{"id":64362,"date":"2025-07-14T08:08:16","date_gmt":"2025-07-14T08:08:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/64362\/"},"modified":"2025-07-14T08:08:16","modified_gmt":"2025-07-14T08:08:16","slug":"will-working-at-age-90-plus-become-the-norm","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/64362\/","title":{"rendered":"Will Working at Age 90-Plus Become the Norm?"},"content":{"rendered":"\n

Warren Buffett recently announced that he plans to retire as CEO of Berkshire Hathaway at the end of this year. He\u2019ll be 95. The average retirement age<\/a> in America is 62, according to a 2024 MassMutual survey<\/a>. So, for the average person, waiting to retire until they\u2019re in their 90s might seem extreme.<\/p>\n

But for founders and CEOs, delaying retirement for years or even decades beyond the norm isn\u2019t so unusual. The standard retirement age may also be on the rise. The U.S. Bureau of Labor Statistics<\/a> predicts that the number of people 75 and older in the workforce will increase by 96.5% through 2030.<\/p>\n

Read Next: Warren Buffett\u2019s Top 4 Tips for Getting Richer<\/a><\/strong><\/p>\n

Find Out: 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth<\/a><\/strong><\/p>\n

So will working to 90-plus eventually become the norm? What are the financial benefits of working this long? What are the drawbacks? Here\u2019s what the experts say.<\/p>\n

Also see four ways debt is forcing older Americans to delay retirement<\/a>.<\/p>\n

For those who are impassioned about their work, retirement might not be in the cards. It\u2019s not because they can\u2019t afford it, but because they simply choose not to stop.<\/p>\n

\u201cWarren Buffett may be the exception, not the example \u2014 but his longevity in leadership sets a tone we shouldn\u2019t ignore,\u201d said Hanna Kaufman, a CFP at Betterment<\/a>. \u201cWarren Buffett isn\u2019t working until 94 because he has to, he\u2019s doing it because he wants to.\u201d<\/p>\n

Other high-profile individuals who are still working in their later years<\/a> include Ellen Gordon (CEO of Tootsie Roll Industries) and Bernard Francis Saul II (CEO of Saul Centers). Both are in their 90s.<\/p>\n

Kaufman said it\u2019s not likely that working until 90 will become the norm. But for some CEOs, founders and investors, it certainly might be. This is due to a combination of purpose, sense of identity and intellectual challenge.<\/p>\n

However, not everyone can keep working until they\u2019re 90 years old, even if they want to. Emotional and physical well-being play a major role in determining whether it\u2019s even possible to keep active in the workforce.<\/p>\n

Check Out: Warren Buffett Offers One Piece of Estate Planning Advice to the Middle Class<\/a><\/strong><\/p>\n

Buffett has an estimated net worth of almost $143 billion. But for many Americans, the cost of living necessitates working longer than ever before.<\/p>\n

Even if you retire before your 90s, delaying retirement<\/a> can be highly financially beneficial. For example, waiting to collect Social Security until you\u2019re 70 will increase your monthly benefit amount by 32%. As an added benefit, working longer means higher potential retirement savings.<\/p>\n

Story continues <\/p>\n

\u201cEarning for longer, for example, $80,000 a year, can make quite a difference in the size of savings, particularly with compound interest in a 401(k) account,\u201d said Seann Malloy, founder and managing partner at Malloy Law Offices<\/a>.<\/p>\n

If you have an employer-sponsored retirement account<\/a> \u2014 like a 401(k) \u2014 you can also hold off on taking required minimum distributions (RMDs) while your money grows tax-deferred. The exception is if you own 5% of the company.<\/p>\n

Notably, you\u2019ll need to withdraw a certain minimum amount from other retirement accounts when you turn 73. This includes traditional IRAs, SIMPLE IRAs and SEP IRAs. Roth IRA owners can keep contributing while they\u2019re working without taking those RMDs.<\/p>\n

Plus, the longer you work, the longer you can hold off on using those retirement funds. This can ease any financial burden when you retire.<\/p>\n

Last but not least, there are healthcare costs to consider<\/a>. Continuing to work can help combat these costs. \u201cContinued employment may also allow you to keep access to employer sponsored health coverage, which can significantly reduce out of pocket medical costs,\u201d Kaufman said. \u201cThese assumptions hinge on the assumption that you\u2019re healthy enough to work and have a job that allows for that kind of longevity.\u201d<\/p>\n

Even with the retirement age on the rise, it\u2019s unlikely that people will soon be forced to work until they\u2019re in their 90s. But that doesn\u2019t mean early \u2014 or even on-time \u2014 retirement is always a possibility.<\/p>\n

\u201cFor some, working longer may be a choice \u2014 but for many, it\u2019s quickly becoming a necessity. Between rising healthcare costs, inflation, and the decline of traditional pensions, the financial pressure to delay retirement is real,\u201d Kaufman said. \u201cWhile some work longer for purpose or passion, others are doing it simply to stay afloat.\u201d<\/p>\n

Don\u2019t wait to start planning. The sooner you start saving and investing<\/a>, the better your chances of retiring when you want to.<\/p>\n

More From GOBankingRates<\/strong><\/p>\n

This article originally appeared on GOBankingRates.com<\/a>: Warren Buffett Is Retiring at 94: Will Working at Age 90-Plus Become the Norm?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Warren Buffett recently announced that he plans to retire as CEO of Berkshire Hathaway at the end of…\n","protected":false},"author":3,"featured_media":64363,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,45864,255,700,696,67,132,68,4327],"class_list":{"0":"post-64362","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-hanna-kaufman","10":"tag-personal-finance","11":"tag-retirement","12":"tag-retirement-savings","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us","16":"tag-warren-buffett"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114850568825385639","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/64362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=64362"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/64362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/64363"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=64362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=64362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=64362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}