Wednesday, December 2, 2009

Retirement: The Scary Truth About What The Future Holds

Posted by Lindsey Connell

When people thought of retirement they used to think of vacationing and living life without a worry about working or making money. Today, this idea of retirement is completely different because of the thought that social security will probably not be around forever, and for the fact that there are more people in the world now, less jobs available than before, and the value of money has decreased. To make up for these changes, many people choose to either work for more years prior to retiring or to work part-time during their planned retirement years. For the average person, the retirement age used to be 65 years old, but today it has increased to 67. This may seem like a small increase to some, but because the number has been consistently at 65 for so long, the sudden jump in age is a concern about not only the present, but about what it can increase to in the future. This is also concerning because it makes you wonder at what age will the increase stop. Will the average retirement age increase to 70? 75? If the retirement age increases more than an increase in the average life expectancy than there will come a point where people will be literally working until the day they die.

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