Tag Archives: retirement

Never Retire?

Retirement stirs up a range of images and emotions. Some can’t wait to punch the clock for the last time. Others dread being shuffled out the door. Some fear they can’t afford to retire. But a new article asks: why do we have to retire at all?

Retirement is, quite frankly, often a default choice that we’ve been brainwashed into accepting. Saying that it’s time to retire becomes less and less relevant with each passing year. Not only are we living longer, but the quality of our lives in older age can also improve. Physically taxing jobs are disappearing. Knowledge jobs can be done quite well by older people.  USNews.com

Says the article:

  • There is no physical reason to retire.
  • Working can support healthy better physical and mental aging.
  • Challenging, meaningful work boosts well being and happiness.
  • A chance to share experiences and mentor younger workers.
  • Bottom line: shorter retirement means less chance of outliving your money.

Demographically speaking, we are getting older, and there will be fewer younger workers to replace us. If you want to stick around, you should have more opportunities to do it. So, if the old bones haven’t given out yet, and you don’t WANT to retire, staying on the job could have a lot of benefits! What do YOU think of non-retirement retirement?  Read the article!

A New Wrinkle in Personal Finance

In our youth-and-beauty-obsessed culture, we don’t even want to THINK about being old, gray and wrinkled. That avoidance has another big consequence: we neglect to plan for our financial futures.

But a researcher has forced his test subjects to imagine themselves in their old age and found:

The more connected we feel to our future selves, the more likely we are to save. In one study, participants looked at digitally-altered (aged) photos of themselves and then answered questions about how they would allocate $1,000 if they were to suddenly receive it. They allocated twice as much to a long-term savings account if they saw an older version of themselves versus just seeing themselves now. USNews.com

Basically, we see our future selves as strangers. But seeing ourselves bald, with wrinkles and liver spots, is apparently a big reality check!

There are apps that allow you to perform this exercise, including AgingBooth.com. But the article also suggests you get in touch with the concept of aging by visiting MeMaw and PapPap, and also asking yourself what the older you would say about the various big-ticket purchases you make – will the old you regret buying a jet-ski versus a municipal bond?

Anyway, it’s pretty interesting. Check it out here!