Don't work past age 60

Investing Strategies Retirement Investing
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CFP outlines the additional tax and health costs of working past age 60.

He doesn’t mention it, but if you’re a max-FICA wage earner from your mid to late 20’s, you’ll reach the 2nd bend point of the AIME calculation by age 45 or so. There you’ll get 77% of the maximum monthly Social Security check, while paying about 1/2 the lifetime FICA taxes.

intercst

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Hmmmm…

Not sure I buy all of his reasoning. The social connection, the routine, the sense of purpose/identity, etc… can all be beneficial to mental and physical health for working beyond age 60. The brain challenge can be well worth it as well.

The Stanford Center for Longevity did some interesting academic research on the power of working longer that is also compelling for many of us: The Power of Working Longer - Stanford Center on Longevity

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I don’t know. I’ve been retired for 30+ years. Quit my job as an engineer in the oil & gas industry way back in 1994 at age 38 once I’d accumulated enough capital to live off the 4% rule. I wake up every day and just do whatever happens to 100% interest me at the time. I’m pretty sure the decision has greatly improved my longevity.

Back when I was working, I usually had 5 or 6 things I’d rather be doing than sitting in an office (even if two of them was to “get more sleep” and “watch more TV”.)

I’d have difficulty completing a time sheet to account for the past 30 years, other than to say it’s been completely awesome.

intercst

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These were probably the same people who were telling me I’d be rewarded for working all that uncompensated overtime.

When I did the ROI on that, I found that merely capturing the average 10% return of an index fund, beat wage & salary work by a mile.

intercst

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I agree that it is good for a person to remain engaged in something. Keep the mind busy. But it doesn’t necessarily have to be work. It could be travel (which ticks most of the points mentioned, e.g. social connections, physical/mental, etc). Volunteering for something important to you.

Stress and unhappiness work against physical, and especially mental, health.

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