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Retiring at 60 would pose financial challenges for many people in the US. Nearly 20% of 70-year-olds are working now. Source: https://www.bls.gov/emp/tables/ci

Retiring at 60 would pose financial challenges for many people in the US. Nearly 20% of 70-year-olds are working now. Source: https://www.bls.gov/emp/tables/civilian-labor-force-participation-rate.htm https://www.bls.gov/emp/tables/civilian-labor-force-particip.... For many, this is an economic necessity. For well-heeled surgeons, it may be more of a choice -- the desire for extra financial cushion.

whatshisface 7y ago
Making a lot of money does not mean you have a lot of money. There are quite a few people who pull down huge salaries, spend it all, and live paycheck to paycheck.
- Retra 7y ago
  Arguably, it is the best option if you have enough security through insurance; put all your extra cash into some kind of investment.
js8 7y ago
> Retiring at 60 would pose financial challenges for many people in the US. Which is frankly insane too. It's not like the wealthiest nation on Earth couldn't support these people.
- brookside 7y ago
  USA is the 10th wealthiest nation per capita.
- nradov 7y ago
  Have you actually run the numbers? We could support an earlier retirement age but it would require a major reduction in living standards and higher taxes for everyone else. There's nothing insane about opposing that.
  - barking 7y ago
    Too much defence spending perhaps?
  - js8 7y ago
    This is a complicated can of worms... In the past, it was certainly possible to have high living standards economies and relatively low retirement age. I don't think, even if you take longer age into account, that people are such a big spenders that it would be impossible to replicate today. There is a theory that lot of (especially service and high-pay) jobs are actually bullshit, and detract rather than add social value. So if people retire these jobs sooner, living standards might actually increase for everybody.
bluGill 7y ago
Financial is the least of it. There is a spike of people who die right after they retire - they never learned how to fill their free time. Keeping busy and having friends is one of the keys to live a long life. A job provides both of those for you.
- dbmueller 7y ago
  > Keeping busy and having friends is one of the keys to live a long life. source?
  - topkai22 7y ago
    It's pretty well documented and both the popular and academic literature I believe. A quick search at found http://longevity.stanford.edu/social-engagement/ http://longevity.stanford.edu/social-engagement/ to start.

whatshisface 7y ago

Making a lot of money does not mean you have a lot of money. There are quite a few people who pull down huge salaries, spend it all, and live paycheck to paycheck.

Retra 7y ago
Arguably, it is the best option if you have enough security through insurance; put all your extra cash into some kind of investment.

js8 7y ago

> Retiring at 60 would pose financial challenges for many people in the US. Which is frankly insane too. It's not like the wealthiest nation on Earth couldn't support these people.

brookside 7y ago
USA is the 10th wealthiest nation per capita.
nradov 7y ago
Have you actually run the numbers? We could support an earlier retirement age but it would require a major reduction in living standards and higher taxes for everyone else. There's nothing insane about opposing that.
- barking 7y ago
  Too much defence spending perhaps?
- js8 7y ago
  This is a complicated can of worms... In the past, it was certainly possible to have high living standards economies and relatively low retirement age. I don't think, even if you take longer age into account, that people are such a big spenders that it would be impossible to replicate today. There is a theory that lot of (especially service and high-pay) jobs are actually bullshit, and detract rather than add social value. So if people retire these jobs sooner, living standards might actually increase for everybody.

bluGill 7y ago

Financial is the least of it. There is a spike of people who die right after they retire - they never learned how to fill their free time. Keeping busy and having friends is one of the keys to live a long life. A job provides both of those for you.

dbmueller 7y ago
> Keeping busy and having friends is one of the keys to live a long life. source?
- topkai22 7y ago
  It's pretty well documented and both the popular and academic literature I believe. A quick search at found http://longevity.stanford.edu/social-engagement/ http://longevity.stanford.edu/social-engagement/ to start.