Nevertiree: A wealthy person who chooses never to retire but rather to pursue a life of nevertirement.
A global survey of 2,000 high-net-worth people, conducted by Barclay’s Wealth, found that 60 percent of rich people in the United Kingdom “want to keep working and will never retire.”
The findings show that the concept of Nevertirement is expected to become more popular over the coming years, with 70% of respondents under the age of 45 saying that they will always be involved in some form of work. Whilst a desire to remain in work might be expected to chime with business owners and entrepreneurs, the findings apply to all wealthy respondents, with 57% of those who inherited their wealth saying they too will continue working in later life.
High net worth was defined as having investable assets of £1 million or the equivalent.
The U.K. leads the way among developed economies in the percentage of nevertirees-to-be, followed by Ireland (59 percent), Monaco (58 percent), United States (54 percent), and Spain (44 percent).
The study made no mention of the other category of nevertirees—people who will keep working forever because they can’t afford to retire.
Nevertiree and nevertirement appear to be very new words, possibly coined by Barclay’s. The earliest citations I found were dated September 26, 2010, and they all refer to the Barclay’s Wealth report. (You can read the complete report, “The Age Illusion: How the Wealthy Are Redefining Their Retirement,” here.)
Nevertiree is included a glossary of recession-era words and phrases posted last week in the Time blog “It’s Your Money.” Other terms include accidentally retired, reluctant breadwinner, and burrito factor (“a means for analyzing an item's value, in which the cost of the item is measured by how many burritos you could buy with the same money”). One of the words on the list, 99er, was a Fritinancy Word of the Week in August.
Hat tip: Schott’s Vocab.