A lot of people were dogging
@benshapiro for this clip. But putting aside the debate over the Social Security retirement age, there's a lot of wisdom in the idea of rejecting retirement.
Apparently one of Dave Ramsey's influences was Rabbi Daniel Lapin, who wrote a book called Thou Shall Prosper that contains a chapter called "Never Retire".
I'm told there's a strong streak in Judaism that rejects retirement. How universal that is, I don't know, but I frequently see Jewish people argue against retirement. For example, Sir George Iacobescu, the 78 year old businessman who was a prime driver behind Canary Wharf in London, told the FT, that retirement is “overrated . . . You work and then you die.” (That guy has an incredible life story, by the way).
There's a lot of wisdom in this.
Among the benefits of adopting the idea that you will stay productive your entire life, or at least as long as possible.
1. Your ability to make a positive impact on the world is greatly enhanced by simply spending more time doing it.
2. You'll have a greater sense of purpose in life, rather than be like those people, typically men, who fall into depression after retiring because it seems like they no longer have something that gives their life significance.
3. Rather than draining your savings, you'll be adding to it and compounding growth for an additional 15-20 years or more. Think about what that means about the legacy that you can leave to your children and grandchildren.
Obviously, people in physically demanding careers can't keep doing that forever. I'm not saying you can't ever leave your job or even stop getting paid. But you can at least resolve to stay productive. One "retired" person I know here is a full time volunteer leader at his church, for example. I know some "retired" Boomer women who spend large amounts of time helping with grandchildren.
Also, not retiring doesn't mean clinging to the reins of power until you die. We see the problems of a gerontocracy all around us. But there are ways to shift into an elder statesman or "chairman" type role and let younger folks be the CEO. Former Indiana Congressman Lee Hamilton, the 4th ranking Democrat in the House, retired around age 67, but then continued being very active in such things as co-chairing the 9/11 Commission.
I'm definitely not one of these people who says we should get rid of Social Security or anything like that. But the mindset of "never retire" is one that definitely should be more widely embraced. It has immense power, and could be life transforming for your descendants.