Marketing, Motherhood, and Mayhem

Late retirement makes some sense

August 18th, 2010 by Deb McLean

As I’m nearing my 50th birthday, I’m starting to think about what I want to do for the next 50 years.  My plan in my early 30′s was to retire in my early 50′s.  Clearly the stock market has put a kabosh on those plans.  

But I think there’s something to be said to retiring later:

  • If you retire when you’re 66 instead of 62, you increase your retirement income by 35% not including Social Security.
  • Every year after 62 your Social Security Benefits increase by 8%.

But, it’s important to make sure you’re still a valued employee after 62:

  • Learn new techniques: Are your skills on par with the incoming youngsters? Register for classes and special training.
  • Position yourself and ask for Advancement: You don’t want your employer to look at you as a liability, but an asset.
  • Listen: Important at any age, but a good reminder for older employees who may have that “been there, done that” attitude.
  • Be kind to your co-workers: Most everyone at work will be younger than you.  Have good relationships with them and know how to communicate with them.
  • Do something you love to do: Important to consider at any age.
  • STAY HEALTHY: Work out.  Eat right.  Stay healthy.

I hope that I don’t have to keep working until I’m 66, but if I do, there are a lot of worse things to have than a job.

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