I’ll Never Retire!

I’ll Never Retire!
26 May 2016

Believe it or not, we hear this more than ever from the people we speak with and the statistics seem to back this up. In 2000, about 11% of Americans worked into retirement. Today, it’s almost 20% and going higher according the the U.S. Bureau of Labor Statistics. Today, the US has the largest number of older workers ever. A 2015 Federal Reserve study found that 12% said they don’t plan to retire at all. Here are a few reasons why this is occurring:
*They need the money: three in five retirees said making money or earning benefits were the main reason (Transamerica Center for Retirement Studies)

*They like their jobs: 36% said they want to “stay involved”. Those with college degrees tend to work later than those without

*Employers want some older workers to stay around

*Older Americans are healthier and living longerWorking Longer

(c) Bloomberg Graphic

It’s also possible older Americans simply get bored with retirement. Whatever the reason you go back to work, make sure it’s because you WANT to, not because you NEED to.

 

Good luck!

Jeff

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Jeffrey Johnston

Jeffrey is originally from Solon, Iowa. He currently resides in Swisher, Iowa with his wife, Prudence, and his three children, Seth, Ian, and Roman. He graduated from the University of Northern Iowa in 1989, where he majored in Finance and Investments. He has 24 years of experience in the investment and estate planning business. He is currently the President of “Premier Investments of Iowa, Inc.” Jeffrey’s main focus is Estate and Investment Planning for Senior Citizens and Pre Retirees. Jeffrey became a Chartered Financial Consultant (ChFC) in 2001. He is the author of many articles on industry related topics and he is a frequent seminar presenter. He is a Board Member TRIAD Linn County Seniors Against Crime, and he is also a past Board Member of the Heritage Area Agency on Aging Task Force. He is a member of CEO Roundtable in Cedar Rapids, a Daybreak Rotary Member, and a member of the Cedar Rapids Estate Planning Council. In March of 2009, Jeffrey became the host of the Premier Investments of Iowa Financial Hour which airs every Tuesday Evening from 6PM -7PM, on WMT 600 AM Radio. In his free time he enjoys golf, fishing, scuba diving, traveling, and coaching son’s basketball teams.