By Kevin M
A few weeks ago I did a post on retirement from a different direction. In Preparing for Semi-Retirement I made the case that due to economic conditions, many people would be forced to accept a modified version of retirement, and that such a retirement should be fully anticipated and prepared for. I believe most people will do no better than some form of semi-retirement.
Today I want to take that idea a step farther, and suggest that for many people, non-retirement is more than a remote possibility. And I’m not just referring to people in the lower income ranges either. Economic conditions are changing rapidly, and no one has been more affected than people over 50. No matter how well prepared you might be up to that point, if your economic future is threatened in the last decade and a half of your working years all of your retirement assumptions will be subject to change.
Here’s a critical point: you won’t be exempt from this outcome just because you’re in your 20s or 30s now. One day you will be over 50 and you’ll be facing all of the problems older workers are dealing with now and maybe even a few more.
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