College grads never retiring

nanotechnology
Thu, 24 Oct 2013 06:16:15 +0000

I plan on going into academia, and it seems to me that there’s a reputation of professors turning eccentric and never wanting to retire. So maybe that’s what my future holds.

With increasing life spans, though, and a shift in the way that retirement pay/savings are handled by employers, there is more reason to work longer. Although retirement ages have increased, I have heard that the number of years of life after retirement has remained about constant. Also, there is more of an onus on employees to do the saving (as that article points out), whereas in the past this was essentially taken care of for them, so people like your dad never had to worry about it. With increasing college debt and decreasing savings, I’m not surprised by this number, but with smart financial decision making from early on, I think it’s possible that we’ll be able to retire before 73 - if we want to.