>> Let's be frank. You have a retirement problem. You hoped to retire in your early 60s, maybe your 50s, but you haven't saved enough. Even if you had, well, the stock market crash took care of that. But there is a fix, and a fairly elegant one. To retire well, retire later. Keep working. It takes surprisingly little time in the work force to make up a lot of ground. If instead of retiring at 62, for example, you worked until 66 and kept saving you could increase your retirement income by 35%. Just four years. And not counting social security. Now every year you delay retirement after age 62 you permanently increase your benefit from Uncle Sam by 8%. Only problem is saying you want to work longer doesn't mean you'll get to. Less than 25% of men between the age of 58 and 62 are working with the same employer they had at age 50. In 1983 nearly half of them. Age discrimination, sure. In part. But it's also economics. On average, older workers are less productive and cost more than younger ones. That makes you a natural target for lay offs. So if you plan to say employed until you can really afford not to, start thinking as early as your 40s how you're going stay employable into your 60s. Get the training you need to stay relevant, and if your employer doesn't pay for it, get it on your own. This is your future, not your boss's. Mind your health, too. About a quarter of the workers who don't make it to age 60 are side-lined by poor health. And then make it abundantly clear that you plan to be in the game for a long time to come. Volunteer for new assignments, and let your boss know you want to be considered for promotions. Then reset your focus on a later retirement date and don't look back. In this economy, there are a lot worse things to have than a job.

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    1

    b160allen

    04/08/09 | Report as spam

    RE: How to Retire Well? Retire Later

    As soon as I saw Suze Orman's picture near this video I was weary. What kind of advice is this? Work longer? Why don't we ever give Americans good advice when it comes to this arbitrary concept of retirement and saving for the long haul. My suggestion to living a better life? Create something that is yours that you own and stop gambling with your money by "investing" it in the stock market that you know nothing about. Invest in yourself as you are your #1 asset and learn how to create value in the marketplace. Sure you can work longer but then what? Is that really going to allow you to retire "well"?

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    2

    jenyj89

    06/19/09 | Report as spam

    RE: How to Retire Well? Retire Later

    I agree with b16oallen above...work longer for what? Some of us want to retire early just to save our sanity!!

    I am in a high stress job and the earliest I can retire is in 7.5 years at 56 years old.....my husband and I are planning to work towards that goal. He will still be working and has his military retirement, my only son will be out of school and hopefully self-sufficient and I don't mind taking a full or part-time job but one that is low stress. Something like an assembly line job, or cashier, or waitress or something along those lines. But very low stress!! My current job has burned me out and really stressed me to the point where I hate coming to work.

    So this "work a little longer" mantra, to me is a bunch of garbage. Work for what you need, live for yourself, make a life for yourself and make yourself happy. Your work should not be your life. We need to stop thinking we NEED to be rich and we NEED all these THINGS about us. When I retire all I want is a little more free time to knit and alot less stress....the rest is cake!!!

  •  
    3

    odle

    08/25/09 | Report as spam

    RE: How to Retire Well? Retire Later

    Interesting video..I like it.
    regards,

  •  
    4

    odle

    08/25/09 | Report as spam

    RE: How to Retire Well? Retire Later

    Interesting video...I like it.
    regards,
    stop dreaming start action

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