by roger chartier 8-30-2012
Well that says it all…
35% of those nearing retirement age will never be able to retire from working at either a full time job or a part time job + more hours when needed.
Many will be in the same business that they started years ago and never really got going full storm so that they are surviving from week to week on the small income that they get.
The economic situation has gotten to the point where that is how it will be for the future and until something changes economically that is how we will have to face the future.
This info came from a phone survey of more than 1500 adults between ages 45 and 80 years old and was within 5 points of accuracy. About half of that population where still working.
Most folks will at least have to work a few years longer just to get an income from their social-security that they can live on.
Others will have to make a variety of different financial plans to get along.
In my aunties case there was a reverse mortgage arrangement that worked out very well considering that she took the deal in her early eighties having nearly a million in property and very few dollars as income from social-security.
Time for you to consider your future, I don’t care how old you are, think about your retirement and start to plan or use a Roth IRA or some other kind of plan starting now.