The Unanswered Questions of Age, Retirement & Working Onward

Successful people like to reap the rewards of hard work. For some of us, retirement is actually a scary notion rather than something to look forward to. On one hand, freedom to do whatever you want on your terms. On the other hand, too much freedom sounds like it’s going to get boring very fast.

When you’re used to working and pushing the needle forward—boy, it can be hard to give it up. In this day and age, honestly, it can be hard to quit even if you want to. Retirement can be shakier than ever, and unless you’re prepared to cover your retirement with passive cash flow through investments or other means, you might not be able to retire.

Forbes published an article recently entitled “How to Keep Working Into Your 60s and Beyond”—to some of us, that might sound like a nightmare. We want to be retired by beyond, not working.

But what if there’s something to that? When should I actually retire? What benefits do I get from sticking with my job longer, or even switching careers for a second wind later in life?

Are there any?

Let’s Talk Retirement & Aging

When should I retire from my job?

No matter what occupation you happen to be in, or what position you hold at your job, there are a few indicators that it’s time to retire. Even if you’re not going into retirement in the true sense—you might be switching careers—these are are few signs to watch for:

1) You feel consistently unchallenged or resentful of your job.

This is a big one. When we’re younger, this red flag, especially over time, can be a big reason to change jobs, or even careers. Feelings of resentment can stem from a lot of different places: maybe your work isn’t acknowledged or valued in the way you think it should be. Maybe you aren’t treated with fairness. Maybe your work just doesn’t challenge you on a creative or intellectual level.

If you’re finding that your job is a constant slog, and that you’re dreaming of something more, well, maybe it’s time to look for more. Don’t let a fear of change or instability hold you back from a taking a chance at a change for the better.

2) Your health is declining.

Age is a fairly arbitrary indicator of when you should retire. As technology and health care advances, we live longer and healthier lives. If you’re in good health and still feel fit to do your job, why not keep doing it? If you’re suffering from poor health and happen to be near retirement age, however, it might be in your best interests to go ahead and step away.

3) Your spouse has certain ideas about retirement.

If you’re married, you know just how valuable and vital communication is. But retirement plans aren’t always something that comes up in conversation! You might be surprised to find that your partner has different ideas about when is appropriate to retire than you do. It’s important that you get on the same page about your retirement plan with your spouse, especially as you start nearing that age.

4) You are truly satisfied financially.

I mentioned it earlier, but a lot of people today struggle to feel that retirement is even in the cards. Feeling like they have the resources to sustain a comfortable retirement seems less and less feasible for families nowadays, and it’s something worth considering. If you’re not there, maybe you need to keep working—or looking to alternative streams of income to sustain you into retirement.

(Of course, I turn to the opportunities in turnkey real estate investment. You can find out more about that on the Memphis Invest website.)

Should I keep working?

No one can give you the magic number for retirement. It’s such a personal decision. I know that personally, I love to do. I love to achieve. When the day comes that I start thinking about retirement, it might be harder than I think it’s going to be.

Just remember that your work doesn’t have to stay the same. You can change your career and pursue something new and challenging. Start new adventures, blaze new trails, achieve new milestones. You’re not too old for it. Don’t let anyone underestimate you.

I’m Not Even CLOSE to Retiring, So None of This Applies.

That’s where you’re wrong! I get it, none of us like to think about getting older. Why bother thinking about something so far off? But hey. Maybe this is a chance to examine where you are right now. Are you planning for your future? Will you be able to retire when the day comes that you actually want to?

Food for thought:

Don’t let opportunities that will secure your future tomorrow slip through your fingers today.