Top 5 Reasons to Be Inspired and Motivated to Delay Your Retirement

Did you get caught in the 2008 stock market meltdown? I have friends and family who have suffered losses that have been close to almost impossible to recoup. Look around and you will discover countless Americans finding it difficult to regroup after such a devastating loss and now realize that there just may not be enough income for retirement and a result are having, like many, to delay their retirement because the numbers don’t support their planned early to mid 60’s retirement plan.

You may be too young now, but I bet you know someone who is living this very scenario and are now finding that working hard, saving and planning just wasn’t enough. This dose of reality can be devistating if this is you or someone you love but did you know that working longer has a variety of benefits as well? All it takes is making a lifestyle change now and putting a plan in place that will pay dividends moving forward.  With the tips I share below you feel confident that you have full control in navigating the waters ahead while keeping your dreams and lifestyle afloat through the calm or rough seas.

5 Good Reasons to Delay Your Retirement:

More time to save for your future.  The years before you retire can be some of the best years to save because you’ll earn more than you did earlier in your career.  Once children become financially independent, parent’s expenses are less and are in position to increase their retirement savings.

Fewer retirement years to fund your investment If you monitor your health and well being you will live longer and can expect to have 20 or even 30 years in retirement. If you put off retirement there will be fewer years without income from work so you will not have to withdraw money. It is a good idea if you look for a part-time job that you are passionate about in retirement that can allow you to draw down your savings at a slower rate

Delay taxes as long as you can.  Withdrawals from traditional 401(k)s generally become required after age 70½.  For more details visit wikopedia.com @ http://en.wikipedia.org/wiki/401k

Receive Higher Social Security checks. After you apply for Social Security, you will receive a monthly check for the rest of your life.  The size of that check is depends on how much you’ve paid into the system and when you start taking it. The longer you are able to wait, the higher your monthly benefits will be. Your Social Security payments that you are entitled to will increase for each year you delay signing up between ages 62 and 70. If you would like more information here is a guide from AARP that can help you see why most people should wait as long as possible to claim Social Security and some people should claim earlier. Calculate your retirement benefit here.

Health Benefits. Workers are not able to sign up for Medicare until age 65. Finding individual health-insurance coverage that is affordable if you qualify is quite a challenge. It can be extremely difficult for people who lose group coverage that was provided by an employer. Keeping your job or having a part-time job with benefits is the most cost-effective way to find health insurance before age 65.

Addtional thoughts:

• You literally have more money in your pocket. This is because you need less money for current expenses compared to when you were supporting your children or paying off your house.

• No need to work so hard any more. If you can find a part-time job, three days a week or six months a year  doing something completely different you can be happier. If you put in 20 hours per week, delaying retirement doesn’t sound so bad.

• More time for you. Be active, learn and do new things.  Be bold, brave and daring while having fun and enjoying the steps and stages experienced during this phase in life. It will help you feel young and reborn.

• Keep yourself moving and your mind in tip top shape. Commit to work work only a few days a week to stimulate your mind and empowered in doing what your heart is calling you do. If possible, it is ideal that your new vocation be more than the paycheck. It should be something you have longed to do and learn more about. When this is the case money becomes secondary.

• Use your new found freedom to give something back. If you would rather not work at a job then use your wisdom, talent and skills helping others grow and develop into their own full potential. You’ve spent years honing you craft. Perhaps it’s time to leave a life legacy for your children to pass on to the next generation through leading by example. This will pay higher dividend than any money investment.

Hopefully you’re ready to give some thought to the idea of delaying your own retirement. There are so many good reasons to still be in the game. Plan now to work in what you love until you can work no more. It will keep you engaged, young and vibrant. For now, feel free to download a guide to health wellness which was written to help you live a longer life, find balance and live life to the fullest. Be inspired and motivated to delay your retirement. You will find that age is only a number and that your own life will fulfill you like never before.

To discover how to achieve your financial dreams click here

Visit www.BGJourneyToWealth.com for more insights to growing your wealth!

Bonnie Gortler (@optiongirl) is a successful stock market guru who is passionate about teaching others about social media, weight loss and wealth. Over her 30-year corporate career, she has been instrumental in managing multi-million dollar client portfolios within a top rated investment firm. Bonnie is a uniquely multi-talented woman who believes that honesty, loyalty and perseverance are the keys to success. You will constantly find her displaying these beliefs due to her winning spirit and ‘You Can Do It’ attitude. Bonnie is a huge sports fan that has successfully lost over 70 pounds by applying the many lessons learned through her ongoing commitment toward personal growth and development while continually encouraging others to reach their goals & dreams. It is within her latest book project, “Journey to Wealth”, where Bonnie has made it her mission to help everyone learn the steps needed to gain sustainable wealth and personal prosperity. Order your copy of ”Journey to Wealth” today!

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Bonnie S. Gortler

Bonnie Gortler, Consultant, Coach, and Author specializing in Wealth and Well-Being, is a successful stock market expert who has been instrumental in managing multi-million-dollar client portfolios within a top-rated investment firm during her over 35-year corporate career. As the author of “Journey to Wealth,” Bonnie has made it her mission to share the importance of risk management and how to enjoy real financial well-being by applying the technical and mental sides of investing. Bonnie has an M.B.A. and is a certified life coach. It is through her love of coaching, consulting, blogging, and social media that she creates change in the lives of many and inspires people from around the world. Bonnie is fully committed to your personal growth and development as she shares her winning spirit and powerful techniques with you. Visit BonnieGortler.com to gain tips and insights about investing, personal development, and inspiration through her articles on Wealth and Well-Being.
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