Thinking on what you will do after retirement? Think again!

November 24th, 2008 by jose

If you are like most people in the academia, you place a lot of value on security and benefits. You also have great plans for that day when you retire and have time to… well, have a life :) .

Jack Cheng has a superb post on how much you can expect to live and use that free time you have earned:

Picture an average American who decides to stop working at the age of 65. Got it? Now guess how many years he’ll have to enjoy his post-retirement before he passes away.

I’ve asked this to a bunch of friends and coworkers over the last two weeks. I’ve heard answers like “15-20 years” or at the very least, 10 years. But none of those is even close.

The actual answer? 18 months.

Scary. Being a workoholic doesn’t sound that good. Sorry to post this in a productivity blog :)

If you enjoyed this post, make sure you !

14 Responses to “Thinking on what you will do after retirement? Think again!”

  1. NewWorldOrderNo Gravatar Says:

    This post underscores one of Tim Ferriss’ core messages of distributing mini-retirements throughout life.

  2. John HunterNo Gravatar Says:

    I do not believe this data is even close to accurate. If this were accurate several huge problems go away. 1) social security funding. 2) medicare funding. 3) failing to save for retirement. According to the CDC the expectation at age 65 is 18.7 years. I would bet, though I don’t have the data, that the life expectancy for someone working until the day they turn 65 is higher than someone not working on that day.

  3. John CrosleyNo Gravatar Says:

    The 18 months figure is unbelivably bogus that is why nobody guesses it.

  4. BouNo Gravatar Says:

    Nobody can believe that! I’d like to see the scientific or statistical evidence for that.

  5. starpathNo Gravatar Says:

    And the answer is: DON’T RETIRE.
    Why? Because it is a health risk. So if you don’t enjoy your job, find a job you do enjoy. Good luck with that.

  6. Antonia Beauty TipsNo Gravatar Says:

    Picture the average American who DOESN’T retire at 65. How long does he have to live? 8 months is my guess!

    Being a workaholic is never good – you got to stop and smell the flowers sometime! It is better to find a job that you can live with rather than sticking to one that can kill you.

    Are you seriously trying to tell us that a man who retires at 65, and takes up beachcombing, is going to die in 18 months due to boredom? I am younger than 65, but more than willing to take up the challenge. (It’s a tough job but someone’s gotta do it! :-) ) Any sponsors?

  7. SophieNo Gravatar Says:

    Well, I don’t know about the US, but here are the statistics for France:

    “A 60 ans, l’espérance de durée de retraite des femmes est de 6,3 ans supérieure à celles des hommes, respectivement 24,4 et 18,2 ans en 2000,” (Le Monde)

    For those who don’t understand French, it says that when retiring at 60, women have a life expectancy of 24,4 years and men of 18,2 years. I’m assuming it would be relatively similar?

  8. Says:

    For me retiring in such an old age is not advisable. How can one enjoy life after 60? I believe retirement is good at the age where everything is already in order or the person is already considered as complete. At 30 or 40 is best.

  9. RNo Gravatar Says:

    life expectancy at birth for an american male is 75 according to the CIA world factbook

  10. BBNo Gravatar Says:

    Life expectantcy is less for inner-city than suburbia. I moved to the country-side recently and I can see why.

  11. SchufakreditNo Gravatar Says:

    Yes 60 is little bit late. You are right with 30 or 40.

  12. American Eagle Silver BullionNo Gravatar Says:

    Well, I did go thru’ Jack Cheng’s superb post. It’s worth spending sometime on. Jose, your question(how many years one should be able to enjoy post retirement plans??) did revoke lot of other questions in the mind.. Thanks for the post.

  13. Predictive Dialer SoftwareNo Gravatar Says:

    I think in my case, as soon as I retired.. I will find just another job to keep me busy.

  14. Chy KingNo Gravatar Says:

    I will open a Shop .. probably a Grossary store!

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