While it is becoming increasingly popular to retire early or achieve financial freedom before 65, there are quite a few reasons why you should never retire.
People are Living Longer
It is projected that in 2050, over 20% of the population will be 65 years or older. That's up from 12% in 2000. With more people living longer, there comes more time to enjoy life and work if you choose to. 65 doesn't automatically mean you have to give up your job.
In fact, 65 doesn't mean a decline in health or physical capabilities, so if you want to work, you shouldn't let age hold you back.
You should never retire just because of the stigma around age. In fact, adults are expected to live to at least 84 years once they make it to their 65th birthday. That's almost an extra 20 years. Can you imagine being retired for 20 years?
No Retirement Security
It is well known that saving for retirement is important. However, many baby boomers, Gen X'ers, and Millennials still aren't saving and investing. This leads to a lower amount in savings, and a lower amount of money that can be used once a person has retired.
You should never retire if you feel you can't make ends meet. Even if you can afford your lifestyle, money is never guaranteed. Having a job, even if part-time, or a side hustle can offer you more flexibility, and money in your pocket. ...continue reading