A growing number of Americans are pushing back the age at which they plan to retire. Or deciding not to retire at all.
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Every day 6,000 Americans turn 65 and a growing number of them are considering pushing back the age fore retirement. In fact 18% of Americans earning more than $1,000,000 a year plan not to retire at all. Here may be some of the advantages to delaying that gold watch.
First, you may continue to enjoy your current life style. Nationally older Americans have incomes that average only 57% or their pre-retirement income.
Second, you might live longer. One study suggested that retiring may contribute to a decline in health and that working longer may help maintain your physical and mental well-being.
Third, retirement may not be as fun as it sounds. When surveyed, 69% of retirees said that life after retirement was about the same or worse as life in the workforce.For many people work isn’t really work, they enjoy it and are actively involved in their businesses. So if you like your job why stop doing it?
As the number of people delaying retirement trends higher, it’s important to ask what’s the right choice for you? The question may have an impact on your financial future.
Let’s talk about it.
Fiduciary & Fee-Only Financial Advisors and Planners
rebel Financial is a Registered Investment Advisor that provides retirement planning, estate planning, financial planning and investment management services to it’s individual and institutional clients.