Most people aren’t ready financially to retire completely at 65 or even 67, but they can still slow down a little.
The bad news is that most of us will need to work longer. The good news is that, if we do it right, most of us will want to.
Retiring at 65 or even 67 is just not realistic for most people’s finances — or the government’s. So both the public and politicians need to give up on the idea that each successive generation is entitled to a longer retirement than the last. Instead, the US needs to rethink not only the labor market but also the very conception of work. In the new economy, many Americans will work well into their 70s.
Continue reading the entire piece here at Bloomberg Opinion (paywall)
___________________
Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.
Photo by Jeffrey Greenberg/Universal Images Group via Getty Images