A late-career job switch may be a boon for a financially secure retirement.
Workers who voluntarily change jobs in their 50s tend to stay in the workforce longer than those who stick with their initial job, according to the Center for Retirement Research at Boston College. According to a new paper, the likelihood of still being in the workforce at age 65 was 9.1 percentage points higher for workers who had changed jobs. (See chart below for breakdown by education.)
"If you're able to find a job that to you seems better and worth a switch, on average at least that seems to lead to longer careers," said co-author Geoffrey Sanzenbacher, a research economist at the Center for Retirement Research.