Has the idea of retirement become “artificial”? Think about it – at what age will you stop working? Will you stop working for real? For some people, retirement really does mean that they’re quitting the career they built up their whole lives and living solely off of what they’ve saved over the previous decades.
Every month, your company may deposit money directly from your paycheck into a 401(k) without you paying much attention to it, except for a quick glance when your W-2 is mailed out each year.
Flashback for a moment. The Great Recession during the early 2000s was life-changing for many members of the workforce. Nearly 8.7 million people lost their job over that roughly three-year period and had to make several new transitions. Enrollment at four-year universities, community colleges and technical schools spiked as people prepared themselves for a career switch. That means their planning for retirement also changed.