By Reid Kanaley, The Philadelphia Inquirer –
Everybody should plan for retirement, but if you are working, there are good reasons not to actually retire if your health allows — at least not yet.
—About 10,000 baby boomers turn 65 every day, according to this post at Bankrate.com, which lists seven “signs” that retirement might not be the best idea for each of them. In addition to financial reasons, the list includes warnings that you shouldn’t retire just because of your age and certainly not if you don’t know what you’ll do with time on your hands. In addition, be careful if you figure you’ll be getting a part-time job in this era of persistent high unemployment. http://bit.ly/Q21AOf
—Retirement doesn’t always improve quality of life, writes Emily Brandon in this article at USNews.com. Chances are good that you’ll find yourself on a strict budget in retirement, Brandon writes, and your life that revolved around work will be gone. Liking your job may be the best reason of all for not leaving it for as long as you can do it well. http://bit.ly/OMt2uV
—Do retiring boomers threaten the economy? Yes, suggests this post at InvestorGuide.com. “The strain of a greater number of retiring and aging citizens on an economic system that is very tenuous in terms of safety-nets could be catastrophic for the working class generations who are coming up behind them and who are going to have to somehow keep the economy propped up on increasingly shaky legs,” it says. http://bit.ly/OgsMdd
—In a video on “Why you should not retire,” career-design coach Marc Miller says that our jobs provide intellectual stimulation, socialization and other ego rewards that could go missing in retirement. http://bit.ly/NGQyh6
—Age-discrimination warnings pepper this article for small business employers titled, “How to dismiss an employee who will not retire.” This is a minefield for companies that are, in most circumstances, legally barred from dismissing workers over 40 for age alone. Reading it could help you understand what you are up against if you decide to stay at the office instead of retiring. http://bit.ly/SIER6k
