I’m sure that because of my age I get more than the average person gets by way of advertisements relating to retirement. In the main the ads want to tell you what to do with your saved money to make your savings last until your demise. All that’s wonderful but they fail to look at what calculations you need to make to determine getting to retirement age. I am well past the age where I have to decide at which age to start taking retirement benefits. The first calculations one must make is one that has no mathematical certainties. What must be done is a realistic assessment of one’s health and family history towards longevity. It hardly makes sense to wait to retire at age 70 if neither of your parents reached age 75, nor either of their parents reached 75! I believe the current life expectancy here in the US Males 73.5 yrs., Females 79.3yrs. Assuming a first job at age 21 that means a work life of 49 years and retirement time is but 3.5 years. Talk about working until you die!
I am not what I sometimes refer to as the financially fortunate. By that, I mean those people who have upon retirement enough money at that they need not change any part of their lifestyle because they have ceased working. For most people they have to revert to early life choices between wanting and needing. I presently have in my family circle two by marriage relatives (both cousins) one will be 93 next month and the other was 110 yrs. of age last week. No one is in shock about the 93-year-old but come on – 110 that seems highly unlikely, it is true. I bring these ages up because as outliers it must be remembered that we must speak in generalities and not specifics or dialogue ceases.
I advise people to start at age 85 which is a good deal older than life expectancy and going backwards as a general rule. The years between 80 and 85 see limitations of motion, hearing difficulties and visual acuity that are not debilitating but very restricting.75 to 80 still able to do all you desire but at a much slower pace. The key years are between 65 and seventy if you chose to work those years you just might be cutting your bucket list time to too few years. Next week how to make retirement wonderful!
JAI BABBA
TTFN
JU
