Good Financial Reads: Planning for Retirement (Part Two)
How to Ditch The Work-Until-You’re-65 Mentality
The idea of retirement is rapidly changing. When you speak to millennials and Gen Xers, they aren’t motivated by retirement. They think of retirement is a “deferred life plan” – why wait until you’re age 65 to start living the life you always dreamed of?
The 9 to 5, work-until-you’re- 65 path is not desirable anymore. Think about it – the amount of pension plans (designed to replace your salary in retirement) have decreased over 70% since 1990, the future of social security is uncertain, and the gig economy allows virtual, flexible work that didn’t exist 20 years ago. As long as your job is not physically demanding, you are able to work longer than ever before.