Wealthy Workers Less Likely to Retire, Enjoy Working

Wealthy Workers Less Likely to Retire, Enjoy Working

Wealthy Workers Less Likely to Retire, Enjoy Working

Retirement is no longer the goal of wealthy workers across the world who, according to recent survey held by Barclays Wealth, want to continue to work as long as they can. 60% of wealthy individuals in various countries, all of which have a net worth of ?1 million or more, embrace the concept of Nevertirement. Instead of retiring at a specific age, they plan to continue to run their businesses and work at their companies as long as their health allows them to.

This concept is growing in popularity among younger workers as well. Over 70% of those under 45 hope to be involved in some form of work until their death. Even the wealthy who inherited their money want to continue working. The UK and US had the highest respond rates falling in line with this trend, followed by Ireland, Monaco, and Spain.

The experts at Barclays Wealth explain that most of these wealthy individuals are driven by a need for continual challenge and growth, which the traditional activities of retirement may not supply. As the average lifespan grows longer, many workers look forward to more years to pursue their career goals and reach the top of their field. A person who derives their value and self-esteem from their work will not want to be parted from it prematurely.

Many of these Nevertirement fans are choosing to use their vast experience and accumulated wealth to build new businesses or find positions of influence within their area of expertise. One downside to this practice is the interruption of important decisions about inheritance. Retirement is the most common time for writing a will and determining what will happen to property and wealth once a person passes away. If a person continues to work until their death, they may not take the time to legally clear these issues.


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