REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Robert Powell has an article “Separating Fact from Fiction: Ten Retirement Myths and the Facts that Dispel Them” on Marketwatch.com. It's the usual mass-media retirement advice, but I found one item noteworthy:
Myth: Given the trends in retirement income, people will have to work until they drop.
Reality: Working to age 67 -- and not drawing income from Social Security or 401(k)s -- would allow most people to have a secure retirement, says Boston College.
That may be true for half of working Americans. But the other half -- due to some sort of shock -- will not be able to work until they are 67.
Although I’m preaching to the choir, there is a warning here for those who love their jobs and don’t ever want to retire. Better work toward FI even if you don’t plan to RE.
Myth: Given the trends in retirement income, people will have to work until they drop.
Reality: Working to age 67 -- and not drawing income from Social Security or 401(k)s -- would allow most people to have a secure retirement, says Boston College.
That may be true for half of working Americans. But the other half -- due to some sort of shock -- will not be able to work until they are 67.
Although I’m preaching to the choir, there is a warning here for those who love their jobs and don’t ever want to retire. Better work toward FI even if you don’t plan to RE.