http://retirementreform-blog.com/is-working-longer-a-bad-thing/ Social Security, Retirement Planning | NCPA Fri, 27 Aug 2010 16:18:36 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://retirementreform-blog.com/is-working-longer-a-bad-thing/comment-page-1/#comment-301 Michael Sun, 09 Aug 2009 04:49:17 +0000 http://retirementreform-blog.com/?p=117#comment-301 Working longer because they "want to" or "have to"? With TAXES likely to increase, retirees are finding that their "nest egg" is depleting faster than they anticipated, thus causing them to go back to work or getting a reverse mortgage after spending the last 30 years paying it off. I am not a proponent of Reverse Mortgages, but rather not sending extra principle payments to pay off the mortgage faster. Those dollars are better spent saving for retirement, and if they are able to put that money into tax-free accounts, they won't have to worry about the effects of future tax increases. Working longer because they “want to” or “have to”? With TAXES likely to increase, retirees are finding that their “nest egg” is depleting faster than they anticipated, thus causing them to go back to work or getting a reverse mortgage after spending the last 30 years paying it off.
I am not a proponent of Reverse Mortgages, but rather not sending extra principle payments to pay off the mortgage faster. Those dollars are better spent saving for retirement, and if they are able to put that money into tax-free accounts, they won’t have to worry about the effects of future tax increases.

]]> http://retirementreform-blog.com/is-working-longer-a-bad-thing/comment-page-1/#comment-225 John Booke Tue, 21 Apr 2009 22:22:56 +0000 http://retirementreform-blog.com/?p=117#comment-225 I think that when unemployment rises Social Security retirements spike. Look at the year-over-year data. The juicy 5.8% COLA bump for last year will bring the new 62 year olds ("Leading edge of the Baby Boomers") out of the woodwork and into the Social Security retirement fold. The survey is a joke. If you're 20 years away from retirement then you should look for a government job ASAP. Capitalism is a "goner." I think that when unemployment rises Social Security retirements spike. Look at the year-over-year data. The juicy 5.8% COLA bump for last year will bring the new 62 year olds (”Leading edge of the Baby Boomers”) out of the woodwork and into the Social Security retirement fold. The survey is a joke. If you’re 20 years away from retirement then you should look for a government job ASAP. Capitalism is a “goner.”

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