Americans Rip Up Retirement Plans - Nearly Two-Thirds of Those Between 45 and 60 Plan Delays, a Steep Rise From Two Years Ago.
Long-time readers know that my experience teaches me that retirement is often a poor state of affairs for the average American male. Many deteriorate physically and mentally. I have one 92 year-old client who goes to the office every day after swimming a half-mile at the Y. Work keeps him young. He does indulge in 4 weeks of vacation travel each year, however, and has great-grandkids around the house all the time. Nice, balanced life. First wife died, now on his second but she is not doing too well now.
A beautiful life, really, although he is not wealthy. He still has a mortgage, which I think is a smart thing to have. Bought his current home for $37,000, now has a $200,000 mortgage on it and it is worth around $700,000. today.
I have been updating his will and trusts for over 25 years, when he first thought he was getting old.