Retirement

Random Thoughts on Unretirement – 01.10.26

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“We have to understand that anything in the past takes you out of the present moment. Anything in the future takes you out of the present moment.”

Zen Master Daigneault

To readers who are visiting this blog for the first time my posts on Random Thoughts About Retirement and Unretirement are written by an Old Guy who is old enough to be retired but isn’t retired and is still working. I had another birthday and the older I get the more I think about retirement. Back in 2023 I was thinking about what retirement for me would look like (see More Random Thoughts on Retirement – June 2023). But decisions such as this take serious thought and consideration. At first I thought I wanted to retire to a quiet life of blogging and writing my Future Best Seller titled The Man Who Had No Hobbies. After much thought I decided to add a short term goal to my retirement plan. My new short term goal is to avoid unretirement.

My RSS feed feeds me headlines on unretirement.

According to a new report from T. Rowe Price around 7% of retirees are looking for work in retirement, while 20% say they’re already working part time or full time…The two main reasons for coming back into the workforce are a tale of opposites. While 45% chose to work for social and emotional benefits… a slightly larger percentage — 48% — felt they needed to work for financial reasons.

Unretiring: More retirees are going back to work because they want to — or need to — https://finance.yahoo.com/news/unretiring-more-retirees-are-going-back-to-work-because-they-want-to–or-need-to-123203300.html

And this.

Once an eagerly awaited milestone, retirement is currently undergoing a transformative reevaluation. Traditionally seen as a well-deserved period of rest and relaxation, the dream of early retirement is now being challenged by a new perspective – that of embracing lifelong work. This paradigm shift reflects the changing nature of work, increased life expectancy, and the desire for personal fulfillment.

Rethinking Retirement: The Case for Embracing Lifelong Work — https://due.com/rethinking-retirement-the-case-for-embracing-lifelong-work/

The reality is many won’t have a choice. The following chart illustrates retirement savings as of 2019.

Americans are having trouble financially preparing themselves for life after work. A recent Federal Reserve report found that nearly a quarter of U.S. adults have absolutely no retirement savings or pension. Even though the level of preparation increases as people get older, concern about inadequate savings is still readily apparent across all age groups, even older people in their 60s.

A Quarter Of Americans Have No Retirement Savings — https://www.statista.com/chart/18246/share-of-americans-who-have-no-retirement-savings/

OOPS. I’m glad I didn’t click the Publish button. The savings situation appears to be worse than I thought. The study below was an analysis of data from 2010!

The study broadly examines how American households are faring in relation to retirement savings targets recommended by some financial services firms. It uses the Federal Reserve’s Survey of Consumer Finances to analyze retirement plan participation, savings, and overall assets of all U.S. households age 25 to 64, not just those with retirement account assets. This is important because some 45 percent, or 38 million working-age households, do not have any retirement account assets.

The average working household has virtually no retirement savings. When all households are included— not just households with retirement accounts—the median retirement account balance is $3,000 for all working-age households and $12,000 for near-retirement households. Two-thirds of working households age 55-64 with at least one earner have retirement savings less than one times their annual income, which is far below what they will need to maintain their standard of living in retirement.

The findings confirm that the American Dream of retiring comfortably after a lifetime of work will be impossible for many. Based on 401(k)–type account and IRA balances alone, some 92 percent of working households do not meet conservative retirement savings targets for their age and income. Even when counting their entire net worth, 65 percent still fall short.

The Retirement Savings Crisis: Is It Worse Than We Think? — https://www.nirsonline.org/reports/the-retirement-savings-crisis-is-it-worse-than-we-think/

So how will you afford retirement without any savings? Don’t look to Social Security. Here’s some numbers on average Social Security payments. The full chart at the source website goes up to age 100.

As of December 31, 2021, the average Social Security payment for all retirees was $1,658.03 a month, according to the Social Security Administration’s Annual Statistical Supplement for 2022. For men, the overall average was $1,838.08. For women, the average was $1,483.75 — a difference of $354.33 per month.

Here’s the Average Social Security Check for Men vs. Women — https://www.gobankingrates.com/retirement/social-security/average-social-security-check-men-women/

I’ve previously advised everyone to Save as Much as You Can Because Whatever You Manage to Save Will Never Be Enough – Random Thoughts on Retirement. Now here’s my second piece of sage advice: keep working so you don’t have to unretire.

Whether people unretire or simply stay in the workforce longer, some of the largest financial benefits of additional years of work are delaying retirement account withdrawals and delaying claiming Social Security benefits. These actions essentially shorten the amount of time your assets will need to support you in retirement. Even a few additional years of income have a positive effect on the probability that you won’t outlive your funds.

“Unretiring”: Why Recent Retirees Want to Go Back to Work — https://www.troweprice.com/personal-investing/resources/insights/unretiring-why-recent-retirees-want-to-go-back-to-work.html

Whew. Long post. Longer than I anticipated. If you made it this far, congratulations!

Double OOPS. Hit the publish button too soon. Postscript.

Economic Satisfaction Declines With Age – https://www.statista.com/chart/35656/us-respondents-who-view-their-financial-situation-positively/

Note the survey respondents’ age stops at 64.

Concerning Trends in Retirement – More Less Than Random Thoughts

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  • Lack of sufficient savings
  • Inflationary pressures
  • Rising credit card debt
  • Half of respondents said they had saved less than what was needed for retirement.
  • When we asked an open-ended question about why they rated their satisfaction with retired life as they did, inflation was a major reason.

The ‘Concerning Trends’ in Retirement Now – https://www.kiplinger.com/retirement/concerning-trends-in-retirement-now

I’ve decided not to retire. Wait, let me clarify my statement.

I’ve not changed my mind about my decision not to retire five years ago.

I love double negative sentences.

 Fewer than twenty percent of older people worldwide enjoy a retirement pension that is enough for them to live off. Although countries like China and India are now also developing their pension systems, the prospect of most older people receiving pensions totaling 60 to 70% of their final salaries remains a long way off.

The invention of retirement – https://www.swisslife.com/en/home/blog/interview-matthieu-leimgruber.html

The majority of our friends are retired. I’m always asked when I’m going to retire. My quick answer was always “Don’t know”. I’ve since modified my response to “Two to four years”. This has been my answer for the past two years. Might still be my answer next year too.

https://www.kiplinger.com/retirement/retirement-planning/the-90-rule-of-retirement-live-long-and-prosper

Nearly 40% of Americans ages 55 and older were employed in 2024, according to the Bureau of Labor Statistics — a striking shift that’s even more dramatic when you look at the oldest workers. Today, 2.8 million men over 70 are working in the U.S. — part of an extraordinary long-term transformation in which employment among Americans 75 and older has quadrupled since 1964. More Americans are ‘unretiring’: 5 money factors to weigh before joining them – https://www.aol.com/finance/retirement-planning/article/unretiring-is-trending-5-money-factors-you-should-consider-first-153926242.html

I think I’ll retire in two to four years.

Would You Pay $700.00 a Month to Live in One of These?

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Brownstone, by virtue of renting cheaply in a city with sky-high prices and a dearth of new housing, has received thousands of applications for its $700-a-month pods over the past few years, Stallworth said. He thinks there’s at least “10,000 people probably interested in being in San Francisco at any time” and pointed to the tens of thousands of applications that Y Combinator, a local startup incubator, has received in recent years.(Startup founders make up a sizable share of the Mint Plaza building’s residents, Stallworth said.) Startup behind $700-a-month bed ‘pods’ wants to put 10,000 more in San Francisco – https://www.sfgate.com/tech/article/startup-bed-pods-san-francisco-21029460.php

I keep telling The Boss all I’m trying to do is to make our retirement income last as long as we last.

Rejected. Again.

Random Thoughts on Retirement and Longevity – Can Remote Work Delay Retirement?

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The mortality impact is interesting

The Journal of Epidemiology and Community Health found that those who worked just a year beyond retirement age had a 9% to 11% lower risk of dying during the 18 years the research covered, regardless of health. Could Remote Work Delay Your Retirement? – https://www.kiplinger.com/retirement/retirement-planning/could-remote-work-delay-your-retirement

If you only eat “superfoods” will you have a long life?

“There is no single secret to living a long, healthy life.” Salvatore Di Somma, MD. Sanford Burnham Prebys. “A long and ongoing look at the secrets of human longevity and healthy aging.” ScienceDaily – https://www.sciencedaily.com/releases/2025/05/250505171023.htm

Coffee

All coffee types decrease the risk of adverse clinical outcomes in chronic liver disease: a UK Biobank study

Kennedy, O.J., Fallowfield, J.A., Poole, R. et al. BMC Public Health 21, 970 (2021) – https://bmcpublichealth.biomedcentral.com/articles/10.1186/s12889-021-10991

Movement is medicine

Being consistently physically active in adulthood is linked to a 30–40% lower risk of death from any cause in later life, while upping levels from below those recommended for health is still associated with a 20–25% lower risk, finds a pooled data analysis of the available evidence, published online in the British Journal of Sports Medicine. It’s never too late: Just moving more could add years to your life — https://www.sciencedaily.com/releases/2025/07/250711224321.htm

Whiskey

University of California neurologist Claudia Kawas and her team have been studying the lifestyle habits of people who live until their 90s. The group has been researching people of this age group for some 15 years – and they have found that those who drank two units of alcohol every day were less likely to die prematurely.“I have no explanation for it, but I do firmly believe that modest drinking improves longevity,” Kawas said. – Whiskey makes you live a longer, healthier life — https://www.irishcentral.com/culture/food-drink/whiskey-live-longer-healthier

Loneliness

Now, however, new research is calling into question this long-held belief and, surprisingly, found that loneliness may not be quite the threat that we all once thought it was. In fact, the problem may be one of confusing cause and effect. The Surprising Truth About Loneliness and Longevity — https://www.kiplinger.com/retirement/the-surprising-truth-about-loneliness-and-longevity

Loneliness is pervasive in home care settings across the 3 countries; however, its association with mortality differs from reports for the general population. Loneliness was not associated with an increased risk of death after adjusting for health-related covariates. The causal order between changes in health, loneliness, and mortality is unclear. For example, loneliness may be a consequence of those health changes rather than their cause. Cross-National Evidence on Risk of Death Associated with Loneliness: A Survival Analysis of 1-Year All-Cause Mortality among Older Adult Home Care Recipients in Canada, Finland, and Aotearoa | New Zealand — https://www.sciencedirect.com/science/article/pii/S152586102500204X

(Not) Random Thoughts on Retirement and THE SCARY CHART of the Year So Far

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How Bad Could This Get? https://awealthofcommonsense.com/2025/04/how-bad-could-this-get/. I’ve lived through several stock market crashes. And to think I started the day reading up on the latest U of Michigan healthy aging poll.

National Poll on Healthy Aging home

Working adults age 50 and older commonly reported these reasons for working as being very important:

  • Have financial stability (78%)
  • Save for retirement (65%)
  • Get access to health insurance (59%)
  • Support family members financially (52%)
  • Maximize Social Security benefits (46%)

Link: https://www.healthyagingpoll.org/

How about adding these bullet points to the list:

  • Working past age 50 enables you to weather stock market volatility better
  • Working past age 60 enables you to have financial stability when the stock portion of your retirement portfolio loses value
  • Working past age 70 enables you to say I’m glad to be still working when the stock portion of my retirement portfolio loses value.

Disclaimer: the additional bullet points are fictional and not related to the real poll questions or answers.

Monday should be a very interesting day in the stock market. Stocks appear to be headed towards a fire sale. Time to buy!

Men Are Bad at Retirement

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When envisioning retirement, many men imagine traveling, playing with grandchildren and driving that sexy convertible they can finally afford. The reality? For those over 70, 94% of adults watch television every day, with nearly 10% spending more than nine hours a day staring at the shows.

Men die earlier, with an average life expectancy of 73.5 years, according to a 2021 study. That’s about five years earlier than women in the U.S. One study found that men who considered themselves “traditional” men — unemotional and self-reliant — were more likely to ignore medical problems, and suffered worse health outcomes than women. And the problem gets worse as they get older. About 74% of men 55 and older go to the doctor for an annual check-up, compared to 43% of men age 35-54 and 26% of men age 18-34. Why So Many Men are Bad at Retirement https://getpocket.com/explore/item/why-so-many-men-are-bad-at-retirement?

This is an interesting article. Just more reasons why I’m not retired.

Retire. Watch TV all day long. Repeat.

Yikes.

There Are Health Related Benefits to Working Past Age 65

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“Our perceptions of working after age 65 have changed over time, and these data suggest that most older adults who are still able to work after the traditional retirement age derive health-related benefits from doing so,” said poll director Jeffrey Kullgren, M.D., M.P.H., M.S., a primary care physician at the VA Ann Arbor Healthcare System and associate professor of internal medicine at U-M. “As we learn more about how loneliness, lack of social connection and isolation intertwine with physical and mental health in older adults, the role of work is important to consider.”Michigan Medicine – University of Michigan. “As more Americans work later in life, poll shows positive health impacts, especially for those over 65.” ScienceDaily. http://www.sciencedaily.com/releases/2025/02/250211141049.htm (accessed February 12, 2025)

National Poll on Healthy Aging Team. The Intersection of Work, Health, and Well-Being. University of Michigan National Poll on Healthy Aging. January/February 2025. Available at https://dx.doi.org/10.7302/25186

Would You Pay $850.00 a Month to Live in One of These?

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The image above shows a proposed apartment in Denver, which would cost about $850 – less than half the current median rent in the city of $1,771. Are ‘micro-apartments’ converted from offices the answer to the housing crisis? https://www.usatoday.com/story/money/personalfinance/real-estate/2024/10/22/empty-offices-become-tiny-apartments-housing-crisis/75784459007/

I actually visited some micros in Providence RI.

One of the nation’s most beautiful historic shopping arcades was restored as 48 affordable micro-lofts, rents starting at $550 per month, and 17 small retail spaces in Providence, Rhode Island. The Micro Lofts at the Arcade Providence, completed in 2012, helps keep young professionals and artists downtown and is a major step in revitalizing the city. Micro Lofts at the Arcade Providence – https://www.cnu.org/what-we-do/build-great-places/micro-lofts-arcade-providence

If I were a lot younger, single, had a job in a CBD and not set in my Old Man Ways I would consider micro-living. I might even try a repurposed recycled wind turbine.

wind turbine tiny house

all images courtesy of Vattenfall and Business in Wind

During Dutch Design Week 2024, Superuse and Vattenfall showcase the discarded wind turbine part they’ve transformed into a furnished tiny house powered by solar panels. The design studio and energy company convert a nacelle, which is the top part of a wind turbine or the container of the engine, into a compact and movable furnished home, and visitors to the Dutch event can see it firsthand between October 19th and 27th, 2024, in Eindhoven. discarded wind turbine vessel turns into solar-powered tiny house by superuse and vattenfall — https://www.designboom.com/technology/superuse-vattenfall-discarded-wind-turbine-solar-powered-tiny-house-dutch-design-week-2024-10-24-2024/

I keep telling The Boss all I’m trying to do is to make our retirement income last as long as we last.

Rejected. Again.