9 to 5 for the rest of your life?
When you're younger, saving your money for retirement doesn't always rank as a high priority. As more years pass, the importance of building that 401K becomes more of a necessity. Not everyone has the luxury of retiring at 65 and this article shows that more and more senior citizens are working way past the typical retirement age. Some by choice and others forced back into the workplace by the recession.
The majority of this article focuses on seniors who are going back to work because they choose to do so. Many people feel that if you are physically able to work, you should and that it's good for both the body and mind. I completely agree that staying active is very important for anyone that's in their "Golden Years." However, I never want to be working past retirement. In fact, working late in life is somewhat of a fear of mine. My plans are to be cruising the Mediterranean, joining a Scrabble club and spoiling grandchildren. Now that I'm in my 30's, I value the importance of wise financial planning. I can't imagine people choosing to return to work just to keep their minds active. I can think of hundreds of activities that would stimulate your mind and would be a lot more enjoyable than working.
Jack Borden is a 101 year-old man living in Weatherford, Texas. He has been an attorney for 70+ years and still works 40 hours a week. His philosophy is, "As long as you are capable, you ought to use what God gave you. He left me here for a reason and with enough mind to do what it is I'm supposed to be doing." He seems like a very hardworking man and even a diligent public servant. Although, one might argue if the service he is providing is comparable to the legal advice someone even half his age provides? Is that an ageist remark or does there come a time when we should appreciate our life's work and then hand the reins over to the next generation?
A survey conducted last month shows that, "38 percent of respondents working past the age of 62 said that they may have to delay retirement even further because of the recession." Personally, I can't imagine anything more depressing than turning 62 and seeing my retirement that I have worked so hard for, slip further and further into the distance. Many people have lost a great deal of their life savings in stock market investments or poor financial planning. This is affecting many families because some seniors, even though they need to continue working for financial reason, may not be able to because of health limitations.
I think this article would be more interesting if it were more diverse in the personal examples they featured. They seemed to focus on the seniors who were returning to work because they were choosing to. There was only one woman in the story that painted a more realistic picture. Lynn Dusenbery, a 62 year old woman that was forced to sell her floral shop in order to pay off looming medical bills. Essentially, she was left with nothing--no life savings and without health insurance. I think her story most accurately reflects the struggles many Americans are dealing with given out current economic condition.
No matter what your views are on money, one thing is undeniable; If you insist on delaying your financial planning there are repercussions for that procrastination. Time doesn't stop for you to prepare yourself. Your best interest truly lies in being prepared for whatever the future may have in store.
The majority of this article focuses on seniors who are going back to work because they choose to do so. Many people feel that if you are physically able to work, you should and that it's good for both the body and mind. I completely agree that staying active is very important for anyone that's in their "Golden Years." However, I never want to be working past retirement. In fact, working late in life is somewhat of a fear of mine. My plans are to be cruising the Mediterranean, joining a Scrabble club and spoiling grandchildren. Now that I'm in my 30's, I value the importance of wise financial planning. I can't imagine people choosing to return to work just to keep their minds active. I can think of hundreds of activities that would stimulate your mind and would be a lot more enjoyable than working.
Jack Borden is a 101 year-old man living in Weatherford, Texas. He has been an attorney for 70+ years and still works 40 hours a week. His philosophy is, "As long as you are capable, you ought to use what God gave you. He left me here for a reason and with enough mind to do what it is I'm supposed to be doing." He seems like a very hardworking man and even a diligent public servant. Although, one might argue if the service he is providing is comparable to the legal advice someone even half his age provides? Is that an ageist remark or does there come a time when we should appreciate our life's work and then hand the reins over to the next generation?
A survey conducted last month shows that, "38 percent of respondents working past the age of 62 said that they may have to delay retirement even further because of the recession." Personally, I can't imagine anything more depressing than turning 62 and seeing my retirement that I have worked so hard for, slip further and further into the distance. Many people have lost a great deal of their life savings in stock market investments or poor financial planning. This is affecting many families because some seniors, even though they need to continue working for financial reason, may not be able to because of health limitations.
I think this article would be more interesting if it were more diverse in the personal examples they featured. They seemed to focus on the seniors who were returning to work because they were choosing to. There was only one woman in the story that painted a more realistic picture. Lynn Dusenbery, a 62 year old woman that was forced to sell her floral shop in order to pay off looming medical bills. Essentially, she was left with nothing--no life savings and without health insurance. I think her story most accurately reflects the struggles many Americans are dealing with given out current economic condition.
No matter what your views are on money, one thing is undeniable; If you insist on delaying your financial planning there are repercussions for that procrastination. Time doesn't stop for you to prepare yourself. Your best interest truly lies in being prepared for whatever the future may have in store.
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