Yes, a lot of people are looking to work at least until 65, but many are planning for 70. This common thought is based a lot on the crash and thinking how they can meaningfully reach what they need.
A lot of people assume they have to keep going forever. Despite the common belief, that isn't true unless you've run some actual tests!
The only way to know what your exact retirement will look like is to plug your information into some of our predictive tools to create a full picture of your plan in its reality.
We walk through a process that uses a software using historical norms over the past 70 years and allows us to change variables and factors in real-time.
- How does retiring at 65 or 67 appear?
- What will working part time look like in retirement?
- How will inflation impact your plan?
Now, time for a little true or false. I recently had a client that was strongly considering working an additional three years before retirement.
So, True or false, does extending your career by a few years strongly benefit your retirement?
Answer: it depends entirely on your situation.
For this specific client, it turned out that working an extra three years made no impact on his savings before retirement. That was incredible for him to consider. Why work until you are 67 if you can retire comfortably at 64? The only way of knowing how your retirement will play out is to make an honest assessment, using tools that give you flexibility and options.