Used to be a time when you reached the age of 65, you could retire. But
now, with the rising costs of living and the economy, people who once
retired are now working longer. In fact, more than three in five U.S.
workers in their 50s and 60s plan on working past 65. And 47% say they
will continue in the workforce because of financial needs or the need to
retain health benefits, according to a 2011 study from the nonprofit
Transamerica Center for Retirement Studies.
What does the word “retirement” conjure up in your mind? If you’ve been
steadily saving and investing and you haven’t been negatively affected by the recession, then perhaps you envision twenty
years of traveling the world and enjoying a post-work lifestyle. For those who have not saved, thinking of an eventual “retirement” is frightening. The authors of Avoid Retirement and Stay Alive have some advice.