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In a recent episode of the Colbert Report, Stephen Colbert did the segment "The Word" and showed a headline that read that many middle income people say they plan to work until they die. After a bit of research, I found that he was referring to a study by Wells Fargo, entitled: "Middle Class Retirement Study."
Highlights from the study include:
• 59% say their top day-to-day concern is paying the bills
• 42% say both saving and paying the bills is not possible
• 48% are not confident they will be able to save enough for a comfortable retirement
• 34% say they will have to work until they are at least 80 because they have not saved enough.
Thank you Wells Fargo for validating my life philosophy of Early Working Retirement! When I declared my Early Working Retirement it was for the same reasons mentioned above. It became clear that I was having a hard time just paying the bills and that saving was not happening. I realized at an early age that it was time to give in to the fact that I won't be getting a house in Boca when I turn 65.
Its not that I'm not still giving 100% at my work, but that I am enjoying just getting by. So I invite my friends and my fellow middle-classers to join me in declaring an Early Working Retirement so you can enjoy your life as much as I am enjoying mine!
Learn more about Early Working Retirement
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