WHO WANTS TO WORK FOREVER?

By Craig Erwin, Ph.D.   

Who wants to work forever?  I used to think I wanted to.  I have heard others say they want to work forever.  A friend of mine recently told me that she wanted to (and planned to) work forever.  I have my doubts because she was just hospitalized after a suicide attempt.

It is clear that there is no agreement on the perfect age to retire.  A few people save money extremely aggressively, planning to retire in their 30’s.  And then there are those who live from paycheck to paycheck, never saving a dime for retirement.  It is clear that they plan to work forever.  Actions speak louder than words.  Life makes plans for you if you fail to do your own planning.

In the U.S., after many years of retirement being taken at increasingly younger ages, the trend recently reversed, with workers beginning to retire later. 

Employers are skittish about hiring older workers for several reasons.  First, it is illegal to discriminate based on age.  Second, there is no mandatory retirement age, so workers may linger long after they are no longer productive.  Third, some workers continue to work until around the age of 68 because they want to maximize Social Security benefits.  Fourth, many workers fail to take advantage of employers’ defined contribution plans because they are not mandatory.  They may fail to contribute anything or may contribute far too little and, thus, may be forced to rely only on Social Security in retirement.

It is wise to think carefully about the age at which you wish to retire. 

Click on the following link to learn about alternative approaches to retirement.

https://www.youtube.com/watch?v=ZNOx9_hbvZk

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Next construct and execute a plan that enables you to retire when you want.  Click on the following link to get started. Building Wealth https://womenretire.com/building-wealth-is-harder-for-women-than-men/