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 and longer life expectancies, creates a shortfall in the assets needed for retirement.  Times may be good for stocks now, however; if stocks are more expensive and the net return after fees is abysmal, it is time to go shopping for new products to meet your financial needs.  Kojola and Moen, (2016) discuss how the standard programs for retirement are changing to coincide with economic, social, demographics and the overall changing global worldview.  Our laggard retirement system is no longer relevant because of issues with Social Security, the 401K program, and other government-sponsored retirement plans (Ellis, Munnell, and Eschtruth, 2016).  Individuals who previously relied on work-related pension programs to live off now must survive off of insufficiently funded defined contribution plans and Social Security in their old age. 
It is time to change our investment strategy and consider alternative forms of investments and strategies.  Retirement, as we know it today, will soon give way to the reality of alternative planning principles not yet discovered.  Therefore, an open mind is necessary to adjust to these changes while incorporating new research-based theories which will ensure the survival of retirees through the next generation.  Is 70 the new retirement age?    
As always, let me know if I can help
Gerald House
References
Blanchett, D., Finke, M., & Pfau, W. (2017). Planning for a more expensive retirement. Journal of Financial Planning, 30, 42-51. Retrieved from https://www.onefpa.org/journal/Pages/default.aspx
Ellis, C., Munnell, A., & Eschtruth, A. (2016). Falling short: The roots of the coming U.S. retirement crisis. Challenge, 59, 126-147. doi:10.1080/05775132.2015.1138061
Kojola, E., & Moen, P. (2016). No more lock-step retirement: Boomers shifting meanings of work and retirement. Journal of Aging Studies, 36, 59-70. doi:10.1016/j.jaging.2015.12.003



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