Why It May Not Be Possible To Work In Retirement

May 31, 2012 12:00 AM
Why It May Not Be Possible To Work In Retirement
" BOSTON (CBS) – According to a survey done by Merrill Lynch over 75% of Boomers plan to work in retirement.

You may want to work forever but that may not be possible for a variety of reasons. The reality is almost half of those aged 60-64 are working, only 20% of the 65-69 age group and only 5% of those over 70.

While Boomers intend to keep working and earning in retirement, according to a recent survey, on average they expect to “retire” from their current job/career at around 64 and then launch into an entirely new job or career. But most employers are not ready or willing to accommodate older workers. And the idea of starting something new is a great one but not something everyone can execute.

As we age we become more frail. Indeed there are workers out there who are still going to work at age 75 but they are the exception rather than the norm. Working until you are 75 should not be your retirement plan. There are too many variables as we age.

You could get downsized in your 50s and never financially recover "

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