2/20/2018


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The Elderly And Retirement

When you are young, retirement seems so far off into the future that it is almost unthinkable that you will ever get there, but, sooner or later, it sneaks up on you. At that time, you will come to realize that retirement and getting old is a truth and that the future is now.

As your retirement date draws closer, time seems to speed up. If you haven't done any planning, saving, or investing, you had better start thinking hard about what retirement really means to you and how you are going to survive once you stop working.

Retirement means that you won't have to get up every morning to go to work. You won't have to punch a time clock. You won't have to put in an eight hour day. It also means that your income will probably be fixed, and more than likely it will be reduced, but you will still have bills to pay.

Studies have shown, and makes it very clear, that many seniors often lack the necessary income to pay for their basic needs and that many retirees, over sixty five, are living well below the national poverty level. They are in dire need of money to pay for health care, rent, food, and transportation costs.

Until you retire, you don't think very much about Social Security benefits and other social programs such as Medicaid and Medicare. But as you get older, you may need them even if you have other retirement income.

Retirement has another meaning, too. It means that you are getting older, or for a better word, elderly. Now when people refer to you, they may affectionately call you "a senior citizen."

After you retire, your age starts becoming more than just a number. Age gains a new meaning with each decade after you turn 50. Then there is 60, and then 70, and then 80, and if you are truly blessed with longevity, you may reach 90 and, then 100.

Most people don't think of themselves as being elderly until they start feeling the aches and pains of old age and elder living. Certain maladies start setting in, aches and pains, that your doctors will confidently diagnose as symptoms of growing old.

Retirement and getting old are often put in the same category of thought. When pondering when they should retire, some people get the notion that they are getting too old to work, which we all know might, or might not, be true. Even so, retirement should be a time for peace and quiet enjoyment because you have worked long and hard for this time in your life, and it should be yours to savor.

Hopefully, you have invested wisely. As you should know by now, Social Security can't be depended on as a sole source of income as you grow older. You will need to have a retirement pension, a secure place to live, investment income like stocks and bonds, money in a 401(k) account and/or IRA accounts, and other investments that will help pay for your needs well into the future.

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