Apr 14: BEST FROM THE BLOGOSPHERE

April 14, 2025

In the U.S., these millionaires see no need to retire

We all imagine the dream of suddenly having millions in the bank — and being able to instantly leave the workforce for a life of travel, leisure and fun.

But according to Business Insider, there are more than a few folks south of the border who – despite already having made those millions – plan to keep working into their 80s and beyond.

What? Let’s hear out their thinking.

“Many older Americans continue working into their retirement years, even though they’re millionaires,” the Business Insider article begins. And while many keep working “for financial reasons,” others just “want to keep their minds fresh and social lives full,” the article continues.

Jack Bishop, an Air Force vet and five-decade veteran of the restaurant industry, says he could have retired early, but chose not to. “My plan was to be retired at 55, but I felt like I was in my prime, and we were doing great,” Bishop tells Business Insider. “I wanted to keep my mind alive.”

Lawyer and real estate investor Michael Mosher, 74, is still hard at work running his 300-acre ranch in Texas, the article notes.

“You need to do something productive that engages your mind and body,” Mosher tells Business Insider. “As long as my brain holds up and my back and knees don’t go away, I’ll be a lawyer or rancher. I have the ability now to control my docket with the lawyer part so that I can run the ranch and not vegetate.”

Florida’s Anne Sallee tried retirement, but re-entered the workforce in her 60s, the article tells us.

“I consulted for free and volunteered in my community, but I can vividly remember the first time the doctor’s office asked me if I was retired, and I said yes. It was a painful moment,” Sallee tells Business Insider. She returned to the workforce after a two-year hiatus and now works as her city’s economic development coordinator.

“I had to be up and dressed at a desk at 8 every morning, which was a shock to my system,” Sallee states in the article. “I was used to a little more flexibility in my day, but I’ve been here now two years, and I absolutely love it.”

Deb Whitman, the American Association of Retired People’s chief public policy officer, tells Business Insider that “the number of people 55 and older who work or seek work is twice as high as in the 1990s, with Americans overall working longer.”

“One thing you’re seeing about people working longer is this fear of holding onto the job that they have because they might have lost one before or fear that they’ll be pushed out any day,” Whitman tells the publication.

We would estimate that about half of our old high school classmates, now in their mid-60s, are still on the job. The rest are either fully or semi-retired, doing other things. Building a retirement savings nest egg is certainly a factor in figuring out, one day, whether you can ease out of full time work into a part-time or consultant-type role – or to volunteer, or learn something new.

A great savings partner to know about is the Saskatchewan Pension Plan. With SPP, you decide how much to save, and how to get the savings to us – it can be preauthorized contributions from your bank account, it can be by cheque, it can be by a lump sum transfer and it can even be via credit card. We’ll take care of your money’s future by investing it in a low-cost, professionally managed pooled fund. When it’s time to ease out of your role, you’ll have income options that include a lifetime monthly annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

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Business Insider

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