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Rethinking Retirement Plans — Is Phased Retirement The Future?

Allwork

A phased retirement option allows full-time employees to work part-time while also beginning to take some retirement benefits. High inflation and an unsteady stock market are forcing many workers to work longer and retire later.

2023 227
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France To Force New Older Retirement Age Without Vote

Allwork

which enables the adoption of a law without a vote, according to Bloomberg. Why it matters: Macron made raising the minimum retirement age from 62 years a cornerstone of his second term, declaring it a necessity in light of the growing deficit due to the energy crisis and Covid-related spending.

2023 196
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The Pandemic Accelerated Boomer Retirements

Small Business Labs

Louis found that the pandemic pushed about 3 million baby boomers to retire earlier than they would have otherwise. As the study chart below shows, the share of retired Americans has surged since the start of the pandemic, and is well above the trend line.

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Why It’s Time to Retire the Term “Hybrid Work”

Allwork

The word “hybrid” gets used a lot relative to workplace strategy, but it may be time to retire the term. . The post Why It’s Time to Retire the Term “Hybrid Work” appeared first on Allwork.Space.

2023 345
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When to Retire from Your First Career and How to Plan Your Next Move

Success

Besides being at the top of their respective game at one time or another, all three second-guessed their initial decision to retire. You might not knock on your former company’s doors months after blowing out the candles on your well wishes in retirement cake. Tom Brady. Tina Turner.

2023 278
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New study finds that Gen Z is doing well on retirement savings

Allwork

What’s going on: A recent survey from TransAmerica Center for Retirement Studies revealed that workers aged 18-25 already had a hefty $33,000 stashed away in their retirement accounts, which is a promising sign of intergenerational retirement preparation. “Gen Z is extraordinary.

2023 212
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Facing ‘Un-Retirement’: The Cost Of Living Is Forcing Retirees Back To Work

Allwork

What the survey found was that 69% of retirees who are un-retiring are doing so in order to combat the rising cost of living. . Millions of Americans who retired during the pandemic are returning to the workforce. . At the beginning of the pandemic, people began to retire in droves.

2022 278
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Purpose and a Paycheck and the New Retirement

Small Business Labs

Purpose and a Paycheck is a new book from Chris Farrell, a leading expert on retirement and workforce issues facing people over the age of 50.    The book covers the "new retirement" This is the growing trend towards older workers delaying retirement and continuing to work, either in traditional jobs or by starting their own businesses. These stories include practical advice that anyone considering the new retirement will find useful.

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Top 5 Tips for Small Business Retirement

The Small Business Blog

Small business owners are often in an unusual position because they won’t receive a pension from their employer once they retire. The self-employed have to think more carefully than most about planning for their retirement. This weeks tips column contains our Top 5 Tips for planning your retirement from a small business: 1. Your retirement… Read the full article here: Top 5 Tips for Small Business Retirement on: THE SMALL BUSINESS BLOG.

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Flexible Retirement Could Solve Age Discrimination In The Workplace

Allwork

That’s the true American adage, with the idea of retirement becoming less of a reality for older generations. Now, as older workers struggle to find their place in the modern workforce, many are choosing to reenter retirement or work jobs below their experience level.

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Retirement

Laughing all the Way to Work

I haven't been posting in awhile as I have been considering retiring the blog. I will continue to write a few articles now and then, but have been spending more time on finalizing another book, giving webinars on minute taking and I would like to expand into other speaking opportunities where I feel my expertise can be used.

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In Retirement, Olympic Gold-Medalist Michael Phelps Is a Mental Health Advocate

Success

We want to move forward,” Phelps, who retired from swimming after the 2016 Olympics, tells SUCCESS. “We The post In Retirement, Olympic Gold-Medalist Michael Phelps Is a Mental Health Advocate appeared first on SUCCESS. The American Dream lies to us in all kinds of ways.

2021 290
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More on the Changing Nature of Retirement

Small Business Labs

There's been a recent flurry of articles on retirement, mostly focusing on older people staying in the workforce longer than prior generations. An examples is Harvard Business Review's When No One Retires. Key quote: This societal shift will undoubtedly change work, too: More and more Americans want to work longer — or have to, given that many aren't saving adequately for retirement. A good example is the 2016 article For Boomers, Work is the New Retirement.

2018 169
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The FIRE Movement (Financial Independence, Retire Early) and Independent Work

Small Business Labs

The New York Times article  How to Retire in Your 30s With $1 Million in the Bank nicely covers the " growing movement of young professionals who are intently focused on quitting their jobs forever." " It's called the FIRE movement and the acronym stands for Financial Independence, Retire Early. However, we didn't fully retire. Independent workers retirement self-employment trends

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Half of U.S. Full-Time Employees Plan to Defer Retirement Due to Financial Reasons

Small Business Labs

It shows that 52% of the full-time employees surveyed said they plan to postpone their retirement due to their financial situation. We've long often covered the trend towards delayed retirement ( see our baby boomer section for many articles on this topic ). These are the people who should be the best prepared to retire.    And yet about half believe they're going to need to delay their retirement because they don't have the financial resources not to. 

2019 138
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5 Tips for Better Retirement Planning

Small Business CEO

We all want to make sure that we are fully-prepared for retirement. While it can often seem so far away, retirement can soon come creeping up on you. So how can you plan for your retirement a little better? Finance retirement planning

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Simplify Your Filing System and Retire Your To-File Pile

All Things Admin

When was the last time you made an effort to catch up on your filing? Last month? Last summer? Many times, we struggle with filing because it feels overwhelming, we’re not sure where to begin, or we don’t have an easy system in place. Filing can be inconvenient and time consuming.

Filing 130
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The Myths About Working in Retirement

Small Business Labs

A good study from Merrill Lynch on working in retirement is nicely covered in the Fast Company article The Real Reasons More People are Working in Retirement.   The study covers in detail what they call the 4 Myths of working in retirement. According to the study summary, these are: Myth 1: Retirement means the end of work. Reality: Over seven in 10 pre-retirees say they want to work in retirement. Myth 2: Retirement is a time of decline.

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For Retirement, 80 May be the New 65

Small Business Labs

We've long been forecasting and writing about the growing trend of Americans working past traditional retirement age.    But even we're surprised by a Wells Fargo survey showing that 75% of Americans plan to work in their retirement years - and 25 percent saying they'll need to work until at least age 80 because they will not have enough money to retire comfortably.  Baby Boomers retirement

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Retirement Planning for Habitual Expatriates

Small Business CEO

All individuals need to plan and save for their retirement to ensure a secure and comfortable retirement. However, retirement planning becomes all the more necessary and complicated for habitual expatriates. Legal Management habitual expatriates retirement planning

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Yet More on the Changing Nature of Retirement

Small Business Labs

We've covered the changing nature of retirement so often in our Baby Boomer section we feel like we're feeding a fed horse by covering it again. But it's an important trend and there continues to be a flurry of interesting articles on working in and/or delaying retirement. The article points out we've been treating retirement like a second childhood that is focused on leisure activities.

2018 156
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Consulteering - A New Approach to Retirement

Small Business Labs

Work a Little, Play a Little: A New Retirement Strategy from the New York Times covers the  growing trend towards people working part-time in retirement.   The article focuses on a retired educator who has put together a portfolio of activities to meet his goal of “balancing a life of leisure with a life of purpose.”. Simply put, many older Americans are not financially prepared for retirement and will need to work.

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More Americans Plan to Delay Retirement

Small Business Labs

We've written so often for so long about Americans - and especially baby boomers - delaying retirement that I'm honestly getting tired of the topic. Key quote on their findings from an AP article on the study : Some 82 percent of workers 50 and older say it is at least somewhat likely they will work for pay in retirement. And 47 percent of them now expect to retire later than they previously thought — on average nearly three years beyond their estimate when they were 40. 

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For Many Boomers, Work is the New Retirement

Small Business Labs

Transamerica's Center for Retirement Studies recently released the results from their 17th annual U.S. retirement survey.    As with prior years, it's full of interesting data on the retirement preparations and plans of Americans of all ages.  This group is currently entering retirement age in large numbers (roughly 10,000 turn 65 every day) and the oldest members turn 70 this year.

2016 150
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Steps The Self-Employed Need to Take To Save for Retirement

Small Business CEO

This does not relieve them of the need to think about saving for retirement, but it does give them a foundation. When self-employed, you need to take all your own steps to save for retirement. If you’re not yet saving for retirement, now is the time to start.

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Non-Mortgage Debt and Working in Retirement

Small Business Labs

Manufacturing » July 01, 2010 Non-Mortgage Debt and Working in Retirement The US News article The Number One Obstacle to Retirement points out that non-mortgage debt is a significant problem for many Americans.    According to the article, debt payments are interfering with retirement savings for 63% of Americans. But the point they make - many Americans are not saving enough for retirement - is a good one. 

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Small Business Owners Getting Older and Not Planning to Fully Retire

Small Business Labs

Also interesting is Barlow's findings on small business owner retirement plans. In general, small business owners are not the retiring type. They found average small business owner with plans to retire is planning on retiring at age 67.    But 7 in 10 of those plan to work at least part-time after their "official" retirement. Also, only 68% of small business owners report plans to retire.

2017 165
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Most Feel Classic Retirement No Longer Affordable

Small Business Labs

Transamerica  released their 13th annual retirement survey.  They cover a lot of areas related to retirement and their full report does a nice job with the details.   The quick summary is only 39% of respondents believe they are buiding a big enough nest egg to fund a traditional retirement.   Also, only 19% said they did not plan to work in retirement. Income is now the primary driver for wanting/needing to work in retirement.

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Why You Should Keep Working in Retirement

Small Business Labs

There have been several interesting articles over the past couple of weeks on working in retirement and/or working later in life. The consensus of these are those working full or part-time instead of fully retiring are happier, healthier, more engaged and in better financial shape. Some examples: Next Avenue's 4 Traits of the Happiest Retirees  report all 4 happiness traits are related to working during retirement.

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3 Ways to Improve Retirement Planning

Small Business CEO

One of the many things that can put stress to people is thinking about future and making retirement plans. Younger generations almost never think about retirement planning, although this is serious and important issue to think about. Saving money to spend it in retirement days seems like a thing far away to many people, but truth is that time goes fast and it is wise to make plans about future. Many people avoid retirement planning because it reminds them of getting old.

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Wealthy Planning on Working in Retirement

Small Business Labs

Self-Employment Data » September 30, 2010 Wealthy Planning on Working in Retirement We've written so often about baby boomers and others working past traditional retirement age that I almost didn't bother with this post.        But the CNBC article Working During Retirement May Be The 'New Normal' had a couple of new slants on this topic.

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Tim Berry's Baby Boomer Un-Retirement - Part 2

Small Business Labs

Blog powered by TypePad Member since 01/2005 « The Atlantic Monthly on The End of Men | Main | The Female Economy » June 18, 2010 Tim Berrys Baby Boomer Un-Retirement - Part 2 Several years ago (have I really been blogging that long?) I posted on Tim Berry's un-retirement.    His answer was he was retired.   While Tim may not be the typical baby boomer, he is a great example of our generation's approach to retirement

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Over Half of Baby Boomers Plan to Work Past Traditional Retirement Age

Small Business Labs

Blog powered by TypePad Member since 01/2005 « Time Spent on Social Networks Exploding; Email and IM Fading | Main | The 2 Speed Economy - Big versus Small Business » August 05, 2010 Over Half of Baby Boomers Plan to Work Past Traditional Retirement Age A recent survey by Robert Half survey found that 54% of baby boomer respondents plan on working past tradtional retirement age. 

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5 Simple Steps to Improve Your Retirement Strategy

Small Business CEO

Preparing yourself with a comprehensive retirement plan is more important than ever. Here are some simple things that can help you to make the most of your retirement fund. A key part of a successful retirement strategy is creating an effective income stream from your savings. If your 401(k) only allows you to take out a lump sum, it may be worth transferring the savings to a separate retirement account.… Finance personal finance retirement planning

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Boomer Delayed Retirement Top 10 News Round-Up

Small Business Labs

Lots of news these days on baby boomers delaying retirement. The quick summary is boomers are delaying retirement, changing retirement and choosing not to go gently into retirement.  In addition to destroying nest eggs and forcing delayed retirement, the article says many baby boomers are even going to die younger because of recession induced economic trauma.  Below are our top 10 (actually 11, we added a bonus story) recent stories on the topic.