Is retiring at age 60+ a good plan?

“Retirement is one of the most important life events many of us will ever experience. Realizing a comfortable retirement is an incredibly extensive process that takes sensible planning and years of persistence. We will evaluate your situation and determine the best saving and investing plan for you.” said a financial planner.

He then brought out a stack of beautiful brochures and continued, “Stocks, bonds, mutual funds, employer-based investment accounts and individualized IRAs are some of the best financial tools available that knowledgeable planners like us offer to all our clients.” In the brochure, the colorful graphs and projected numbers seems to be ever increasing over the next few decades. They do look pretty promising…

“Though preparing for the day when you leave your job can be overwhelming, you do not have to do it alone. With the help of a trusted retirement planning consultant like us, you can rest assured that you are making smart decisions for your future.” he added.

You may be at various stages of life, but how do you plan for your retirement? Or do you need a plan at all? Can your financial planner be trusted? What about your family, if you have already started one?

Ever since the first industrial revolution began in the 18th century, everyday we are bombarded by our governments, teachers, parents and the media advising us to work towards our retirement age at 55, then 60, then 65 and now 67 in some countries. “Your company and your pension will take care of you…”, so they say. Why 55? Why 60?

Is our pension plan which heavily relies on stock market performance, and the need to create a long-term financial plan, plus the emotional discipline to stick to it the right way to retire? Does working hard all your life and contributing to the ever increasing taxes really pay off when you reach “retirement age”?

What is your idea on retirement, how and by when do you think is realistic for you?

  • Danielle Winters

    I don’t necessarily want to stop working at age 60 or 65, but I hope I am wealthy enough that I only would work if I want to, not only if I have to.

  • walkaboutdiddy

    I know. It seems that though wanting to retire at 65 much less at age 30, 40, 50, or 60 is a pipe dream for many people. I myself hope to be independently wealthy or at least independently living comfortably before I get too old.