Most
working folks go through the daily grind week after week, counting down the
years to retirement.
But
before you get too excited about walking away from your 9 to 5, consider the
alternative lifestyle that comes with not going to work.
Whether
your working years are winding down or already behind you, many retirees will
tell you the grass is almost always greener. With that in mind, there are two
important ways to prepare yourself for retirement: (1) financially, and (2)
finding something to do once your “spare time” becomes all the time.
When
it comes to the retirement income planning aspect of retirement, we’ve got your
back. In fact, if your post-retirement plans involve travel, an entrepreneurial
venture or another expensive consideration, we may be able to help you there,
too.
[CLICK HERE to read the article, “Rethinking Work,” at The New York
Times, Aug. 28, 2015.]
For
some, retirement may come sooner than expected. If you’re in a good spot
financially, this may not be too detrimental, but keep in mind you lose more
than just income once you stop working. Health insurance goes out the door, and
if you have to begin Social Security early your checks will be
smaller as well.
In
the U.S. today, the average retirement age is about 61 years, but a lot of
people don’t have much choice in the matter. Some people are forced out of
their job and unable to find a new one, while others are forced to retire due
to health issues or caregiving responsibilities. One study revealed that almost
half of workers retire earlier than planned.
[CLICK HERE to read the article, “Is The Risk of Forced Retirement Rising? How
To Enter Retirement On Your Own Terms,” at Forbes, March 5, 2014.]
[CLICK HERE to read the article, “More Than 1 Million Baby Boomers Are Secretly
Unemployed,” at AOL Jobs, May 3, 2013.]
Meanwhile,
there’s one place that has trouble getting its workers to retire: College campuses.
Professors who have tenure can keep working as long as they are able, and since
many are driven by the intellectual questions posed in academia, they can’t
imagine doing anything else.
A
recent survey found that 72 percent of university and college faculty plan
to work beyond age 65. Sixty percent say they’ll work past 70, and 15 percent
of them plan to stay until they’re 80.
[CLICK HERE to read the article, “On Campus, Older Faculty Keep on Keepin’ On,”
at NPR, Oct. 9, 2015.]
Whether
you retire early or late, unexpectedly or on your own terms, everyone wants to
be assured that when their working years are over, they’ll have plenty of
income waiting for them. As your financial professional, that’s what we’re here
for. If you ever have questions about your financial situation, give us a call.
We
are an independent firm helping individuals create retirement strategies using
a variety of insurance products to custom suit their needs and objectives.
The
information contained in this material is provided by third parties and has
been obtained from sources believed to be reliable, but accuracy and
completeness cannot be guaranteed; it is not intended to be used as the sole
basis for financial decisions.
If
you are unable to access any of the news articles and sources through the links
provided in this text, please contact us to request a copy of the desired
reference.
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