b'Transitioning to Retirement: Many Different PathsFor many people, retirement is anything but a simple one-step move from full-time work to no work at all. HRS tracks all the different decisions people make about work at older ages.UnretirementIncreasingly, people take many different paths to40%retirement. One common path is to retire thenof Americans age 65+ currently employed unretire, that is going from fully retired back to fullreported being retired at some time in the pasttime work. Most people who go back to work after retiring actually planned to do so even before theySource: Maestas and others, RAND, 2017retired for the first time.34Changing JobsPeople at older ages tend to change jobs less often than13%those at younger ages. But some do change jobs and for various reasons. Following workers over time as theyof older workers voluntarily change jobsmoved from their early 50s to age 65, researchers found that those who changed jobs voluntarily at those agesSource: Sanzenbacher and others, Center for were also more likely to be working at age 65.35 Retirement Research at Boston College, 2017Self-employmentFor some older workers, self-employment appears to offer the option to gradually reduce hours and earnings along the path to retirement, what researchers call a bridge job. Compared to wage and salary jobs, self-employment at older ages also seems to be better for the health of some workers. Self-employed workers may have less stress and more flexibility, which may translate to better health.36Job LossNot all late-career job changes are voluntary. For older workers, job loss can have lasting effects on emotional well-being. HRS shows that for those who experience job loss at older ages, volunteering during the period of unemployment can help lessen the emotional impact. Other research with HRS shows that those who volunteer tend to find new jobs faster. It may be that volunteering puts people in contact with others, which not only lifts spirits but also may provide opportunities for new information about job prospects.37,38 16'