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According to a recent survey published by the John J. Heldrich Center for Workforce Development at Rutgers University, more Americans are planning to work beyond retirement age due to lack of savings which won't allow them to stop working. This includes 12% who believe they will never be able to retire, and increase of 5% from five years ago.
The survey found that nearly 70% of Americans plan to work full- or part-time after they retire. Of those, the number who will be working after retirement for purely economic reasons doubled to 6% from 5 years ago, while those that will work part-time after retirement due to financial necessity rose from 10% to 18% during the same five year period. One in four were "very confident" they could retire when they want, a decrease of 4% from five years earlier.
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The survey also found that only 13% or workers expect to stop working completely. While some plan to work part time to pursue their own interests, the percentage of those planning to do so dropped 15% since the previous survey to only 27%.
Nearly 4 out of 10 people do not believe Social Security will still be available when they retire with 39% believing they will have to be primarily responsible for their own retirement income. Despite this, 35% said they do not save any money to supplement Social Security according to the survey.
The survey found that nearly 70% of Americans plan to work full- or part-time after they retire. Of those, the number who will be working after retirement for purely economic reasons doubled to 6% from 5 years ago, while those that will work part-time after retirement due to financial necessity rose from 10% to 18% during the same five year period. One in four were "very confident" they could retire when they want, a decrease of 4% from five years earlier.
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The survey also found that only 13% or workers expect to stop working completely. While some plan to work part time to pursue their own interests, the percentage of those planning to do so dropped 15% since the previous survey to only 27%.
Nearly 4 out of 10 people do not believe Social Security will still be available when they retire with 39% believing they will have to be primarily responsible for their own retirement income. Despite this, 35% said they do not save any money to supplement Social Security according to the survey.
but that is a YET! I will, soon as I get the CC paid off.
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