How Working in Your Golden Years Can Keep You Happy, Healthy, and Wealthy
Challenging traditional Retirement Beliefs
Retirement is a confusing and scary idea to contemplate.
The idea of leaving the workforce and relying on savings can be stressful, even for those who have carefully planned for their golden years. Many people are behind on their retirement savings, and as they approach traditional retirement ages fear what the future hold for them.
The easiest solution is both obvious and possibly a little terrifying; work in retirement.
Most people underestimate the power that working in retirement — even a few hours per week — has on the sustainability of a retirement plan. The longer you work, the less you need to worry about outliving your money.
Every dollar you earn from working in old age is one less dollar you need to withdraw from your savings. Here’s a very messy & oversimplified example to illustrate the idea.
If you want to spend $60,000 every year in retirement and you have an impressive $1,000,000 retirement nest egg, using the 4% rule, you’d only be able to fund $40,000, which puts you at serious risk of outliving your money. Working part-time and earning $30,000 per year — even if only for a few years — dramatically…
