Working After Retirement

The BBC has an article about an HSBC study that concluded that The elderly prefer work to retirement. Now I understand how people want to keep busy and have an active retirement but continuing your 9-5 job is no way to spend your retirement.

Now if you need to work because of financial reasons, well that's another perfectly good reason. But for all of you out there who were involved in the HSBC study I have three words for you, GET A HOBBY! Go out there and get a hobby that you're passionate about. Something that you can focus your energy into and get excited about.

Simplified Employee Pension

Being a small business owner I really need to start a SEP (Simplified Employee Pension). As a one person company I don't have the normal benefits that most working people receive. So a creating a retirement fund through my company should be a high priority.

Technically I could still do it this year but I filed my 2005 Taxes last month and already have the refund in the bank. Every year I say that this is the year that I start a SEP but I never get around to it.

Well let's mark 2006 as the year that I finally start that SEP. I hear it's really easy to do so there's no excuse.

Simplified Employee Pension: "The payoff of creating a SEP or any other retirement plan is huge. For the 2005 tax year, an employer can deduct up to 25 percent of an employee's compensation, or up to $42,000..." - Mohave Daily News