Very many individuals labour well into an old age. A reason for this includes lack of enough retirement savings, having passion for one’s job, failing to pay off debt in time and still having dependants at a later age. This essay argues that while there are some negatives to working until a later age, the advantages are predominant.
There are several reasons why an individual would work until a later age. One of these reasons is due to a lack of enough retirement savings. This can happen because of poor planning, poor pay or inflation. Another factor is having passion for one’s job. Some doctors for example get contentment from helping their patients and would therefore not want to lose that. Additionally, other individuals may choose to continue working so that they can pay off car loans, student loans or mortgage debts.
Subsequently, individuals who had children at a later age may continue working to support them.
While there are disadvantages to working until an old age such as not spending quality time with loved ones, the advantages are predominant. The benefits include paying off debts so that an individual can enjoy their old age with peace of mind. Secondly, people can continue saving for their retirement, so that they don’t lack basic needs later in life. Moreover, others for example doctors can continue getting contentment and subsequently been happier. Finally, people who sired kids at an old age can continue supporting them until their children are independent.
In conclusion, many individuals work until an old age for reasons such lack of enough retirement savings. I believe that, the benefits such as saving more, paying off loans, job contentment and supporting dependants outweigh the negatives.