Retirement Planning - Can You Really Afford To Retire?

Posted on December 2, 2007
Filed Under Retirement |

Retirement planning doesn’t mean much to most 20 year olds. Nothing creates urgency like urgency! What happens when the baby boomer generation starts to opt out of the work force en masse in the next few years?

The answer is probably no and this was a real sticky point during the 1990s however, the topic of phased retirement suddenly surfaced and while there is no official reference point you can visit to get the low down on phased retirement, it’s a subject which will gather momentum in the next few years.

In a brand new report released by the The Smart Retiree, phased retirement has been looked at in depth and presents some interesting and startling statistics about retirement.

The simple truth is, a great majority of people just cannot afford to give up their pay check. What is supposed to be a time of celebration for long time workers, the prospect of giving up a large chunk of their income doesn’t cause salivation in the mouth.

Retirement planning wasn’t supposed to be like this. Phased retirement has the potential to solve several possible conundrums. One of those is obviously allowing a retiree to keep working in a reduced capacity and bringing in much needed income.

It also allows those retirees who need to work to maintain strong purpose in their lives the opportunity to so. And more importantly, with the exodus of the baby boomer generation from the work force, a lot of valuable expertise will be lost with their exit and phased retirement allows industry to retain this experience.

Retirement planning is about having a nest egg large enough to sustain one in their retirement years. It’s supposed to cover things such as day-to-day expenses, vacation and hobby interests, not to mention leaving some aside for the kids and grand kids.

Tags: Retirement

Retirement Planning - Can You Really Afford To Retire?

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