Blog | Personal Finance

Something’s missing in this retirement story

On Monday I was browsing CNN Money.com and noticed an article titled "Work until we're 70? You can't be serious"

The article discusses the reality that many workers are facing - approaching retirement age without enough money saved to retire. It goes on to note that the conventional wisdom is to just keep working longer, and then suggests that people in this situation take a unique approach: target retirement planning not to their age but to the number of years they're likely to make good money in their chosen field.

Although this is a good idea for younger people, it's not of much use to people who are already at retirement age.

But there's a bigger omission here - no mention whatsoever of making money work for you. This article's author, like most practitioners of conventional wisdom, assumes that the only way to make money is to go work for it.

If you know someone who is facing the possibility of having to work until they die, be a good friend - show them that there is another option. They're certainly not going to hear about it from the mainstream media.