Effects of Human Capital on the Likelihood of Working in Later Life

Using data from the 2004 Health and Retirement Study (HRS), this study attempted to profile individuals in the work force in later life and examined the effects of human capital and other socioeconomic factors on the likelihood of working in later life among individuals aged 65 or older. The results of the logistic regression analysis indicated that individuals with more education, more work experience, in better health, at young ages, who were male, and who were unmarried were more likely to work in the labor force past the age of 65. This study concluded that human capital factors, such as formal education, work experience, and health had significant impacts on the likelihood of individuals working in later life. Implications and conclusions were drawn based on the findings of the study.