OVERCOME YOUR FEAR AND ENJOY RETIREMENT
Kiplinger's Personal Finance|October 2023
Even if you have a well-funded nest egg, giving up a paycheck is hard. We'll help you start the journey.
SANDRA BLOCK
OVERCOME YOUR FEAR AND ENJOY RETIREMENT

WHILE not as terrifying as aerophobia (fear of flying), as common as nomophobia (fear of being without your phone) or as unnerving as coulrophobia (fear of clowns), fear of retirement is a real phenomenon for millions of older Americans.

If you're behind on saving, the fear is probably warranted. But even if you've accumulated a substantial nest egg, the thought of going without a regular paycheck may be scarier than a roomful of circus clowns.

"Although someone may be financially well prepared to retire, emotionally it can be very difficult," says Edward Snyder, a certified financial planner in Carmel, Ind. A recent report from Northwestern Mutual found that Americans, on average, expect to work until age 65, up from 62.6 in 2021. Many are working much longer than that, even if they can afford to retire. About 650,000 Americans in their eighties were working last year, according to an analysis of census data by the Wall Street Journal, up about 18% from a decade ago.

Given the increase in longevity, it's not surprising that Americans are working longer, but the motivation to stay on the job isn't necessarily financial. A survey by Hearts & Wallets, a research firm, found that nearly 20% of respondents between 65 and 74 with investment assets of between $2 million and $5 million were still working. "Whether households are retired or not has very little to do with investable assets," the report said.

The downside to delaying retirement is that you may miss out on some of the best years of this stage of life. "We emphasize that retirement has the Go-Go, Slow-Go and No-Go years, and we don't want to see clients sacrifice their Go-Go years because they are afraid of uncertainty," says Nicholas Gertsema, a certified financial planner in Saint Joseph, Mo. Delaying retirement can also create stress in your marriage if your spouse has stopped working and doesn't want to hike the Camino de Santiago trail alone.

この記事は Kiplinger's Personal Finance の October 2023 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Kiplinger's Personal Finance の October 2023 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

KIPLINGER'S PERSONAL FINANCEのその他の記事すべて表示
FREE HELP FOR COLLEGEBOUND STUDENTS
Kiplinger's Personal Finance

FREE HELP FOR COLLEGEBOUND STUDENTS

This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.

time-read
2 分  |
December 2024
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
Kiplinger's Personal Finance

WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS

You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.

time-read
2 分  |
December 2024
SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS
Kiplinger's Personal Finance

SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS

ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.

time-read
5 分  |
December 2024
Strategies for Novice Investors
Kiplinger's Personal Finance

Strategies for Novice Investors

AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.

time-read
3 分  |
December 2024
ANSWERS TO YOUR 529 PLAN QUESTIONS
Kiplinger's Personal Finance

ANSWERS TO YOUR 529 PLAN QUESTIONS

Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.

time-read
6 分  |
December 2024
Rate-Cut Winners and Losers
Kiplinger's Personal Finance

Rate-Cut Winners and Losers

NOW that the Federal Reserve has cracked the interest rate ice, the next development will be to separate winners from losers.

time-read
2 分  |
December 2024
SHOULD YOU BUY THESE RED-HOT FUNDS?
Kiplinger's Personal Finance

SHOULD YOU BUY THESE RED-HOT FUNDS?

Covered-call ETFs are popular but come with plenty of caveats.

time-read
6 分  |
December 2024
DIVIDEND STOCKS ARE READY TO REBOUND
Kiplinger's Personal Finance

DIVIDEND STOCKS ARE READY TO REBOUND

Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.

time-read
10+ 分  |
December 2024
IS A 55+ COMMUNITY RIGHT FOR YOU?
Kiplinger's Personal Finance

IS A 55+ COMMUNITY RIGHT FOR YOU?

These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.

time-read
8 分  |
December 2024
AT LONG LAST, RATES ARE DROPPING
Kiplinger's Personal Finance

AT LONG LAST, RATES ARE DROPPING

Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.

time-read
4 分  |
December 2024