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Latest Stats on working after retirement

USA Today reports today that a survey from the Transamerica Center for Retirement Studies discovered that “82% of the respondents age 60 and older (Americans) either are, or expect to keep working past the age of 65. Among all workers, regardless of age, 20% expect to keep on working as long as possible in their current job or a similar one.”

Only 10% of workers in their 40s said they were confident they would be able to fully retire in comfort. Wow.

What retirement? Maybe the definition should just be changed. With less than 20% of “retirement” folks actually truly retire… at the conventional retirement age of 60-65 – the world is changing. I know people who are absolutely retired. They do have one thing in common, they worked many years in the same career – climbing the corporate ladder. They stuck it out when things were bad at their companies. One person I know almost quit at one point, but told me he stuck it out to keep his retirement plan active. Things picked up and he got projects more interesting and retired at 65 with a full pension from the company and undoubtedly stocks and other investment.

These people I know well are typical “retired” persons in every sense of the word. They live well, travel well, and basically do what they want and enjoy it. They are also healthy, which is a great thing. They have all the toys they would ever want, and keep adding more. Living a live most people can’t even imagine. Very good for them, they deserve it, there is no doubt about that.

They are now a minority amongst us 60+ year olds. As far as I can see, less and less corporations offer the same pension plans, unless you are in the top floors of the head office. That’s a different animal all together.

I also know lots of people that simply cannot see retiring in this manner. No hope in hell, in spite of having worked their butts off for 30-40 years. They will get to 65 with some savings and government pensions. While prices go up.




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