Me retire? No chance!
There are lot of “plusses’ to not retiring. And they definitely influence life insurance planning.
Let me explain.
My father Leon Kobrin worked into the last year of his life. So did his father, my Grandpa Harry. You can bet I will. If you love to work, you keep working.
You need to take care of yourself mentally, physically, and spiritually to be able to work; at the same time, working can help you take care of yourself in all areas. It’s a splendid synergy that could add years onto your life.
By the time you are in your fifties or sixties, you have had a good career. Now you have skills, experience, lots of contacts, and some working capital. You could become more successful than ever! Think of all the additional people you could help with your product or service – all the problems you could solve. And all the worthy charities you could support!
Planning to work for the duration of your life would definitely impact your decisions about life insurance. You would probably have family members dependent on your income for many years. Plus the charities dependent on your donations. Maybe some additional debt. Instead of carrying term insurance for the “pre-retirement years,” you would probably use some form of permanent life insurance, to last as long as you do.