Time Is Running Out: Financial Crisis Kept Retirees At Work Till Age 80
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Do you regret retiring??Do you ever feel like time is running out on you? Do you see a time when you'll no longer be able to maintain your own house??
It could happen. "That part of the future is kind of nebulous, you know. Age catches up with everyone even though we don't want to admit it or even think about it."
We can't be, do or have everything we need or want, or everything that excites us if there isn't enough time.?
We get only 168 hours a week in which to do all our living, and so we pay a price in the form of time spent suffering rather than having fun every day we put off handling our money messes to climb the wealth ladder.?
For all the resources available to us every day, time is by far the most limited. Sooner or later, we all run out of time this happens when we reach retirement age or die.?
No matter how young you may be right now, you must never forget that the clock is ticking. How much time do you have left to do all the things you still want to do and win at it??
But if we think of our lives as a project, and if we think of age 65 as our end goal (With each extra year after that age as nothing more than a bonus) Then, we will be able to get some idea of just how limited our time really is.
The number of people age 65-plus working full- or part-time has risen from just under 11 percent in 1985 to nearly 19 percent in 2015.?
According to findings from the Transamerica Center for Retirement Studies' 2016 survey of workers, two-thirds of baby boomer workers plan to work past age 65, including some who don't plan to retire at all. something as highly anticipated as retirement will surely be on your mind for a while before and after you approach this landmark - it's okay if things don't go as planned when it comes to something as big as retirement, sometimes it's best to go with the flow.?
If you expect the following, then you're well prepared.?
If you ever thought reaching 65 is dead, then you are dead yourself.?
Once upon a time, reaching age 65 meant you were done, and it's time to say adios to the office, but things have changed. In fact, everything around us has changed.?
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A large chunk of would-be retirees is continuing to work past their anticipated retirement date for quite several reasons. [Retirement include facing a higher cost of living]?
We often form expectations for our retirement based on the experience of our parents or older relatives and friends. As a result, it's important to keep abreast of trends that might affect retirement for the next few decades. In the coming years, any number of changes could affect the type of retirement you experience. So it would be wise to keep track of these and other related trends and developments ? and plan for possible changes.?
The key is to be ready for retirement no matter what it looks like.?
For instance, at the exact instant when you turn 35, and I'm still in my 20's, and I don't know why I picked this number, but I hope you follow.?
If you're aged 35, you will have precisely 360 months left, or 10 950 days, or 262 800 hours, or 15 768 000 minutes, or 946 080 000 seconds.?
But it doesn't matter which measurement you choose, what matters is what you will choose to do with the time you still have left.?
Remember; 'It matters not where we start but where we finish'?
Further reading:?
https://www.expatica.com/za/finance/retirement/retiring-in-south-africa-1071364/
https://www.marketwatch.com/story/there-are-six-types-of-retirees-which-are-you-11605288035
https://www.wsj.com/articles/retirees-spend-time-money-for-forever-home-sell-it-11636402781
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3 年Intimidation is one simple reason people often procrastinate contributing to their #retirement plans or don’t pick #investments properly.
Author and write the weekly newsletter "The Human In You."
3 年Good #financial health, however, is generally not achieved in a crisis like a #pandemic. It is preferable to have a long-standing and trusted relationship with your #financialadvisors so that when a #crisis strikes, you are suitably financially positioned and emotionally resilient to handle the challenges.