This from Herb Greenberg.
It's not uncommon in white collar professions for people to retire very late or never. The other side of the coin is the reality of people having their hand forced to retire early or at least get bumped out of their jobs sooner than they planned. I recently heard from a buddy I worked with at Schwab in the mid-90's. He's exactly my age and is out of work. I'm not sure if he was still at Schwab until his layoff or had been working elsewhere. If he was at Schwab for 25-30 years then he had the opportunity to accumulate a meaningful amount relative to retirement needs, hopefully a sufficient amount but he made it clear he'd like to be working somewhere.
His story is just an example of why it is important for people that are maybe 45-60 or whatever age rage you think is relevant to be prepared in case your hand is forced. Everyone has their own Plan A that might involve retiring young or never at all but life happens and it would be better to have something of a Plan B on shelf if you ever need it.
To the quote, I would replace "you retire, you die" with if you stagnate like leaving your primary career to just sit at home in a recliner watching television you'll probably die sooner. Stagnating, doing nothing is the danger that the doctor is talking about. Having purpose, a place to be with some regular frequency and problems to solve, regardless of whether there is an income involved can overcome "you retire, you die."
The information, analysis and opinions expressed herein reflect our judgment and opinions as of the date of writing and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.
1 comment:
If you retire and die, you were already dead..."walking dead"
Have interests and hobbies outside of work
Have a life outside of work
WTF are people doing that their life revolves around work???
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