Retirement age was initially in line with the expected lifespan. Today, if you’re nearing 60, retirement is not an option unless you’ve saved 40% of your income throughout your career, writes Martin Pienaar.
Don’t be too quick to dismiss the idea of career planning
for centenarians. People born in this millennium have a good chance of living
beyond 100 years, making nonsense of the retirement age of 60. When retirement
first became a thing, the retirement age for men was after they were
statistically likely to die. (Women hardly featured.) In that scenario, not a
lot of retirement planning was required.
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