Most experts on the subject believe that the Social Security system will be bankrupt in about 15 years. However, some new studies have offered a ray of hope. They seem to indicate that the assumption that the boomer generation will retire at 65 or 67 and sit back to collect their social security checks is incorrect.

They believe a sufficient percentage – some estimates are as high as 80% - will continue to work in some capacity or another, relieving much of the pressure on the system.

This is probably the only ray of hope for many who have visited financial planners or bought personal finance software to see how much they need for retirement. These usually show you need a million or more dollars to retire with your current lifestyle. But again, they don’t take continuing earnings into account.

Many in the baby boomer generation plan to retire at around 65, but then start a second career, doing something they enjoy. Most don’t want to continue on in their present jobs or move to low paying work at fast food restaurants or supermarkets.

Rather they would rather make their accumulated knowledge work and, if possible, also give something back to society at the same time.

Health experts say this trend will be beneficial in that by staying involved, those past retirement age will stay healthier and will be happier with their life.

So it seems that several trends are converging. Those in their 60’s, 70’s and early eighties are healthier than ever. Because of their increased longevity and the shortfall in their retirement savings, they need to continue to earn. And many companies who once looked on older workers with distain, now seem to realize the value they can contribute to the company and to society in general.

There is speculation that colleges and universities may allow retirees to earn fast track degrees, taking into account their prior education and work experience. Also some states are already loosening license requirements for teachers to allow those with degrees in fields other than education to become teachers with little if any further training.

Another way to continue to earn in retirement is by making wise investment choices now.

Buy rental properties, learn how to manage money effectively or start your own business now in your part time so that you have something up and running by the time you retire.

The internet has opened up new ways to earn, be it drop shipping, affiliate marketing or selling goods on Bay.

If you always wanted to be an author or if you can write software programs, it is simple to self publish and sell electronic goods through services such as Clickbank.

Or you could just do something you’ve always wanted, like baking breading or making shoes. If you’re good at whatever you choose, you should have little trouble finding a clientele.

But if you are depressed because you have to continue to work after 65, don’t. You’ll have a lot of company and you’ll will also be healthier and happier for it.

For more advice on retirement planning and personal finance, visit http://www.credit-yourself.com/financial-planning.html

About the Author:

Chris Cooper a retired attorney, and his wife Aileen, who has a MBA in Finance, provide personal finance and financial planning advice at Credit Yourself