Finance Faculty Providence College, Financial Advisor with leadership experience in Managing Director and Executive Director roles at several Wall Street firms (JP Morgan Private Bank, UBS, Lehman Brothers, Piper Sandler). Senior Wealth Advisor, Chief Investment Officer (Sandy Cove Advisors).
Fortune April 5, 2023
You can also explore money market accounts or even money market mutual funds, which is what Robert Reilly, a finance faculty member at the Providence College School of Business, currently recommends. “They offer rates substantially higher than bank savings accounts and CDs,” he says. Keep in mind, however, that even low-risk investments like money market funds can still lose money if the market is down.
Why People Return To Work After Retiring
There are many reasons to return to the labor force during your retirement years. Do any of these ring a bell with you?
Robert Reilly, a member of the finance faculty at the Providence College School of Business says, “The decision to go back to work mainly depends on three items:
Do you want to?
Is there a meaningful second career that you’ll enjoy?
Do you have to make ends meet?”
Forbes/ Reverse Mortgage Daily
Raising the retirement age would be a harder sell to today’s seniors, particularly those at or near retirement, according to Robert Reilly, a finance faculty member at the Providence College School of Business.
“Those against the raising of the retirement age say that any extension is a clear benefit cut and a broken promise on the part of their government,” Reilly told Forbes. “[T]he flexible option of retiring with reduced benefits at age 62 could be eliminated. There is quite a bit of debate as to whether the US population’s average mortality rate is on the rise or waning. Many retirees may not feel that they will have many golden years in their late 60s, never mind into their 70s.”