facebook twitter youtube google plus linkedin

Planning to Work in Retirement? Why You May Need a Backup Plan

Planning to Work in Retirement? Why You May Need a Backup Plan

According to some research published by the TransAmerica Center for Retirement Studies, a whopping 66% of baby boomers are already or are planning on working past the traditional retirement age of 65.

This actually could be a good thing.

Work could actually be good for your overall health and well being – especially if it’s something that you enjoy.

But boomers beware.

Just because this is what you have planned, it may not actually reflect your reality.

In the following video from Bloomberg Business, they point out that counting on earning income in retirement could be risky.

Of those that reported working in retirement, 75% said that their compensation was much less than before. Add to this potential health issues or workplace conditions out of your control and this could also put your financial expectations in jeopardy.

So, although you may be planning on working in retirement, you may want a back up plan.

Here’s the video;

Other Related Posts;