What would you do with a long retirement?

Enable’s IFAs in Bishop’s Stortford know that an early retirement can look very attractive but stopping work can suddenly bring a big change of status and you can find that days that were busy with commuting, meetings and deadlines are now long and empty. Others do not find this at all and fill their time with travel, voluntary work and hobbies to make a life just as fulfilling as working.

Many people of retirement age have load more energy, current  retirees just aren’t as tired out as previous pensioners because they  are part of a generation that was great in number but with relatively few children and elderly parents dependent on them, so they were able to be pretty economically productive, by largely working less than their predecessors. According to analysis of OECD and Bank of England data by the International Longevity Centre, over their lifetimes, those retiring today have worked an average 23 hours per week, versus 30 hours for those retiring in 1970 a third less!

They have also enjoyed far better health, thanks to improving diets and medical care. Dr George Leeson, co-director of the Oxford Institute of Population Ageing at Oxford University, believes that soon 65-year-olds will be living another 35 or 40 years as the norm. 'Everything is going to change', he said. 'That life extension that we’re seeing is not time spent in frailty, they are not inactive years.'
It could mean a whole new phase of life in late middle-age, encompassing retraining and extra education. 'At the moment we tend to think of our lives in thirds,' Dr Leeson said. 'Divided roughly, we educate ourselves for a third, work for a third and are retired for a third. If you want some help talking through how you are going to operate for the final third of you life Enable’s IFAs are here to help.


Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
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http://www.thisismoney.co.uk/money/pensions/article-4025794/What-40-year-retirement.html