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Work until you drop

by Jane Baker 11 August 2010 |

7 comments | Love

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It’s an inescapable fact that most of us will have to work longer to provide for a decent lifestyle in retirement. State Pension Age will rise, and is likely to do so at a faster rate under the coalition, which means we’ll all have to wait before we can claim the Basic State Pension.
But, according to a recent report (PPI’s Submission to the DWP’s State Pension Age Review) from the Pensions Policy Institute, if the proportion of adult life spent working compared with years in retirement is to stay the same as it was in the early eighties, State Pension Age would have to rise to 72 by 2030 based on current estimates of life expectancy. This would represent a very rapid increase over a comparatively short space of time.
Even if I live to reach my 100th birthday, I don’t much relish the prospect of working into my seventies, but unfortunately I can see it happening. Can you?

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Comments (7)

8

Scott_Parker posted
I certainly hope not Jane working into my 70's definitely doesn't appeal to me, I'd prefer to be sitting on a beach in the tropics sipping a sangria and soaking up some rays. I'm not counting on a state pension either I'm actually keen on becoming an investor in shares, I've been doing some research of late and I've decided its time to take the plunge and make some picks. I actually fancy myself as a bit of a gordon gekko without the funds though
Posted on 18 August 2010 | Love 3 loves Report
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retirementinvestor posted
Work till you drop. Are you daft?
Work to save and invest for retirement. Realise that investment income will make me retire earlier than working longer. Invest in inflation busting dividend paying companies which are able to increase their dividends above inflation rate. And keep forwever, preferably in an ISA or SIPP.
All this learned pronto by reading www.early-retirement-investor.com
Posted on 15 November 2010 | Love 1 love Report
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jchipuco posted
I have found a business that you do the work once and you keeping getting paid that's what you need to do then you wont retire broke if you want more info get in tuch
Posted on 11 December 2010 | Love 2 loves Report
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Pippa10 posted
I will only "retire" when I am physically unable to got out of my door, and even then I'll find something to do at home. What's the attraction of having nothing to do all day, every day, all year, for ever? Waiting to die. I've met 90 year olds who still go to work. In B and Q there are some much older people manning the floor. They are open, helpful, charming and informative. What a breath of fresh air. An awful lot of people don't want to be retired at 65 and would rather keep going until they drop. Which is just as well as retiring early will be less of an option.
Posted on 24 January 2011 | Love 2 loves Report
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archibtbm posted
Good reply Pippa10
I've lost count of the repeated conversations with pensioners in pubs I've had..and I mean the same conversations word for word.
This is down to not having the interaction and diverse conversations work provides. I paln to "retire" to a part time job to keep my mind active and not become senile too soon
Posted on 10 February 2011 | Love 0 loves Report
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Rach4622 posted
You are so right Pippa, i actually know people who have have had mental breakdowns shortly after retirement, and ended up in the mental hospital - they juist couldn't cope with it.
Posted on 20 March 2011 | Love 0 loves Report
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Rach4622 posted
This is to Scott Parker - If you've got a few quid to invest, then instead of going into the risky world of shares, how do you fancy investing in me?

I've got this brilliant idea which will be very lucrative (although long hours and hard work). I'm not willing to share the details on here, but everyone I've spoken to reckons I've hit on a real gap in the market.

I wouldn't expect you to do any of the work - just sip sangrias or whatever! I just need an investor, and within six months I can do the job of my dreams and you can retire... what do you reckon?

Please let me know if you want to talk further. Hope to hear from you soon, Rach.
Posted on 20 March 2011 | Love 0 loves Report

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