All posts from Mitch
Mitch in $ Financial Freedom Chasers,

At what AGE should you expect to BEGIN your retirement?

Ah... 65. The old adage.

We are no longer at a time when 65 is seen as the golden age of retirement for most Americans. For the first time in the 21st century, more and more people are planning to retire after the age of 65, some planning to retire as old as 80. 

I believe there are many reasons that retirement age is being pushed later and later.

The first reason is life expectancy. Medical advances have allowed us all to live longer and longer. No longer are we dying at the age of 70. It is now possible to live past 90 if you eat right, exercise right, and live a stress-free lifestyle (another reason to love your career).

Another reason... I strongly believe has to do with the fact that no one has enough nest egg saved up these days. As much as 50% of Americans retire without anything saved up. What a crisis! No wonder social security payouts are at an all time high.

Of course, many are choosing to work part time in retirement, which is ideal for those who do not have much saved up.

Those with high salaries are the most likely to stick with their jobs. Almost half of those earning $75k and upwards plan to work past retirement age because they actually want to to, compared to about a third of people earning less money. How interesting is it that those earning more money are actually the ones who wants to keep working. Ironic? Not really. Hard working people naturally earn more money, all other factors aside.