Retirement is still perceived by many as an abrupt end to working life. The stereotype is that one day you’re striding into work with your briefcase and latte, the next you’re watching daytime TV and twiddling your thumbs.
In a country like New Zealand, where a higher standard of living means people now live at least 20-30 years after retirement, becoming a retiree is no longer such a dramatic shift from full-time work to full-time golf.
“My parents’ generation retired in their 60’s and had quite a short retirement. But these days people retire and live for 30 years afterwards, that’s a lot of time to fill with things to do now that people are healthier and their horizons are broader!”
- Financial Adviser, NZFP
As more people decide to continue working during ‘retirement years’, we thought we’d explore the reasons why – and share the holistic benefits of working later in life!
The changing retirement landscape
Life expectancy in New Zealand has been steadily rising. While 71 was considered a ripe old age in the 1970’s, today the average person lives until they’re around 82!
With this increase in life expectancy, we’re seeing people continue to live healthy and active lifestyles, and also continue to work long after the traditional retirement age.
So why would someone choose to continue working, even if they don’t have to?
Mythbusting: despite assumptions that working in retirement is detrimental, more studies are showing that those who continue to work later in life are living longer, healthier lives!
How NZFP can help
As financial planners, we pride ourselves on taking a holistic approach to financial security and wellbeing in retirement.
“My parents’ generation retired in their 60’s and had quite a short retirement. But these days people retire and live for 30 years afterwards, that’s a lot of time to fill with things to do now that people are healthier and their horizons are broader!”
– Financial Adviser, NZFP
Even if you can afford to retire early, you may wish to consider the benefits of working in retirement – even part-time or voluntarily.
As part of your financial plan, an adviser can show you the choices you have available based on your lifestyle goals – whether that means scaling back your working hours to allow for leisure activities, volunteering for a charity you’re passionate about, or working for some extra cash flow to spend on yourself each week!
Gain clarity and peace of mind by talking to one of our team of advisers.
“At NZFP we follow our own advice, too! I don’t see myself retiring anytime soon
because I enjoy the social contact and sense of purpose that comes with working as
a financial planner.”
- Financial Planner, NZFP
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