Retiring Minds Ought to Know - Think your working life is almost over? Think again.

[BridgeTheGap]

(This is what is necessary to maintain the standard of living of that top 2 %, right?)

If you’re over 60 years old and reading this post, it’s probably too late. Good for you if you’re under 30. You’ve got a better chance if you’re younger.

Age discrimination? No. The end of retirement as we know it—an emerging unpleasant reality that will reshape the quality of life and standard of living for billions. Start dealing with it. Now.

If you are a knowledge worker, you will not be retiring at 65. Period. Even if you are in a protected public union with cosseted pension funds, you are at extraordinary risk. Just ask the Greeks, the Californians, or the Japanese. This is a global phenomenon. Demographics and structural deficits don’t lie. Unless the global economy comes roaring back in ways that stimulate sustainable growth, even the most talented professionals can expect to work for at least an additional five years.

Of course, with stimulating careers, good health, and longer life spans, this isn’t necessarily a bad thing. But it is surely not what most midcareer professionals have planned. (Indeed, there’s no shortage of optimists who still expect to enjoy the fruits of early retirement.) Forget the “saving for retirement” shibboleths. Strategically addressing those 60 (or more) additional months on the job may be your most significant long-range planning investment.

Read more: http://www.utne.com/Politics/Retiring-Minds-Ought-to-Know-Retirement-Age.aspx#ixzz17XFQm2sB

[BrklynLiberal]

1. Great article Utne is always..always has been, a great source.

[elocs]

2. My working life is almost over and I don't have to think again.

No, I will not retire at 65, but at 62. But then it is just me and my needs are exceedingly small and my requirements very little. I am looking forward to it.

[awoke_in_2003]

4. I hope you enjoy it...

even though I know I will never get to. My big "dream" was to have my house paid for (that will get done), and enjoy retirement with the library I am slowly building book by book and occasionally travel. Nothing too extravagant. I am 41, and I know social security will be dead (or out of reach, age-wise). I have 401k plans, but those are all tied to wall street- you might get better odds in Vegas. I plan to die on the job. This is not meant as snark toward you, I really hope you get to enjoy retirement. We all deserve that, but it is going the way of the dodo.

[monmouth]

3. It amazes me that the government would like to see workers work

into their late 60s to 70. I enjoy good health and have age-appropriate energy. If I had to get up and go to work five days in a row at the pace that would be expected of me, it would be a no-go. The body, not the mind necessarily, tells you that party is over. I love how those in their 40s think they know how the 60-close to 70 years of age body responds to work, of any sort. Kids...