Working in Retirement
Is working the secret to a comfortable retirement?
When most people think of retirement, working is often the last thing that comes to mind. However, more and more Americans are staying in the office in their 60s and 70s, which may actually be a good strategy for a more comfortable lifestyle.
Financial expert Charlie Farrell recently wrote on MoneyWatch.com that staying in the workforce for five extra years can end up having huge benefits for retirees.
"Let's assume you're 65 and have $1,000,000 in retirement assets," he writes. "If you could earn 5 percent a year on those funds, your retirement plan would be worth about $1,275,000 at age 70, or about 28 percent more than at age 65."
Additionally, you can add more to your nest egg while you're still earning that paycheck. If you save about $15,000 each year for those five years, Farrell estimates that you will have 36 percent more savings than if you had retired earlier.
Del Webb retirement communities are not only affordable, but recognize that many residents are still working and offers a quiet and intimate setting for employees to come home to after a day at the office. Some, such as Del Webb Stone Creek, have Learning and Business centers that can help you manage finances and work.
You might also find these articles interesting.
The concept of a retirement test drive has become popular over the last several years.
There has been a considerable amount of news lately highlighting the fact that adults may have to wait longer to retire. It can be easy to see this as bad news, especially if you're of the mindset that retiring early is the ultimate goal.
The desire for an active retirement manifests itself in a number of ways. Although some older adults choose to travel and others may head back to school, many boomers are interested in working during retirement.
A fulfilling retirement can take many forms, and for many baby boomers that includes heading back to the classroom or taking on an encore career.