The urge to retire is not nearly as strong as it once was for thousands of Australians - a trend that must have been given a mighty push by the impact of the global financial crisis on retirement savings.
Since Smart Investing looked at the issue of rethinking the age of retirement earlier this month, the ABS has released its latest labour-participation rates for different age groups.
A close examination of these statistics confirms the astonishing change that Australia has undergone over the past 30 years when it comes to working into older ages.
If you are thinking of working a few more years than initially planned, you are part of a growing movement that the ABS painstakingly documents month after month.
Just think that 30 years ago, 55% of the population aged 55-59 and living in Australia's capital cities were working. Today, more than 72% of this age group is still working.
And 30 years ago, almost 35.3% of those aged 60-64 were working against 51% today.
In the 65-69 age group, less than 9% were in the workforce 30 years ago compared to almost 29% today.
Even a few of those who have passed their 70th birthdays are postponing their retirements a little longer - albeit in extremely small percentages. Just 2.8% of the population over 70 was working 30 years ago against 4% today.
This is one area of life where those with grey hair are the true trendsetters.
25th-July-2009 | 