Retirement’s not what it used to be. Or perhaps it never really was. As midlife Americans look toward planning for what they hope will be a second life of leisure with family and friends after decades in the work force, new research suggests that retirement in the traditional sense could actually kill you – or leave you broke, ill and depressed.
For generations ralph lauren pas cher American workers have grown up with the traditional paradigm: put in your years on the job, retire with a nice pension and do all the things that you had to put on hold while working. Advertisements aimed at retirees pitched the notion of perpetual freedom and long days on the golf course or in craft classes.
But a funny thing happened on the way to those sunny golden years. The pensions retirees had counted on after long years on the job were beginning to dry up. Now employees were expected to make contributions to company retirement funds – or create their own retirement accounts. And if none of those safeguards could be had, workers had to save, save, save – working full time to support not just one, but two lives.
Retirement became more and more distant for people who just didn’t have enough money to quit working at 62, or 65. More and more people were staying in their jobs, or if that wasn’t possible, taking another one after a formal retirement from their first career. The stereotype of a happy sixtysomething hitting the greens with friends gave way to another one: the gray-haired counter help at McDonalds. Americans have been running scared ever since, fearful that they’d never be able to retire like Dad, or Granddad did.
But, say researchers in the UK, Europe and the US, that may actually be a good thing. While leaving an unpleasant job is never a bad thing, numerous studies of those who opted for retirement in the traditional sense – not working and having lots of unstructured leisure time – can actually shorten an individual’s life.
Another part of the lore surrounding retirement has been the story, recounted again and again around the country, of a retired company man who had a heart attack and died not two weeks after his last day at work. While it’s tempting to point to that kind of story as a confirmation of the irony in all things, it turns out that there’s a substantial grain of truth in it.
New studies on the effects of retirement on people’s overall health and well being suggest that the abrupt change from a working life to one of unstructured leisure causes stress, triggers depression, destroys marriages and can lead to a variety of health problems including dementia.
What’s more, if a retiree ends up without adequate savings to support what could be a full third of life after retirement, that drop in living standards and the ensuing financial distress can harm health and overall well being too. Being forced to stay in an unpleasant job or take another one just to make ends meet can create stress and depression, which may trigger the onset of cancer an heart disease, among others.
The solution? Work, say researchers in the UK and the US.
The number of people of retirement age who choose ralph lauren france to either keep working or start a new career or enterprise is increasing every year, with more and more people in their sixties, seventies and beyond preferring to forgo the usual lifestyle of retirement. And it turns out that by doing so, they’re adding years to their lives by helping to stave off serious disease, improve their overall satisfaction with life, and stay mentally sharp.
Social engagement, a sense of purpose, and challenges that keep the brain healthy are just some of the benefits to working past retirement age. And while many of these “non=retirees” are choosing to stay involved with their current profession, increasing numbers are seeing those retirement years as the perfect time to start a business or create an enterprise that makes real change in the world.
For a growing number of retirees, that third age career is created from income property investing – owning and managing one or more rent properties for an income stream that doesn’t know any age restrictions. Here’s why:
Investing in income property creates income streams for the long-term. As ralph lauren soldes always says, everybody needs a place to live. And although the US housing market continues to recover after the disastrous crash of 2008, the number of homebuyers is hitting record low levels. That means the demand for rental housing continues to surge, with a growing pool of renters ranging from collegiate to empty nesters and travelers.
Investing the right way uses other people’s money. Although new lending standards have made it somewhat harder to qualify for a mortgage today, interest rates are still running surprisingly low. And a newly retired individual with good credit can get funding ralph lauren femme for up to four individual or multi-family properties in most states before jumping into the commercial real estate class.
Owning and maintaining investment properties challenges the mind, creates new opportunities for social and professio0nal connections, and offers many reasons to stay active. When you’re an investor, you’re an entrepreneur running your own business, one that, if properly managed with the right financial advising, can keep the cash flowing to support that additional third of life.
Investing also presents opportunities for lifelong learning, exploring new places and acquiring new skills. And your investments qualify for some pretty chemise ralph lauren steep tax breaks too, from simple depreciation to major renovations, travel and other deductions. Real estate is one of the most tax-favored investments in the country.
Time was, the question wasn’t whether you should retire, but when. Now, in a very changed cultural and financial landscape, that question is completely reversed – and that may be a good thing. Income property investing bridges the gap between the model of Old Retirement and the new Un-retirement with a way to build wealth, keep working – and enjoy a round or two on the golf course too. ()Top image: Flickr/ElvertBarnes)