Reasons for retirement

Reasons for retirement

Retirement refers to the decision voluntary or compelled by age to withdraw from work. It is a good step in one’s life because moving forward; you have more time at your disposal as well as the luxury of choice on what you decide to do in spending your time. The decision to retire is influenced by many factors and this may kick in at any age but mostly past the age of 65.

The number one and most basic influencer of retirement is age. When an individual attains the age of 65, they are required by law to withdraw from work. This is because at this age, they may not be able to deliver as expected I terms of quality as well as quantity and by so doing, they do not give the company or employer the best value for the salary that is paid to them.

Another reason for retirement is when a company decides to lay people off and therefore conducts this exercise on the basis or using the criteria of productivity. Older adults are seen to be less productive compared to young people. This is merely an assumption as statistics have shown that some older adults are by far more productive than their young counterparts. For 2020 get a medicare advantage plan at http://www.medicareadvantageplans2020.org

Diseases are also another reason that sends people to retirement. The thing about diseases and illnesses is that it does not discriminate on the basis of age. When diagnosed with a disease that makes you incapable of delivering what you are employed to do or even give the services that you are meant to, it becomes mandatory that you go for retirement, early or mature so that you can go and focus on your healthy. This is because you become weak and sometimes even a danger to your colleagues and so it becomes ethical that you separate yourself.

Another cause of retirement is a personal decision to go for retirement. There comes a time in an individual’s life when they finally decide that enough is enough. At this point, they decide to withdraw from active service so that they can go home and have an easy time doing their own things. This decision is often triggered by the urge to focus on personal goals that employment and or active service at work have prevented you from doing. Such projects are mostly things like farming, starting a private business or even starting a project that involves construction. This reason for retiring however comes following a lot of thought and reflection as well as consultation with spouses and other mentors so that one does not end up regretting later.