The One More Year Trap: When Working Longer May Not Improve Your Retirement (Ep. 72)
You’ve saved for retirement, but how do you know when another year of work is helping rather than delaying the life you planned?
In this episode, Greg DuPont examines the “One More Year Trap” and why retirement decisions can become driven by uncertainty rather than financial need. He explains how accumulated savings should translate into retirement income, why Social Security may leave a smaller gap than expected, and how taxes can affect the value of working longer. Greg also explores the cost of giving up healthy retirement years, the importance of involving your spouse, and how a written income plan can help you decide whether continuing to work still serves a clear purpose.
Greg covers:
- How repeatedly moving your retirement goal line can turn one additional working year into several lost years
- Why understanding the income your savings can produce may be more useful than chasing an arbitrary account balance
- How working longer can add savings while also creating tax consequences and using years you can’t recover
- Why retirement timing should account for your spouse, health, lifestyle goals, and the quality of your available time
- How a written retirement income plan can clarify whether another year of work has a defined financial purpose
- And more!
Connect with Greg DuPont:
- Website: Greg DuPont
- Website: Advocate Wealth Solutions
- Wealth Solutions Network Website (JoinWSN.com)
- LinkedIn: Greg DuPont
- LinkedIn: Wealth Solutions Network
- Facebook: Wealth Solutions Network
- info@wealthsolutionsnetwork.com
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