Retirement is now not fixed for 65, it goes beyond that

The perception that is common is that as you turn 65, you have achieved the milestone of your life. This is the time you kick back, hang up the spurs and reap your labor fruits as the sunset is approaching your porch. But, the same perception has become a past for some people.


Nearly 10,000 baby boomers are turning every day 65 and are now ready to work even after their traditional age of retirement. Of course, some do it to meet financial reasons, while others pursue working just because they love or enjoy working and their workplace that they are not ready to part even after retirement age.


There are many Americans who have crossed 65 and are actually older and they are yet full time employees or at least part-time employees. The count in 2000 was around 4 million, but now in 2016 it is found that 9 million people are working after retirement, as per the statistics of the U.S. Bureau of Labor.

Medicare Supplement plan g

Ironically, working or having a desire to work beyond 65 for genuine monetary assistance also may result in costly premium penalties as you do not get enrolled in the federal Medicare eligibility period.  You may qualify for Medicare Supplement plan g or another plan.  To find out how you can save money visit


Having a defined plan also assures at retirement a specific monthly benefit. The plan may be an exact amount in dollars as promised benefit such as per month $100 after retirement.  This may also be more taking into factors such as service and salary. For instance it can be taken as last 5 years average salary’s 1 percent with an employer for each year of service. The benefits mostly in such defined plans are traditionally protected by the federal insurance and may feature certain limitations.


Likewise, a defined plan contribution may not assure any benefit of specific amount at retirement.  In such a plan, the employer or the employee or even both may contribute to the individual account of the employees under this plan. This may be at 5 percent annual earnings or some fixed rate. Such contributions are invested on behalf of the employees. Ultimately, the employee receives in their account the balance that is received by contributions minus or plus the investment losses or gains. Therefore the account value may fluctuate owing to the changes in the investments value.


Therefore, you may plan for after retirement while you are working and secure your future. This can be through contributions, insurances or savings, choice is yours.

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