Early Retirement Blog

“Americans are changing the game plan for retirement, with millions laboring right past the traditional retirement age and working into their late 60s and beyond.While the average retirement age remains 63, that standard may soon be going the way of the gold watch — a trend expected to accelerate as baby boomers close in on retirement without sufficient savings.”

How’s that for a Labor Day Gift? According to an article, by AP Business Writer Dave Carpenter, “Laboring longer is a growing trend for Americans”. Twenty-nine percent of people in their late 60s were working in 2006, up from 18 percent in 1985, according to the Bureau of Labor Statistics. Nearly 6 million workers last year were 65 or over.

The article also contains this nugget of wisdom from AARP’s Director of Legislative Policy, who apparently has forgotten, what the “R” in AARP stands for, “We have people who are healthier, who are living longer and have more economic reasons to stay in the work force,” said David Certner, AARP’s legislative policy director. “On the employer side, you have greater demand for experienced (older) workers. That all adds up to longer work lives.”

Uh David, the reward for living longer, is not working longer. And the employers interest in (older) workers, is not an act of benevolence, it’s a demand for cheap labor. An attempt to drive down the wages for all Americans. Apparently, you have also forgotten, what the “A” in AARP stands for as well.

And if the retirement industry had it their way, we would all be working until we’re 70 years old, “To me the ideal would be 70, because you get the biggest Social Security benefit possible and all those additional years of employment. And it keeps you going mentally and physically too.” Says Christine Fahlund, a senior financial planner with T. Rowe Price.

Thanks for your concern Christine, but if I want to stay mentally and physically fit in retirement, I’ll join a gym and do Soduko puzzles. Or perhaps, you think I would enjoy the experience the guys in their 70′s and 80′s, are having over at Lowes Hardware. “After losing their jobs as engineers and scientists, they now stock shelves just to survive. But they hide when fellow retirees come in, she said, because they don’t want people they knew from their country clubs and higher-income jobs to see them.”

This Labor Day, millions of Americans are unnecessarily working into their 60′s, 70′s, and 80′s, when they could be retired. Green Retirement Planning enables almost anyone, to retire with hundreds of thousands of less dollars, and years earlier than Christine, David, or Dave (the writer of the article) realize.

In fact, one of the people mentioned in the article, 64 year old John Lee who, “battled frequent work stress before taking early retirement from Coca-Cola Co. at 55. He lay wide awake for many restless nights thinking about the job, and believes all the strain caused health problems in the form of fibromyalgia and chronic back pain.”

John Lee, who is now back to work full time, because he doesn’t believe he can afford to retire, has $1.3 million in assets and a $3,000 a month pension. If John quit work today, he would have to struggle on an $8,000 a month budget, let’s all cry for John. Seriously, poor John is working, when he doesn’t want to or have to.

America, this Labor Day, in between the beer and the barbeque, let’s take a moment to remember our fellow citizens, who are stressed, scared, and Laboring into old age. Whose fear and anxiety, is preventing them from enjoying, what should be their golden years.

Visit the Green Retirement Planning Website to discover how you, can retire with less savings, and years earlier.