Why Working Longer Is Not A Retirement Solution
Influential labor economist Teresa Ghilarducci argues that working longer is not the solution to the retirement crisis. She explains why not and what is.
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jimfields33
(17,887 posts)traveling, hanging out with friends or just watching tv. Retirement is what you make of it. Its not not a one size fits all. Some people love to work and will never quit. Their choice.
mahina
(18,595 posts)For social security anyway, if born in 1960.
Cheers
jimfields33
(17,887 posts)available. Im under the 67 retirement too. I may wait to 70 if all goes well. I like the idea of a bigger check even if its later.
PoindexterOglethorpe
(26,105 posts)Medicare starts at age 65. Do the math.
PoindexterOglethorpe
(26,105 posts)If you take it that early, your payout is reduced considerably from what it would be if you started collecting at age 70.
Full Retirement Age. It varies somewhat, depending on what year you were born. But what it means, and what most people do not seem to begin to understand, is that at that age (your Full Retirement Age) you can collect Social Security and continue to work, without any penalty to your SS payout. It's all rather complicated, but it's important to understand exactly how all this works.
doc03
(36,181 posts)I was 62 then retired with 1 week short of 40 years' service. I was fortunate to retire with a
defined benefit pension and have not regretted it for one second. I worked in a steel mill where we
were exposed to every physical hazard and carcinogen known. I had ocular melanoma at 57 and
blood clots in my leg at 58 and 59. I am sure if I didn't retire at 62, I would not be alive today. At 76
I am in better physical condition then I was at 62. In my case taking retirement at 62 was a no brainer.
I feel sorry for the younger blue-collar generation that will not have that opportunity and most will probably
have to work until they are disabled or die.