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Work til you drop
Old 02-22-2012, 06:47 AM   #1
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Work til you drop

Old news around here, but boomers are beginning to realise they can never retire.

"My advice is above all don't retire," he says. "If you like your job at all, hold onto it. Because getting (it) back in in this era is essentially impossible."
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Old 02-22-2012, 08:12 AM   #2
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Glad to have read the article. Once again it makes me think that we should provide a phase-out period for older workers. Allow some part-time work for 5-10 years. This would help older people handle the economics of retirement and open some jobs for younger people. My 2 cents.
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Old 02-23-2012, 10:36 AM   #3
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I read a report today that stated that one third of all job growth in Canada since the recession is due to people 60 and over. People 60 and over represent about 8% of all workers. Seems surprising to me.
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Old 02-23-2012, 11:08 AM   #4
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If you enjoy working, go for it. I specifically planned from age 24 to someday be able to choose whether I wanted to work.....and I'm nearly there now. I probably will work at something, which is why I call it "rehirement", but it will be fewer hours, much lower stress, and not in the current field I'm in (corporate finance).

It will be nice to have the option!
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Old 02-23-2012, 11:29 AM   #5
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Articles like this just make me shake my head. They focus on making more and spending more. That mentality is driving overconsumption, poor health and broad dissatisfaction in the USA. The question should be "How much is enough?".
Unfortuntely, cutting back never lined the pockets of financial analysts, brokers, etc. So it very rarely gets any consideration.
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Old 02-23-2012, 11:33 AM   #6
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I just don't get it. Telling most people to just keep working is like telling a half-dead pack mule, "It's okay. Just keep walking."

I've never understood this kind of "advice."
And if I claim to be a wise man, it surely means that I don't know.
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Old 02-23-2012, 01:08 PM   #7
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I am almost 64 and think every day about when to retire. My job is ok 10 months a year and the benefits are really good. I have about enough saved to retire but giving up the paycheck will limit my spending in retirement.

Yesterday I got diabetes and my health insurance paid 100% of the medicine and I had only a 30 co pay for the office visit. I think it will pay for testing equipment too.
I have 192 hours sick pay so can go to doctors on company time and dietitian classes.

I could quit and get Cobra but that is 800 a month or more. Medicare will start in 14 months if unemployed but having great insurance is better.

I can earn over 70K on this job, have hundreds of hours of vacations and sick leave or quit and live on my life savings and SS. Every year I work gets me an extra 100 a month or more for life. If I quit I have more time to eat so working is probably better for my health.

I might work until I am 65 but maybe 66 or even 67 so I can retire with more money.
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