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Too rich to retire

While many of us dream of having enough money to retire before we are 70, the most wealthy individuals say that they will never stop working, according to a survey from Barclays Wealth (external website).

The report reveals that wealthy individuals (with more than £1 million in investable assets) in the UK are most likely to say that they want to keep working and never retire. The research found that 60% of respondents in the UK do not plan to stop working, compared with 54% in America, 46% in Japan and just 34% in Switzerland.

The report calls these people "nevertirees", although it also points out that many choose slightly different types of work as they get older: "The wealthy are using the later years to re-examine their options with regards to work, looking for different careers and positions, often moving from the role of execution and control to that of influence."

So if you want to retire before you are 70, time to stop accumulating those assets!

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Sheila Attwood | |

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