Retirement: Later or Never
Retirement doesn’t look like it used to; long gone are the days where seniors had the opportunity to claim Social Security around the age of 65 and put their working days behind them. Today, seniors are working into their 70s, 80s or 90s, because retirement just isn’t what it used to be and here are the factors that contribute to the changes that keep seniors in their careers later in life than ever:
• While the average age to claim Social Security Benefits is 63.9, many need additional income on top of it to be able to afford basic aspects of daily living, like housing and food
• Many seniors would love to retire and just focus on their family and relaxing, but based on the numbers of seniors aged 65 and older which are rising higher than ever before, this isn’t a reality for everyone. The number of older works, aged 80+ has had the most substantial increase at 67% to 500,000 Americans
• With people living longer, money doesn’t go as far as it used to, and as time goes on this might increase even more, keeping more and more seniors in the workforce longer than planned
• Government benefits, which were initially defined in 1940 certainly weren’t designed to support 30 or more years of retirement, which means seniors need a fairly substantial nest egg to make it through
Via: AARP
Image: elements4health.com
Home Care Central Phoenix and Home Care Greater Phoenix provides elder care and senior care in Phoenix. Call us today at 623-583-5868, 602-265-8228 or 480-991-3959.




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