Money Tip
Die Working

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By Dayana Yochim
July 9, 2002

Potty train. Pull all-nighters. Work. Pay taxes. Retire. Play golf. Die.

Such is the natural order of things in life. But changes are afoot. Call it evolution or sheer boredom. Whatever the reason, more people say they plan to continue to work long past the traditional age of retirement.

According to a 2002 Gallup Organization poll, 83% of 1,000 non-retired American investors plan to work in retirement. Sixty-seven percent of those polled plan to continue working -- not for money, but for fun.

These ladder-climbing seniors plan on working as consultants or part-timers, in a new career or starting a new business. Other studies have found that 80% to 90% of pre-retirees plan to continue working during their golden years.

Why? One word: boredom. Sure, many retirees plan to take time off and see the world. But at some point, they'll have to come home... and then what? Plain and simple, many retirees have had trouble finding fulfilling ways to take up all the extra time.

Of course, some folks won't have a choice. As several studies have shown, many people haven't saved enough for retirement, so their options are limited. You, being the Fool you are, don't want to be in that situation -- so make sure you have a solid retirement plan, and consider opening an IRA.

If you're going to switch careers or try to turn your crocheted-doily business into a multinational corporation, retirement is certainly the time to do it. You've hopefully invested well, saved for a rainy day, and are making good use of your Senior Discount Card at Sizzler. When it's time for some second- (or third- or ninth-) career advice, simply Ask The Headhunter.