That’s 40 years of work (from roughly age 20 to age 60) at around 2000 hours of work every year. Man oh man!

This isn’t meant to depress you… It’s to get you focused and starting to consider how to ratchet that number down after putting in that much time. Or to be ready if the choice to be done earlier isn’t yours.

The Wall Street Journal published an article this week (4/25/24: https://www.wsj.com/personal-finance/retirement/retire-at-65-its-more-like-62-d5f943c4?mod=hp_lista_pos1) about how workers are “…overly optimistic about how much they can work later in life.” This includes working longer in their careers, working part-time in their field, etc. While most people say that age 65 is their target for retirement, the actual median retirement age is 62.

People leave the work force sooner than they plan to for a variety of reasons. They may be part of a layoff and then encounter ageism; they may leave to care for aging parents or to take care of their own medical issues, etc.

Despite concerns about inflation and changes in retirement programs, most retirees report being as happy as anticipated, with nearly 70% stating their lifestyle matches or exceeds their expectations. Although retirees worry about finances and spending, the majority feel free to spend within their means and focus more on meaningful pursuits and relationships as they age.

While optimism about living comfortably in retirement has increased slightly, lingering uncertainty, particularly regarding inflation, tempers overall optimism levels. Younger Americans, however, exhibit higher levels of optimism, likely due to earlier retirement savings through initiatives like automatic enrollment in 401(k) plans.

The survey underscores the importance of realistic retirement planning and the need for workers to consider potential challenges that may arise, such as health issues or layoffs, when envisioning their retirement timeline.