Family Structure, Employment and Retirement in Later Midlife

Regina M. Bures, University of Florida
Kenzie Latham, University of Florida

During periods of financial uncertainty, family members often turn to each other for economic assistance. One aspect of family obligations that has not been examined in depth is the impact of anticipated financial needs on labor force behavior and retirement timing. This paper seeks to extend our knowledge of the determinants of labor force involvement by examining the influence of both family structure and anticipated financial obligations on labor force involvement and retirement in later midlife. Using data from the Health and Retirement Study (HRS), we examine the relationships between family structure, financial problems and expectations and labor force status in later midlife. Multinomial logistic regression and discrete time hazard models are used to estimate the relationships between family structure, financial expectations and labor force status. The findings of this study are discussed in the context of their implications for balancing family obligations with employment and retirement security.