With the financial spotlight constantly hot on millennials, it’s easy to lose sight of the age group that’s really earning: those in their 60s.
The Institute for Fiscal Studies recently state middle-income 60-74 year olds are boasting incomes that are over 60 percent higher than what they were in the mid ’90s. And the IFS says these employment rates show no signs of stopping.
The the other thing trending up? Retirees’ age. People are living longer, and therefore will need more money in retirement.
In other news, a traditional model of retiring by 65 isn’t going to cut it. It seems we’re veering toward an almost post-retirement period. Those in the 60s and 70s seem to get it, which advisers catch on? What will this new stage of earning mean for financial health planning?
