Never Retire -- The New Retirement Strategy

In the past I've posted that I hope to never retire, but instead to downsize into a new career that will provide some income and allow me to achieve some life goals. This has the added benefit of extending the time my retirement savings will last, so it's a good thing all around!

Here's a piece from Market Watch that advocates working forever and never retiring. Their key thoughts:

Work's the key: Work's good for the soul! Frame a new policy to make absolutely certain nobody ever retires. Seriously, make "Work Forever" America's new domestic policy. Forget about pushing all those ineffectual retirement savings plans. Everybody knows they're not working anyway.

"Work Forever?" Sound crazy? Nope, it's already happening! And it's about time America faces reality. Remember the facts: Zero savings rate, and as high as 80% not saving enough. If those trends continue, soon nobody will be able to retire anyway, we'll all be forced to "Work Forever!"

But there is a plus side to a national "Work Forever" policy. First, get every American working, doing what they love, enjoying the moment, living in what motivational gurus call the "Eternal-Now!" Then we all prosper! Remember the great conclusions of the "Millionaire-Next-Door" and "The Millionaire Mind:" They tell us that when someone is doing what they love, they're working at peak efficiency, have the highest productivity, and will make the most money!

I honestly don't know if this article was written as a joke or whether it is trying to be serious. Regardless, working past 65 is a viable strategy -- one that not only makes your retirement savings last longer (or gives you more time to save if you don't have enough) plus keeps you mentally and physically active and challenged, a key to having a longer, better life. Finally, by downshifting into retirement, many people will be able to move from a job they have to do to pay the bills to one that they'll love to do (or at least enjoy more) and get paid to boot!

Comments

[mapgirl]

My parents are over 65 or near it, and they definitely are not 'retired'. When I ask them about it, they just say they'll be bored out of their minds if they stop working. So they have a line of work that will transition them into their Golden Years.

As much as people love golf, you really can't play every single day when you're retired.

[MiserlyBastard]

"Work forever" is not viable. I'm not saying 65 should be the retirement date for everybody, but I am saying that there is a big difference between 65 and 85. At some point, even the most robust, vigorous person will be old, tired, sore, achey, mentally dulled, etc. Working in this condition voluntarily has to be a bummer. Working in this condition out of a sense of necessity is horrible. I personally would like to retire by 45 or 50.

[Laine]

It really is a matter of personal drive. I don't want to be working for someone other than myself past 45. Improving income streams from projects I love is another matter, and I'd also hope to spend a lot of my time in my maturity devoting time to personal causes, community service, teaching etc... A life of complete leisure? Wouldn't happen. But a life of focused work done at my leisure is another matter entirely.

[Andrew]

I agree with a lot of the comments here. Why is the retirement age 65? Why not 30? If parents throughout the world,including our own, knew the power of the rule of 72, where and how to save/invest their money then we all should be retired at 30. Retirement has nothing to do with age but everything to do with money. If all of us had enough money coming in to pay our living expenses and do the things we loved to do, whether they be "work" or leisure then what does it matter if we are 65, 45 or 25?