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Retirement

Biz News published an article that you can read here.

Retire at 55 and live to 80; work till you’re 65 and die at 67. Startling new data shows how work pounds older bodies.

The data for this study is alarming and hits close to home. In order for me to realize 75% of retirement I have to work another 6 years to the age of 63. To realize 100% of retirement I have to work another 10 years or the age of 67.

If it were up to me, and I could afford to, I would have retired in August of 2018 when my last employer eliminated my position and catapulted me back into the job market. Having worked for 10 years for this employer the last thing I anticipated was to be looking for another job.

The older you are the harder it is to find work. You would think that your experience would help you in finding a job but most employers are looking for younger workers that will live longer and work for half the money. Not only that but employers do not want to continue to pay health benefits for aging baby boomers.

Just as the article says, it is important to have made wise financial decisions in your youth and plan for retirement then and not at the end of your career. I wonder how many Americans are sweating the possibility that their social security income will not be there when they get to retirement age? Our government has been using social security as a slush fund for other projects.

The government forced baby boomers to put money into their retirement by making a law that takes the money out of each of your pay checks whether you like it or not. The future is starting to look bleak for a lot of older americans looking to retire in the next decade.

At one point in 2018 a senator mentioned that baby boomers should stop having the entitlement mind set. In other words we should not have an unreasonable expectation to receive those benefits that we have been paying for our entire working life. How do you feel about that dear reader?

 

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