Many public corporations issue stock purchase plans for their employees. Others have a match program where for each percentage that the employee contributes, the company will deposit an equal percentage of company stock into their retirement account, sometimes at a discounted rate.
In years past, we have all heard the tall stories about the average Joe getting to retire rich on company
Back in the early nineties, I wrote a book called, RETIREMENT READY OR NOT: How to Get Financially Prepared in a Hurry (Career Press). At the time, the news was filled with reports of corporations folding, downsizing or merging, forcing employees all over the country to accept early retirement long before they expected.
With the decline of the financial markets, many workers between the ages of 50 and 65 are asking their financial advisors if they should rethink the start of their retirement. The answer, of course, is that it depends. But certainly the considerations that apply to most everyone would be that by holding off allows you to 1) wait until the financial recovery is underway and your investments start to return to their earlier values and 2) buy into the market at low prices and take advantage of any upswing, thereby making up for some of your losses.
Here are some other smart reasons to delay retirement in this economy:
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