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Do you fear retirement? - Newsweek
Retirement – that dream that we’ve all likely had since we started working! Unfortunately, far too many Americans approach retirement with trepidation, fearing they may not have the money they will need to retire in comfort. A recent study found that over 40% of those over 50 believe they won’t be able to afford the retirement they envisioned, which has caused many to consider continuing to work past their expected retirement date, or seek new career opportunities as a “side hustle” to carry them through their so-called “golden years.”
Saving for retirement has become challenging, what with recent high inflation and higher healthcare costs, at the same time that wages seem to have stagnated. Corporate trends, also, have led to fewer employer-sponsored traditional retirement plans in favor of less reliable 401(k) plans, putting the burden of saving for retirement on individual workers. And student loan debt often means people must forego saving for retirement. Thus, working well into normal retirement age seems a palatable option for many, with over 60% of those surveyed saying they are considering a “side gig” to make their retirement years comfortable. All of this is discussed in this Newsweek article by Aliss Highman. Click here to read more.