Seniors Say They Don’t Expect To Be Able To Retire

According to the latest study from the Employee Benefit Research Institute, older Americans not only expect to work longer, many don’t expect to retire at all. In 2006, 1.7 percent of workers over the age of 50 said they planned to retire by age 80. By 2010, that percentage had risen to 5.2 percent and the number of those workers that said they never planned to retire reached 16.3 percent. Sudipto Banerjee, EBRI research associate and author of the study, said the general trend shows that older Americans are expecting to retire later. But, according to Banerjee, the most striking statistic is that nearly 20 percent expect to never stop working and an additional 15 percent said they don’t know when they would be able to retire. The EBRI study looked at data from the University of Michigan’s Health and Retirement Survey during the period between 2006 and 2010. More here.

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