Next week we will be hosting a webinar titled Accelerate Your Journey to Financial Independence where we expand on recent blog topic that proved to be quite popular (see How To Reduce Your Target Number and Retire Earlier). In the webinar, we'll look at the tremendous value of using supplemental income in retirement to create a shorter path to achieving financial independence.
With baby boomers more healthy and living longer than ever before, these "encore" or second careers are becoming increasingly common. In fact, a 65-year-old can now expect a lifespan of nearly twenty additional years—over five years longer than a 65-year-old in 1950.
These increases in health coupled with the shifts in the U.S. economy to service work and white color jobs and away from manufacturing jobs add up to an attractive opportunity for anyone nearing the traditional retirement age to bring in some supplemental income and, ultimately, get to financial independence earlier. Consider that:
- The 55-and-older crowd is now the only age group with a rising labor-force participation rate, and
- Workers age 50 or older now make up 33.4% of the U.S. labor force, up from 25% in 2002.
Even so, many would-be retirees are skeptical that they can find a good job later in life. We'll address these issues and the stories holding many back in the webinar, but below we've created an infographic of some common myths about working later in life. The infographic is adapted from the excellent article Five Myths About Landing a Good Job Later in Life by Anne Tergesen of the Wall Street Journal. (Click the image to open in a new window)
To hear more about the value of supplemental income in retirement, join us for the free webinar. In addition to covering the financial benefits, we'll address these myths in more detail; we'll feature guest host and ex-Intel employee Andy Robbins now of West Haven Coaching, who will discuss how he made his transition from Intel and the key considerations to address when stepping into a world of uncertainty. Lastly, we’ll also discuss how to generate a “paycheck” from your assets, as for most this supplemental income is helpful but not sufficient to fund their retirement lifestyle.
Register here: Accelerate Your Journey to Financial Independence