People in the past has the luxury of leaving the workforce
once they turn 65, splurge money on expensive things, travel around the world,
learn a new hobby and not worrying about their finances. But things have
changed and people nowadays prefer to retire late due to one reason, they don’t
have enough money.
Longevity is one of the reasons why people retire later than
age 65. Since people are living much longer, they become more at risk to
conditions and diseases that might require medical attention or long term
care. A lot of people didn’t anticipate
the inflation rate of healthcare and long term care cost. To make things worse,
only 7% of Americans have purchased long term care insurance coverage.
So how can we have a happy ending to our retirement? We
should invest on our health and stay on our job as long as we can.
Here's the link to the original article: http://www.huffingtonpost.com/ann-brenoff/retirement-age-a-fairy-tale_b_6295136.html
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