Wednesday, August 21, 2013
Retirement at 65 is no longer a realistic option for many adults. According to a recent Gallup survey, 37% of workers expect to retire after age 65, up from 14% in 1995. Only 26% hope to retire before age 65, down from 49% in ’95.
The reasons for pushing back retirement age vary. Some enjoy their work while others need more time to save, become eligible for Medicare, or wait for Social Security payments.
Even though workers are trying to wait longer, the average retirement age is 61, which is up from 57 in 1991.
See Emily Brandon, What’s the Ideal Retirement Age?, MSN Money, Aug. 13, 2013.