Mon. Dec 4th, 2023
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Investors accumulate funds for a variety of reasons. Educating children, building the long-sought dream home, charitable giving, legacies for family members – the list of objectives is endless. However, by far the number one priority is to fund a period at the end of a career(s) where one has the option to work – or not. Much has been written about the history of the concept of retirement.

It wasn’t so long ago that the notion of having a leisure time with such choices had never been considered. Then the Social Security Act was signed into law in 1935 by President Roosevelt – and age 65 was deemed to be the age at which a participant in the plan could “retire”. Interestingly, the average life expectancy of the American worker was less than 65 at that time – so mathematically no one would live long enough to receive a benefit! A lot has changed since then. We are living longer. A pattern coined “cyclical career systems” by some suggests that we may have several periods of work in our lives – each period of work followed by an extended time of recharging and leisure – followed by another career. This cycle might be repeated numerous times in many cases. The evolution from the agricultural age to the industrial age to the information age has created opportunities for workers to continue meaningful employment far past that of the manual labor more prevalent in 1935.

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