There are many reasons for a person to retire that go beyond work earnings (just as there are reasons to keep working that go beyond earnings.) See this post in MarketWatch in The Wall Street Journal by Andrea Coombes for more reasons: http://www.marketwatch.com/story/when-to-retire-its-not-just-about-the-money-2014-01-24 Health and finances can always play a role in when to retire, but insurance, wanting to keep active, loving what you do plus a thousand other factors also can tip the balance one way or the other. Try to make the decision yourself if you can; don’t let it be made for you. Even if you have to work elsewhere, don’t let someone talk you into retirement if you still want to work! For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa
Musings of a Los Angeles CPA: In the Old Days, Job Retirement Meant Death or Inability to Work Anymore!
There is definitely a history to the idea that you should work till you drop. Modern retirement wasn’t started until the late 1800s. See this post by Paul Wiseman in the San Jose Mercury News about this history: http://www.mercurynews.com/business/ci_24935309 Just remember, if you do something you love and make money doing it, why would you want to retire anyway (maybe going part-time has an appeal, but stopping work altogether?) If you stop working in your dream job you will get bored doing something else (how much golf and vacations can you really do - all the time?) I will probably be doing this until I am old and gray (another 2 years at least!) For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa
CPA Financial Musings: Delaying IRA contributions can cost you!
So it is January again, and every year at this time, people have finally decided to either save some taxes by contributing to a traditional IRA or making a non-deductible contribution to a Roth IRA (I have to admit that I am in this crowd.) But this is costing you money on your retirement long term because of that friendly little guy called Compounding. Contributing during the previous year can really help this guy do his job. See this posting in MarketWatch from The Wall Street Journal by Jonnelle Marte for more details: http://www.marketwatch.com/story/delaying-ira-contributions-can-cost-you-2014-01-07?siteid=yhoof2 Coming up with the money early may be a strain, but when you start taking the money out, that little guy has some powerful mojo when it comes to growing your retirement income! For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa