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Most people alive today will never be able to retire.
Almost half of all Americans report having no dedicated retirement accounts at all, and rising living costs means that millennials will need more than a million dollars saved to retire comfortably. It’s a bleak outlook for most people who will probably be working in some capacity until the day they die.
But there are people with enough money to live several lifetimes in extreme luxury without ever needing to work again… and yet they still chose to work, even at the expense of their health, their family life and worst of all… their own net worth…
So what is stopping so many billionaires from retiring? According to Bloomberg, the average age of a global billionaire is now 63 years old, and it’s slowly getting older every year, as wealthy people live longer and longer lives. Male billionaires are slightly older at 63.7 years and female billionaires are on average 62.4 years old.
Female billionaires have a longer life expectancy than male billionaires but they still trend younger because several have been the beneficiary of an inherited estate or divorce settlement at a younger age. Forbes has also now reported that there are NO billionaires under the age of 30 that are self made… all of them have inherited their wealth.
As billionaires are getting older and richer, an ever increasing number of them are also working well into their twilight years. You might think that they are just obsessed with accumulating more wealth. The mental state of billionaires who just need more is a factor that we will get to soon, but for some of them, they would actually be even richer if they took a step back and just enjoyed their wealth.
So it’s time to learn How Money Works to find out the three reasons why billionaires refuse to retire.
