Many of the elderly in Boston know how hard retirement can be to plan for. But what about if you become sick and need long-term care? With so many elderly staying in the workforce, it may be time to make sure that you are ready for anything.

Many elderly people are heading back to work. According to the U.S. Bureau of Labor Statistics, there are 1.31 million people aged 75 years or older that were working in December of last year. This is 25 percent higher than it was in 2005.

That means that 7.3 percent of some of the oldest Americans have jobs. This is the highest it has been since 1966.

It seems that the recession took a toll on some of these people. One woman is still working at 78 years old because she lost approximately $150,000 from her retirement account during the economic downturn. And senior citizens who want to stabilize their retirement accounts often have to move their money to safer investments, which often means a lower yield. That cycle can mean having to go back to work.

Interestingly, another specialist in the economic field said that one in four people who are working and are over the age of 75 have an average household income that is higher than $100,000.

But while that may seem like a lot of money, a sudden emergency or illness that requires a hospital stay can quickly take a large chunk out of that nest egg. Starting to plan well in advance for health care emergencies can be a good start toward avoiding nursing home care if that is what one wants.

Source: Wall Street Journal, "More Elderly Find They Can't Afford Not to Work," Kelly Greene and Anne Tergesen, Jan. 21, 2012