Is 70 the New Retirement Age? While most people still consider age 65 to be the standard retirement age, realistic experiences from the baby-boomers suggest delaying retirement to age 70 is more practical for most people. If you consider the facts related to retirement, delaying retirement until age 70 only makes sense. First, people are living longer and the delay keeps you active longer and ensures you might have enough money to sustain yourself financially for the long haul because you can delay receiving your Social Security income, which will increase the monthly benefit payout by approximately 8% each year you delay receiving it, and you can work longer to build your nest egg. A look at the evidence to support delaying retirement age may convince you. Stock values in 2016 were almost three times more expensive, per dollar business profit, than they were in 1980 (Blanchett, Finke, and Pfau, 2017). The expensive stock value, coupled with a low-interest rate environment an
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Showing posts from November, 2017