“The current economic environment encourages me
to want to stay with my current employer versus 34% encourages me to leave my current employer.”
- Franklin Templeton’s “Voice of the American Worker”
ASK AI
“Why are people delaying their retirements?”
Google Bard AI’s answer:
There are many reasons why people are delaying retirement. Some of the most common reasons include:
Financial reasons. Many people are not able to save enough money for retirement, so they need to work longer to build up their savings.
Health reasons. Some people are in good health and enjoy working, so they don't feel the need to retire. Others may have health problems that make it difficult for them to work, but they still need the income to support themselves.
Personal reasons. Some people simply don't want to retire. They may enjoy their work, they may not be ready to give up their social life, or they may be afraid of boredom or loneliness in retirement.
Economic reasons. The economy has been tough in recent years, and many people have lost their jobs. This has made it difficult for some people to find new jobs, so they have been forced to delay retirement.
In addition to these reasons, the COVID-19 pandemic has also led to an increase in retirement delays. The pandemic has caused financial hardship for many people, and it has also made it difficult for some people to find work.
Whether or not to delay retirement is a personal decision. There are many factors to consider, such as your financial situation, your health, and your personal preferences. If you are considering delaying retirement, it is important to do your research and make a plan that is right for you.
Here are some of the pros and cons of delaying retirement to consider:
Pros:
You will have more time to save for retirement.
You will have more time to enjoy your retirement years.
You will have more time to travel and experience new things.
You may be able to earn a higher salary by working longer.
Cons:
You may not be able to retire as early as you would like.
You may have to work in a job that you no longer enjoy.
You may have to work longer hours or take on more responsibility.
You may not be able to spend as much time with your family and friends.
Ultimately, the decision of whether or not to delay retirement is a personal one. There is no right or wrong answer, and the best decision for you will depend on your individual circumstances.