If you are planning to work for the rest of your life, it is entirely understandable if saving for retirement is not top-of-mind.
The idea of a formal retirement at age 65, followed by a sedentary life of golf and gardening, is becoming less appealing to many people.
Nearly half of all US baby boomers still working do not expect to retire until they are 66 or older, and 10% predict they will never retire.
While some will continue working because they need the money, the majority want to continue working because they enjoy it.
This retirement fluidity can make saving for retirement somewhat challenging.
How do you stay motivated to save for the future if you don’t plan to retire?
Developing a non-retirement plan
Regardless of whether you intend to stop working, work part-time or continue working throughout your life, a retirement plan remains an essential, albeit fluid, document for several sound reasons:
Every person’s vision of retirement may be different, and yet all dreams are underpinned by the same common denominator: the freedom to choose.
Financial freedom is about having enough accumulated wealth to choose what you want to do with the rest of your life. Your retirement capital buys you freedom to spend your time on your terms.
Eric Jordaan is a director at Crue Invest
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