It’s either because you need medical and employee benefits or just the cash to get by. That’s the top reasons in a survey by Sun Life Financial, which just started tracking why people work in retirement. A full 83 percent of those between 30 and 66 surveyed said they will work at least 20 hours a week after age 67.
To me, this says people are not preparing for a financially secure retirement. They are not saving enough, instead spending too much now. They may end up surprised when they get to retirement and find out their employer has cut benefits, which many are doing to stay in business. You cannot count on someone else for your financial well-being. You are your own CEO, manage well or ask for help from an advisor.
