Protect your marriage. When to retire, where to live and how to pay for it are often points of conflict for married couples. The majority of married couples ages 46 to 75 disagree about their expected retirement ages (62%) and what their top source of retirement income will be (55%), according to a Richard Day Research survey of 648 married couples commissioned by Fidelity Investments. And even once you both agree to retire, adjusting to a new life in which you are together all day, every day, can be difficult, and new routines must be forged.
Stay involved. In 2001, a Harris Interactive survey commissioned by SunAmerica Financial Group and Age Wave found that many people viewed retirement as a continuance of what life was (40%), and 22% viewed it as a winding down of life. Now, most people (54%) see retirement as an opportunity for a whole new chapter in life.
"People want to travel and learn new things and continue to have adventures," says Ken Dychtwald, the president of the consulting firm Age Wave and author of "With Purpose: Going From Success to Significance in Work and Life." "Retirees don't want to move to a golf course or condominium community, but move to a college town, which is where the action is."
Working in some capacity is often part of the plan. Almost two-thirds (65%) of the survey respondents say they would ideally like to include some work in retirement, ranking the "stimulation and satisfaction" they get from their jobs above money as the top reason they want to work during retirement. "You get so much from work in addition to the paycheck," says Quinn. "It's a lifestyle choice."
Give something back. Many people approaching retirement have knowledge and skills they would like to pass on to the next generation. Some people would also like to leave a legacy for their children or the community that supported them throughout their career. One way to do this is to continue to work or volunteer in some capacity.
Flexible scheduling. When you have some money coming in from other sources such as Social Security, a pension or your savings, you can afford to work less. Many people say they want to work part time (25%) or cycle between periods of work and leisure (36%) in retirement, Harris Interactive found. Only 30% of those surveyed never want to work for pay again, and just 4% want to work full time in retirement.
"When people leave their career jobs, most of them don't leave the labor force at the same time," says Quinn. "They move to some other job that is of shorter duration than their career job, perhaps working three days a week or six months a year, doing something completely different." If you need to put in only 20 hours per week, delaying retirement doesn't sound so bad.
This article was reported by Emily Brandon for U.S. News & World Report.
VIDEO ON MSN MONEY
How typical of essays supporting delaying, or never, retiring, that the accompaning photo is of a guy in a white shirt and tie who probably works indoors, does nothing on his job more physically strenuous than pushing a mouse around a pad. And he usually doesn't have a 30 year old boss ordering him around all day. In the world of news columnists, laying bricks, plumbing, carpentry, etc. is no more physically difficult than mouse-pushing, and a 70 year old can perform that work as easily as a 30 year old.
Some lucky people have jobs they love and never wan't to leave them. If you're not one of them, why would you want to have some repugnant corporate manager type ordering you around for 40-60 hours a week until you're frail? Or telling you that you'll have to work that weekend and "don't write down the overtime!. We will give you some time off later in the month." That sounds like a form of mental illness to me. Maybe they should put this on their tombstones: "I did what people ordered me to do my entire life."
My advice for workers in their 50's and 60's: Get rid of "stuff" so you can live in a smaller, cheaper place. Pay off the house before you turn 55 or sell it. And save all you can so you can escape from our increasingly oppressive and often destructive corporate culture before you're too old to even hike a half mile at a National Park. Retire in one of the many countries that believe healthcare is a basic human right if necessary. Move back (if you even want to) when you're old enough for Medicare.
Completely divest yourself from wallsteet, who just like washington wants you to work and contribute longer all the while stealing from your 401k with the salespitch of (if you don't invest now you'll miss out on the gains)....unless your pile of money is now only 1/4th. I've heard the ole don't put your eggs in 1 basket scenerio...hmmmm, I let them do all the investing and in 2years got less then 3% before this latest crash....1 word scam.
Wonder why mr spread the wealth isn't going after wall street, this isn't about taxing the wealthy, otherwise Obama wouldn't have let 52,000 americans with swiss accounts off of tax evasion scottfree without penalties, interest or their names to be published, the democrats way of taxes is now they want to get rid of the homestead credit another blow to the average worker and tax company employer contributed healthplans, hmmmmm wonder why companies go overseas, oh but wait Obama now wants another job shipping free trade act with south korea.........I swear these morons are out to destroy america, Then you have foreign aid. We borrow money from china pay interest and then give them 200 million a year on internet and mass transit...companies state owned.But, but, but we might interfere with nonworking do-good hippies in the peace corp, too bad! Get a real job and pay taxes.
You hear about all the cuts to americans, but non to foreigners or congressional pay healthcare, or their retirement.
Everyone of these clowns needs to go with the potus at the front of the pack. S & P outright said, if you don't cut spending we're going to downgrade, which is what the teaparty said...and then these bozos with drug induced constituents want to blame the tea party.....they even call on more spending, wanted more spending and a bigger stimulus which does and did nothing for the average joe, just the wealthy and then the potus after the downgrade said "we've always had a AAA credit rating"...................your right...until now. Screw washington and wallstreet..Divest, and hit them in their pocketbook, wait for the next tax holiday (a program designed for and by the wealthy and pull out)
What a joke, I retired at 52 and have not looked back. You spend what you make and adjust naturally. Don't listen to these people that tell you to work till your in the grave. Go out and enjoy life. What are you going to do with an extra $100 bucks at 90
I am 63 years old and would love to still be working my $115K/yr job. Only one problem; the greedy company I worked for (12-yrs) decided to "modify" their home office workforce in late '08, and let me and about 55 others go. Most of us were replaced with people who came on board for much less. This happened even though the company was making big $$ at the time and still is today. They used the economic downturn as an excuse to do this. But I'm not alone. To make things worse, companies (HR) won't give people like me the time of day when I apply for opportunities I'm well qualified for. Why; because they look at people my age and think we're looking for a short-term bridge to retirement; that we'd work on cruise control, and that we couldn't possibly be able to work for the $$ they're willing to pay. Discrimination in the workplace; sadly it's alive and well. What % of the currently unemployed do you think is 50-55+ yrs of age; disproportionately too high is the answer. This is the thanks we get for (in most cases) being the best at what we do; for being loyal, ethical and trustworthy. My advice to younger workers; get all you can get and the hell with companies who say "we love you; we'd love to have you on board". They will stab you in the back and show you the door the moment the opportunity presents itself. U.S. companies;; you deserve this disloyalty for what you've done and continue to do to American workers. Deal with it!
Top Reasons to Retire Now:
1. You don't like working 7AM - 6PM (What happened to 9-5?)
2. You are going to die and it could be sooner than later.
3. The government will up the Social Security Age most likely before you are ready to retire anyway.
4. Any money the government does not jerk around in the stock market, Wall Street will. Take it out no later than 59 and annuitize.
5. You can decrease your spending to match your savings.
6. When you are stricken ill such as my dad with Alzheimers at age 65 you can at least enjoy 5-6 years of retirement.
People who have worked hard for 40-50 years have the right to retire and enjoy a leisurely life in their early 60's. I'm so sick of the financial freaks trying to mentally force the golden people into working longer so they can benefit. Let them be content with what they have and enjoy their sunsets as they see fit.
Get off the wagon, you financial freaks, life used to be good before you entered the picture!
The big problem I see with raising the retirement age in order to collect Social Security is that this means that older people have to work longer, taking jobs from younger people. If the younger people can't get jobs because they are filled by older people.....how are they going to be able to contribute to Social Security so they have it available when they are ready to retire.
As for harping about Baby Boomers....remember, there were many more of us than other generations, which meant that more money went into the Social Security fund and should be available. We have our government to thank for changing the rules and allowing money from the fund to be put into the General Fund to be used for every stupid "pork" project that came along!! Now, they are saying that the fund is going to be broke in a matter of years....hell yes, if they keep using it for their own stupid needs! Our Government needs to keep their hands off this fund, NOT put it into the General Fund to be used willy nilly, and only then will there be enough money for everyone to retire gracefully!!
20 TO 30 YEARS IN RETIREMENT?
HAVE YOU EVER ADDED 30 TO 69?
SO YOU THINK YOUR GONNA JUST GO 99 CAUSE YOU WANT TO!
IF YOU MAKE 80 YOU ARE ONE OF THE LUCKY ONES.
80 LESS 15 YEARS OF RETIREMENT = 65.
LIFE IS A VAPOR AND AT 69 ITS GONE!
How's this for an idea:
The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971...before computers, before e-mail, before cell phones, etc.
8. No pay to Congressmen during government “shutdowns.”
****The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.
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