There’s no hard and fast rule about the right time to retire. Some people stop working as early as their 40s. Others work productively through their 80s, thinking of retirement as something other people do. Some people retire the first day they’re eligible, while others leave work unwillingly, taking early retirement packages they can’t refuse. Still others use their retirement income to help finance a new career or venture, such as a business they’ve always dreamed of starting. Many continue to work part time.
Whatever path you plan to take, you need to develop a strategy now to provide for the future. Among the things that are likely to be of primary concern are:
Enough income to
live comfortably
Adequate healthcare
Financial security
for your dependents and heirs
Times change
Retirement wasn’t always the hot
topic it is today. In 1900, men, who made up the majority
of the workforce, had an average life expectancy of 47.
But over a century later, everything’s changed dramatically.
Nearly 2 million people retire every year. According to
the Centers for Disease Control and Prevention, women can
expect to live almost 20 years after reaching age 65,
and men almost 17 years.
There’s no hard and fast rule about the right time to retire. Some people stop working as early as their 40s. Others work productively through their 80s, thinking of retirement as something other people do. Some people retire the first day they’re eligible, while others leave work unwillingly, taking early retirement packages they can’t refuse. Still others use their retirement income to help finance a new career or venture, such as a business they’ve always dreamed of starting. Many continue to work part time.
