Retirement

Courtesy Metro Creative

While retirees may need to alter their spending habits, it is possible to live happily on less.

Many people look toward retirement with mixed feelings. 

There is the anticipation and excitement of no longer having to stick to a set schedule. However, there may be some trepidation about living without a steady income.

Bloomberg financial experts found the number of Americans aged 65 and older without a disability that weren’t in the labor force rose to 800,000 in the fourth quarter of 2016. This has become a long-standing trend of baby boomers leaving the workforce and entering retirement. Yet, a Statistics Canada study of people between the ages 60 and 64 who had left long-term employment found 43 percent of them were working again, most within a year of leaving their job. Although boredom may have compelled many of those people to re-enter the workforce, some may have started working again to make ends meet. Researchers found the higher the earnings in one’s late 40s, the more likely a retiree is to go back to work.

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