Graduating from college and landing a job does not guarantee a financially stable future. The key is that you study and exercise a well-paid career with high valuation rates in the job market. According to the U.S. Census Bureau, the median retirement age in the United States is 65 for men and 63 for women.
In this article, we help you define your goals to choose the career path that will ensure your long-term success. Below, you will read facts about the careers you need to know about to plan your early retirement. Pay close attention to important aspects like salaries, the main roles of the job, benefits, and retirement age.
Computer Programmer and Support Specialist
Average Annual Salary: $65,264
One of the professionals with the best savings capacity is a computer programmer. According to calculations, these tech experts can accumulate a financial wealth of more than $540,000. Additionally, the demands of projects in the tech industry grow so much that programmers choose 65, 66, or 67 as the retirement age.
Average Annual Salary: $70,250
According to studies, this industry benefits its professionals with an income that allows them to save more than $ 567,000. However, the mental effort, labor, and time that industrial engineers must invest lead them to retire at an average age of between 65 and 66 years.
An industrial engineer is responsible for coordinating plants and assembly lines production processes. Other tasks in this career include reviewing production schedules, engineering specifications, process flows, and additional information. This professional applies technical methods to manufacturing products, parts, and services.
Average Annual Salary: $80,687
Surveys show that psychology professionals will be able to accumulate, on average, savings close to $500,000 for their retirement, between 65 and 67 years old. The field of psychology is one of those that demands high working hours due to the special attention that each patient requires.
On the job, you’ll be conducting scientific studies of behavior and brain function, observing, interviewing, and surveying patients. The main role is to identify psychological, emotional, behavioral, or organizational issues and diagnose disorders.
Insurance Sales Agent
Average Annual Salary: $39,470
According to estimates, one of the great advantages of this job is that it helps build a savings fund of more than $420,000. The high levels of responsibility, dedication, and busy schedules in insurance sales record an average retirement age of 65 years or more.
An insurance sales agent must summon potential clients to expand their customer base, interview prospective clients to obtain financial resources, and propose life, medical, or accident insurance coverage. Furthermore, another key task of this job is to explain to clients the scope of their insurance policies.
Why Might People Work Beyond Retirement Age?
According to the U.S. Census Bureau, the high cost of health insurance and declining employer retiree health benefits are the main factors that motivate Americans to work after retirement, even with savings. Another key reason is the increase in retirement years as life expectancy grows in the country and the desire to accumulate more Social Security benefits or other protection.
Technical, technological, and health science careers are the best jobs to obtain high income and a good savings fund for your retirement. In a society where the culture of work is well established, the indicators of economic well-being are satisfactory. This results from knowledge, preparation, and good personal finance management.