Many retirement blog posts these days talk about the dire situation that America is in regarding retirement. According to a survey conducted by Barron’s:
- 27% of Americans (not retired) have borrowed against their workplace retirement plan
- 27% of have accepted penalties to take money out.
- 30% of millennials say their student loans are preventing them from saving for retirement
- The 45-year-old Gen Xer who wants to retire at 64, has $166,328 saved and needs to save $798,000 more over the next 19 years
- 47% of Boomers are full of regret for not saving sooner
- and so on
In an article we wrote recently, we discussed the emotional aspect of retiring early, and how when it comes time to retire, losing the structure and growth you experience from working can be an uncomfortable thought. One woman realized that when she was ready to retire early, she struggled because a lot of her self-worth was tied to being a worker. So, instead of focusing on the gloom and doom of retirement, today we want to share about some ideas for what you can do during retirement whether you are retiring early or later in life, so as not to lose the fulfilment that work brought.