Consider these points that they make about Social Security:
- In 1935, when the Social Security Act was passed by Congress and signed by President Roosevelt, the new law established a national retirement age of 65.
- In 1935, the average American lifespan was 61.7.
- The “retirement age” set by Social Security is still 65. However, today the average American lifespan is 78 years and continuing to rise.
- The national “retirement age” of 65 has remained unchanged for 75 years, but the lifespan of the average American has gone up by 16 years.
- This is an easy explanation for why Social Security is seeing financial problems.
- If you’re under 50 or so, you’re probably not going to be able to retire when you’re 65.
- Most people between the ages of 65 and, say, 80 are quite valuable and have a ton to offer in the workplace and in the marketplace.
- Don’t view retirement planning as saving for true retirement. Look at retirement planning as building a backbone for a second career.
- Retirement savings aren’t just for retirement; instead, they create possibilities for a second career or other opportunities later on during my healthy adult life.
So I have to ask you: What does retirement mean to you? Does having a second career when you hit 65 sound like a good idea? When you are 65 do you think that you will feel like you are 45 like the article says? I'd give you my answers but don't want to depress you.