Retired is being twice tired, I’ve thought
First tired of working,
Then tired of not.
-Richard Armour, American poet and author
For many people, retirement is both a life changing and scary time. After 40+ years of devoting long hours in the workforce, entering a new, less hectic period in life is something that is difficult to prepare for. Not only are there questions of how to spend and save nest egg dollars, there is also the question of finding the right time to actually retire.
The current recession is forcing many people to stay in the workforce longer than they initially planned, but when all is said and done, could working longer prove to be both a practical and satisfying decision?
In most cases, the decision to continue working can be a positive one. The ability to generate income is a very valuable asset, plus working offers a desirable sense of relevance and participation, which conventional retirement may not.
According to Social Security Online, the historical average age of retirement was 62. Based on current statistics, the average person can expect to live between 19 and 22 years after they have reached this age. However, with the turbulent market and sluggish economy, millions of Americans are planning to extend their working years long into their late 60’s and early 70’s. Despite current challenges, there are options out there.
Ideally, working should be enjoyable, not just a necessary evil. Companies that help workers succeed and thrive in the workplace, rather than simply escape from it, have become increasingly popular. Cultivating Careers, a company that provides customized career counseling and advice for professionals, is an outstanding example of one such company.
Cultivating Careers founder, Karen Kodzik, has worked with individuals in transition for nearly 15 years, meeting professionals at various points on their career path, and eventually helping them choose the best option for both their personal and professional objectives.
If hiring a career consultant for one-on-one coaching sounds too intense, a workshop might be more accessible. Participating in a 2 Young 2 Retire-MN session with principal coach and facilitator, Linda Miller, is designed to find the best of what's next for each individual and helps participants make deliberate decisions, establish clear goals for their own transition and move forward with purpose and confidence.
As mentioned, the ability to work is one of your greatest assets. It affords you increased financial freedom and offers you the chance to make a difference and stay connected. As long as you have strength and can make a meaningful contribution to the working world, age should not deter you from career success.
Rachel McDonough is a Certified Financial Planner with Raymond James Financial Services, Inc. Member FINRA/SIPC, located at 3820 Cleveland Avenue North, Arden Hills, MN 55112. Rachel McDonough may be contacted at 612 435-7050 or Info@MakeYourMoneyCount.com.
Cultivating Careers, Karen Kodzik, 2 Young 2 Retire, and Linda Miller are not affiliated with Raymond James. Links are being provided for informational purposes only. Raymond James is not affiliated and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.
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