Retiring in your 60s is becoming an impossible goal. Is 75 the new 65?

Submitted by pmassetti on
Body (08.04.2024) People are living longer, and daily life is getting more expensive. It may be time to rethink the timeline for leaving the workforce. Handing in your proverbial badge as a sexagenarian has been the goal for many workers around the world: turning 65 would open a golden portal to retirement. Yet increasingly, the idea of stepping away from the workforce in your 60s doesn't seem realistic – or even sensible – for many people, especially now. Some major financial figureheads agree. In March, investment-management firm BlackRock released its annual letter to the company's investors. Its CEO Larry Fink sounded a warning for workers hoping to retire – comfortably and financially secure – in their 60s. As global life expectancy grows, social safety nets fray and cost of living spikes, Fink warned that retirement at age 65 won't be possible for many, even most, people.

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