Posted on 09/22/2024 11:21:53 AM PDT by ChicagoConservative27
Many plan to work well into their 60s or even 70s, thinking they can compensate for years of undersaving. But according to recent surveys, retirement may come earlier than expected for many Americans – whether they're ready for it or not.
The average retirement age in the U.S. is about 62 years old, even though most workers expect to retire around 67. In fact, more than 56% of retirees left the workforce earlier than they planned, according to a Transamerica survey. So, what's causing this gap between expectations and reality?
(Excerpt) Read more at benzinga.com ...
When the SS system originally made law, you could retire at 62, but the average life span at that time was 57 years of age. Then came penicillin.
Dad retired at 62, died at 70 years of age. Figuring I would last the same I also retired at 61 and 10 months. I am now 77 years of age and going strong.
God bless
Very similar story here. The key is do your OWN realistic research and planning, don't rely on the "experts". If the retirement experts are so good, why are many still working well past the age you might want to retire?
Full SS for 3 years, until you statistically are supposed to die, doesn't even come close to the amount you will earn for 13 years at a reduced early retirement rate.
Another thing that works is, control your debt and expenses early on, well before retirement. Don't buy more house or car than you need and don't plan on going on a lot of cruises. How many big a$$ed RV rigs and boats do you see parked in your neighborhood 11 1/2 months out of the year? Rent one if you need one.
One final word, use every benefit available to you. For example, the funeral industry tries to sell seniors what they call end of life planning. They want to sell you a pre-planned funeral and burial plot. The VA will inter you and your spouse in a national cemetery if you are honorably discharged. All you have to do is provide the box or ashes.
Enjoy the ride. don't be afraid to take the plunge into retirement.
depends on what the definition of retired is...
Spot on! It’s only boring if you don’t have a life.
Everyone is alive but few people really live! Have a plan and really live.
Retirement is useless. I get waiting a couple of extra years for more of your money (Social Security).
“Work for the federal government and retire at 55 like my Dad.”
That was old school CSRS, which phased into new FERS in the 80s. Don’t know how young you can retire under FERS.
Comedian Bill Engvall felt the same way after retiring.
He said he could not watch any more tv or that his golf game never got better and his wife really enjoys her quiet time when he is not around...
https://www.youtube.com/watch?v=Yx1YrgYuniQ
When the liars at Democrat Yahoo said “experts say it’s better to wait” I did the math - break-even point for me was 80+ years
Now if I was still working my career - I would have waited - but the gubmint made it OK to discriminate against white males over 50, so....I’m outta my career for now.
Makes sense to me.
I hope I can make some money before Democrats Joe Biden and Kamala Harris blow up the world
Pro tip: buy the secret reinforced silo bunker on credit.
I like it - there’s an old Minuteman II silo not that far away from me - I haven’t been by it in a couple of decades though
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