Retirement at 65: A thing of the past?

Why it could happen.


Thinking that you'll be able to work past 65 is the first delusion you need to drop.  There is no guarantee that you'll be healthy enough or energetic enough to keep working.  Sure if you get there and want to keep going, do so.  But you should have the option provided by enough savings.  Actually, you might want to have that option at 55 or 60 just in case things don't work out in your favor for whatever reason. 

How to get there.

Save.

Pay off your home and make sure it isn't more than you need or can keep.

Pay off your vehicles.

Find a way to cover your medical costs.  If you're a Veteran you have something in your favor but unfortunately, it's not as good as if you were on Medicaid and an undocumented person.  If you worked for the Government you are probably all set since they have great benefits and early retirements compared to the private sector. 

If you're self-employed then maybe you can just slow down.

The key component is savings above all. 

Nomadic Retirement Income

Digital Nomad - On the Road Methodology

Over 65 - Americans at financial Risk

Americans over 65 face Financial Stress

No kidding here.  It takes a lot to get by and that doesn't count medical care.  On balance it's probably better to go back to the old ways and just live out your years in best way you can without counting on medical help to a great extent.

Retirement: If you rest, you rust?

Rest and Rust

The trick is to stay viable by doing things that keep you mentally and physically active. 

Boomer Generation divided between haves and have nots

Boomers 

Notice the key elements here are a retirement account and a home.  These two things constitute most of the wealth of retirees.  Your best bet is to at least get a home that you can easily afford and put away the rest in some form of retirement investments and savings.

30 Best Cities for Retirement

Midwest Focus

It makes you wonder why.  Is it cost.  Quality of life. Or does it simply reflect the values that the midwest still has representing life before America changed.  Research your future home and decide for yourself.

Annuitize Social Security?

Nobel Laureate's Plan

This article spells it out perfectly.  It probably won't work and will just give more benefits to those that don't need them.