A time to put off retirement?
As if we needed more evidence of our national economic jitters, 41 percent of adults are postponing major changes in their lives due to financial concerns, according to a survey released the other day by the American Institute of Certified Public Accountants. The moves they’re delaying include such biggies as getting married, buying a home, having kids, and retiring. (That 41 percent is up from 30 percent in a similar survey last year.)
For anyone who’s considering putting off retirement until the economic clouds pass, the Consumer Reports Money Adviser newsletter offered this advice a while back. And the proverbial silver lining is that retiring later actually has some financial advantages, whether in good times or bad.
If you have an opinion on when to retire (early? late? never?), please join the discussion at our online retirement forum. —Greg Daugherty
Greg writes the “Retirement Guy” column each month for the Consumer Reports Money Adviser newsletter.
Posted by: marrbarr | May 26, 2008 9:46:26 PM
I retired at 55 (3 yrs. ago) and so far don't regret it. I only could do so because I sold a house in CA and paid cash in my new state. I have a very small gov't pension that covers the basics, but not a new BMW. There are some clouds I worry about. Number 1 is what Golden Rule laughingly calls health insurance. I might need to return to work to pay for something that actually covers me. Number 2 is just plain inflation. I don't want to cut back, but if need be I will. The joys of an active retirement and the lack of stress make life good.