Benefits of Retiring Later
Everyone wants to retire early. I do, my friends do, my parents do, everyone does. But aren’t there some big merits to waiting a little longer? Yes, there certainly are.
First of all, you have more time to save money and get the benefit of compound interest, which is a theory where you interest collects and compound on itself, making you save a lot of money in a relatively small period of time. I know, it defies logic, but it’s there and it works.
Second, the longer you work, the more your social security checks will be. Sure, I know, most people believe social security will be gone by the time they retire anyways, but isn’t that just negative thinking? Act like it will happen, and try to stave off retirement a little longer, unless you’re a millionaire.
