Small Business Resource: Don't Equate Retirement With Golf…

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January 9, 2007

Don't Equate Retirement With Golf…

…not if you're short with your self directed IRA targets.

Besides, we suspect retirement is going to be an extinct word in everyday conversation soon. There was pending legislation recently in Ontario, Canada stating that employees 65 and over must not be forced to retire if they don't want to, and can now work past that age. Sign of the times?

Looking at some statistics provided by Robin Ryan in her MSN article, it looks like not many people can truly afford 100%
retirement:

People need 80% of their working salary to be able to afford their retired lifestyle; Business Week discovered in a survey of retired people that 67% of them still want to work provided the job was less stressful and more flexible; A Worth magazine survey of new retirees learned that 41% of them considered retirement very difficult;

Some doctors are telling their patients that if they were once very active and then suddenly retired completely, they could die within six months, so many potential retirees do not want to retire.

Sometimes, the answer "it depends what you enjoy doing" no longer applies to many retirees' question about what they can do once they leave corporate life. It's really more "can you really afford to retire now?".

You can read Robin Ryan's article here:
http://boomers.msn.com/articleCB.aspx?cp-documentid=376674.

Posted by David at January 9, 2007 1:26 PM