Maybe this will help push someone over the edge that is thinking about going one more year.
Link: Should you work longer? | Dallas Morning News
Link: Should you work longer? | Dallas Morning News
Like millions of others, he had faced a serious decision: Work a bit longer or retire now?
The conventional wisdom is quite clear on this question.
Forget retiring. Work away; you won’t regret it!
Figuring work beginning at age 16 and retirement at age 53, that totals 37 years. Now entering 27th year of retirement imoldernu's opinion is that OMY ain't worth it.
Long and short, the earlier retirement provides a safety net of being young enough to go back, or to supplement w/part time employment, if there's a problem.
For DW and me, it wasn't necessary. Not a minute of regret.
What struck me is that Burns was surprised his friend wanted to retire at age 62.... even though his friend could collect SS, had no debt, and had savings. Why is it surprising?
Burns obviously loves his work. It can be hard to understand someone who wants to retire for reasons other than ill health.
Burns obviously loves his work. It can be hard to understand someone who wants to retire for reasons other than ill health.
I retired for medical reasons. I was sick of working
I also retired for medical reasons having to do with my vision. I could no longer see my @ss going to work.
Forgetting for a second whether the individual has enough money for one more year, the hourly earning for the one more year is totally wrong as you have to multiply it by the number of years, you cannot take a some of money and only give one years income from it! I hate it when an article makes a point using totally wrong math as the justification. Just the increase in Social Security alone will be worth $21.00 per the hour worked to enjoy for the remainder of their retirement. You addd on the $36,000 (4% of portfolio withdrawal) and 20,000 they saved you get an additional $14.00 per hour, the gains or losses otherwise would have been the same whether they worked or not for a total additional of $35.00 per hour worked not $1.21.