July 11th, 2014
Traditionally, retirement is viewed as a time of leisure, rest and relaxation. After working for 30 or 40 years, retirees expect to take a load off and do things that they enjoy. Now, though, more and more people are choosing to continue working after retirement. A new study by Merrill Lynch found that 47% of retired respondents either had, were currently or planned to work while retired, and 72% of pre-retirement respondents would like to work after retirement.
Why Is This Happening?
Is this an ominous reflection of the dire economic state that retirees increasingly find themselves in, or is it simply a shift in our cultural understanding of what aging and retirement mean?
On the one hand, 8 in 10 retired respondents reported that they worked primarily because they want to, not because they have to. This points to a shift in our views of retirement. Most retired respondents sought employment to remain social and active, give back to the community or continue their professional development. In other words, working became less about needing money and more about continuing to grow as a person. Whereas the traditional leisure model assumes that retirement is a time for winding down, working retirees today see it as an opportunity to engage with the world in new ways.
July 9th, 2014
It’s no secret that the nature of retirement is changing. In the wake of recent economic turmoil and in the context of concerns about the health of our Social Security system, it wouldn’t be too surprising to find many Americans feeling pessimistic about their retirement plans. The results of a new survey, however, might be cause for some optimism.
January 13th, 2014
Isaac’s resolution is a great one—and definitely one that more people need to make. Did you know that fully one third of Americans admit to having not saved anything at all for retirement? This is shockingly sad, but relatively easy to remedy.
September 13th, 2013
Several Good Reasons to Not Contribute to Your 401(k) "A very common piece of advice that’s given about retirement is that of maxing out a 401K plan at work. More than a few people, including professional financial advisors, will tell you that this is a way to make sure that your retirement is truly golden. While we’re not saying that, for most people, this is an sage advice, it’s not for everyone. The fact is, there is no single universal rule for retirement planning and indeed, everyone has a set of unique circumstances, goals or needs determining what their correct course of action should be. In some cases, putting all of your money into your 401(k) might not be the best idea. In fact, we’ve put together several reasons to not contribute. Enjoy." So Over This
September 19th, 2012
When I got in to work at 8AM, there was a note on my computer: “See me. –Tom.” My first thought was: what did I do wrong now? Tom was the Editor-At-Large for Institutional Investor News, where I was working as a reporter. Editor-At-Large meant that he’d been with the company since the early 1970s and had achieved the status of elder statesman, guiding light, etc., etc. But at the same time, he didn’t really even really work there anymore. He just kept coming in every day and doing the same thing he’d been doing at the company for 30 years—terrorizing reporters.
May 25th, 2011
For most of us, retirement is a long way off (although not as far off as it used to be). Therefore, saving money for retirement may seem like an abstract topic. Many questions arise when contemplating the subject: How much do I need to retire? How soon do I need to start saving for retirement? And the list goes on.
April 4th, 2011
Retirees are struggling these days, even the ones who’ve been saving for retirement all their lives. Low interest rates have them in a bind, and threaten the earning potential of the rest of us looking towards retirement.
September 14th, 2010
Which is the greater evil: inflation or deflation? Well, that depends who you are.
Which one should we expect to see? Depends how it goes.
The economy is full of vague answers and inaccurate predictions... and the new buzzword is "meflation".
September 7th, 2010
When stormy economic conditions are present—like nowadays—more and more people are doing the financial equivalent by cracking open their 401(k) nest eggs, and even more people are wondering whether that’s okay. The short answer is… NO!
April 9th, 2010