More and more increasingly, Baby Boomers are having to delay their retirement. Their decision affects an important period of their lives.
Gone are the days when people could retire at 60 or 65 even! This is happening for many reasons. Sadly, the reasons for this new and upsetting trend are leaving those who should be in their golden years feeling rather precarious!
Many people who have been working hard for the past 40-50 years and who had plans to retire comfortably are realizing that they cannot afford to leave their jobs. It is reported that one in ten people reaching general retirement age who had anticipated retiring have had to ditch their plans because they simply do not have the money.
Many pensioners who had retired, return immediately to work while others get part-time jobs. They suddenly realize that there is no other way that they will be able to pay their bills.
It is believed that the once commonality of retiring at the age of 60 is increasingly seen as outdated by many younger people who now expect to work into their 70s. This is because it is more and more difficult for young adults to become self sufficient and many have what is being referred to as “delayed adulthood”.
Young adults are finding themselves unable to buy homes or start families until they are in their 30’s. Many of the younger generations are not even settled into a career until they are into their 30’s knowing that it will take them much longer to retire properly.
Current (and perhaps even more so in the future) workers are going to have to work longer and pay more for retirement. This forced delay of retirement is said to be because many individuals recognize that their pensions are actually worth so little.
Many of those who are finding themselves in the situation of having to delay their retirement are urging younger people to find a way to bring in money that doesn’t necessarily mean “working for the man”. They are being encouraged to take matters into their own hands!
For instance, when you work a 9-to-5 for someone else, you find that you’re at the mercy of your boss and the company for which you work. You have very little control and at the end of your pay period, you get a paycheck. However, in today’s economy, working for years doesn’t always mean you will retire with a good a pension.
Entrepreneurship is the new pension plan!
As you watch more and more people delay their retirement after 40 or 50 years of work, it is time for you to make a decision. Are you going to work the same job until you are 70 years old, just so that you can simply get by? Or are you going to take matters into your own hands so that you have control over what you do, where you go, and when you decide to settle down and put your feet up! Because let’s face it, you have better things to do with your time when you’re in your golden years than worry about work or money!
This article was written by SDK Hunter Consulting Group
About The Author:
Sherman Hunter and SDK Hunter Consulting Group staff consultants provide global moneymaking opportunities and proprietary strategies that quickly accelerate business activity. You may familiarize yourself with these unique concepts by visiting the SDK Hunter Consulting Group blog located at: http://sdkhunter.com
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