I read an interesting article today that if married couples are around people who are getting divorced at work and in their social circles, they are more likely to get divorced themselves.
This could be true also for retirees: if you see your colleagues, counterparts, friends and family retiring, would you be more likely to retire, regardless of your financial readiness.
The researched-based article from Squared Away, which is linked below, suggests that there are psychological factors at play when making the decision. One financial planner is quoted as saying that pre-retirees have a vague idea of where they’re at financially; however, often, he suggests it’s an important change such as a friend’s retirement or deteriorating health that brings about a retirement.
Additionally, I see others who would fall into the category referenced of having more education and resources, working into their late 60’s or 70’s. Perhaps because they have been more successful at their job and retaining their professional identity longer outweighs their perceived benefits of more leisure time. What is your experience?
Please comment below on your personal or anecdotal experience of others who are approaching or in retirement. We can learn from each other!