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Miscalculating Retirement Needs

One reason for needing to earn money after retirement is miscalculating the financial needs in retirement. It is easy to do. We tend to worry about it later.

The days of companies taking care of their workers in retirement is pretty well gone. You are on your own. Most of us work during our working years, try to save, load up our tax free savings plans and so forth. Then you get to be 65. And you sit down and look at the whole scenario. A million in equity…  cool.

But turning that million into a meaningful living is not so easy with today’s low interest rates. Then comes the stuff you want to do in retirement that you didn’t think of before. Like your kids are all over the globe. Who thought of that 30 years ago when you calculated your retirement needs?

So here you are, like many of us – needing more money. Not to live day-to-day, but to do the things you want to do but never thought you wanted to. So we look for ways to earn extra money.

Over on my new Facebook page I see several comments from people saying exactly that. “If we didn’t work – we would never be able to visit the kids 4,000 miles away”.

 

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