Never retire movement

Wall Street Journal Money Briefing podcast yesterday reports that more and more Americans over 60 say they will never retire.

Some might immediately guess that they simply can’t.  Actually, there is another reason because they enjoy their jobs. Those are the lucky ones. The jobs keep them mentally, socially and physically active. It doesn’t hurt to bring in income so that they don’t have to worry about running out of money in retirement. This is a good answer for declining birth rates that most developed countries plus China are deeply concerned about. The Podcast provides no statistics on how many and what percentage of people over 60 in US are in this scenario. I thought that might be the key. 

At the same time, there was fierce protests in France against the government to raise the retirement age from 62 to 64. It would be very interesting to compare this percentage in US vs. France. Is it a cultural difference? Is the public pension much more generous in France than US? 

On a personal level, there is no right or wrong. It is a matter of fit. Ideally, one wants to maintain mental, physical and financial health in any stage of life. From a society point of view, use technology to give people more freedom to choose the work they enjoy whole protect basic living standards for everyone. This way, the individual view and society view is aligned. What an ideal.

Published by Worthfy

Financial literacy and counselling

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