A report by the UK’s Barclays Wealth looked at the attitudes regarding retirement of of high-net worth individuals in 20 countries around the world.  It found that, onstead of planning a conventional retirement or making plans to retire early, most high earners a aspire to keep on working in some form.  In fact, the report finds that 60% of respondents envision always being involved in commercial or professional work of some kind, whatever their age. They thus become what Barclays deems a “Nevertiree.”

Among the most interesting findings of the report is a comparison of attitudes across countries.  Of particular note is the fact that very few wealthy individuals plan to retire in emerging economies.  In fact, Saudi Arabia, the United Arab Emirates, South Africa and Latin America make up the top 5 regions for nevertirees.  By contrast, the top 5 countries showing the most interest in retirement are Hong Kong/Singapore, the United States, Japan, Spain and Switzerland. The authors of the report, however, call for more research on this fact, noting that age differential and social attitudes towards retirement may influence this dsitribution.  The report also concludes that interest in “vevertirement: is on the rise and that “the older, working wealthy are economically productive, paying taxes, creating jobs and growing their wealth.”

Share your thoughts on this report with IAHSA.  Is “nevertirement” the future?

For more information:

The Mail & Guardian

 

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