

Can You Work Until 80?

Whether you can remain employed until 80 largely depends on the nature of your job and your ability to fulfill your duties. Many famous examples of people continuing to work well into their 80s and beyond provide insightful evidence of this.

Robert De Niro, Al Pacino, Warren Buffett, and Rupert Murdoch are just a few notable individuals who have worked well past the age of 80. There are countless other less publicized older professionals who continue to contribute to their fields. The key factor is whether you can still perform your job to a high standard.

Physical and Mental Capabilities

While there are instances where physical abilities decline significantly, such as in professions requiring high levels of physical activity (e.g., neurosurgery or fishing), many cognitive and administrative roles do not have strict age limits. This is exemplified by the famous pianist, Arthur Rubinstein, who continued performing until the age of 89.

According to current laws, most mandatory retirement policies have been deemed unlawful. However, individual companies still hold the power to set their own policies. For instance, some employers may choose to set a retirement age based on performance rather than age alone.

Personal Choices and Employer Perceptions

Ultimately, the decision to continue working is often a personal one. Individuals like myself and my client at the University of Michigan Ann Arbor, who continues to teach two classes a semester at 82, demonstrate that if you can still do the job and the employer is willing to hire you, working until 80 is entirely possible.

Your body and mind will indeed give you signs when it's time to stop. However, if you feel capable and the company is accommodating, there is no age limit to the length of your career.

In conclusion, while there are exceptions and limitations, the general rule is that you can work as long as you want to and as long as you can still fulfill the job requirements. The age at which you choose to retire is ultimately a personal decision influenced by a combination of physical, mental, and professional factors.