What is the perfect retirement age, you may wonder? It seems like the most popular answer is 65, which means that your initial goal might be focused on this. However, there are many people that would like to retire sooner. Others may be more comfortable working later in life so that they can save even more money. For a better understanding of what the "perfect" age is, in this respect, here is some advice provided by Robert Jain.
It's been said that 65 is the magic number when it comes to retirement. One of the reasons why this logic persists, according to names along the lines of Bobby Jain, is that people collect Social Security when they reach this age. It's also worth noting that many people feel comfortable leaving the workforce at this time, having saved up ample money in the past. While 65 years old is a target that many aim for, many people set their sights in other directions.
For many people, retirement isn't a possibility. This isn't necessarily because they're incapable of saving money, but instead they don't want to stop working. One of the most unique components of the human condition is the need to feel useful, which full-time work helps with. When you're able to complete tasks for employers, clients, and consumers alike, you feel like you can make a difference. For this reason, it's not far-fetched for someone to work well after their 60s.
It's also worth noting the unique personal responsibilities that people have. A married couple might have started saving up for retirement together, meaning that one won't be further along than the other. If they want to retire sooner, they might be able to do so by contributing to their separate accounts. This is especially true if they live modestly or don't want to start a family. Depending on how much they make, they may be able to retire in their 50s.
Let's go back to the question at hand: what is the perfect retirement age? Simply put, there's no one answer because everyone is different. The "perfect" age, in this instance, would be whenever someone feels comfortable leaving the workforce. It doesn't matter if someone wants to retire earlier and enjoy the fruits of their labor sooner, or retire later so that they can continue to contribute to their workplaces. No one answer can be applied to everyone.
It's been said that 65 is the magic number when it comes to retirement. One of the reasons why this logic persists, according to names along the lines of Bobby Jain, is that people collect Social Security when they reach this age. It's also worth noting that many people feel comfortable leaving the workforce at this time, having saved up ample money in the past. While 65 years old is a target that many aim for, many people set their sights in other directions.
For many people, retirement isn't a possibility. This isn't necessarily because they're incapable of saving money, but instead they don't want to stop working. One of the most unique components of the human condition is the need to feel useful, which full-time work helps with. When you're able to complete tasks for employers, clients, and consumers alike, you feel like you can make a difference. For this reason, it's not far-fetched for someone to work well after their 60s.
It's also worth noting the unique personal responsibilities that people have. A married couple might have started saving up for retirement together, meaning that one won't be further along than the other. If they want to retire sooner, they might be able to do so by contributing to their separate accounts. This is especially true if they live modestly or don't want to start a family. Depending on how much they make, they may be able to retire in their 50s.
Let's go back to the question at hand: what is the perfect retirement age? Simply put, there's no one answer because everyone is different. The "perfect" age, in this instance, would be whenever someone feels comfortable leaving the workforce. It doesn't matter if someone wants to retire earlier and enjoy the fruits of their labor sooner, or retire later so that they can continue to contribute to their workplaces. No one answer can be applied to everyone.
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If you'd like more financial advice, please contact Bob Jain today.. Check here for free reprint license: The Perfect Retirement Age, By Robert Jain.
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