Tuesday, July 9, 2019

25% Working Americans Don't Plan to Retire

Do you plan to retire?  If you answer is no, you aren't alone. According to a recent poll in the Associated Press, almost 25% of folks plan to keep work. Poll: 1 in 4 don’t plan to retire despite realities of aging found a possible "disconnection between individuals’ retirement plans and the realities of aging in the workforce." The realities of life ... and aging... "often force older workers to leave their jobs sooner than they’d like."  The article notes things like caregiving and health as reasons that cause folks to leave employment.  In addition to this nearly 25% who plan to keep working, which "[includes] nearly 2 in 10 of those over 50.... [r]oughly another quarter of Americans say they will continue working beyond their 65th birthday."

The article contains data regarding the impetus to keep working (including financial needs) and the perceptions among those in the workforce regarding the continued employment of older workers:

39% think people staying in the workforce longer is mostly a good thing for American workers, while 29% think it’s more a bad thing and 30% say it makes no difference.

A somewhat higher share, 45%, thinks it has a positive effect on the U.S. economy.

Working Americans who are 50 and older think the trend is more positive than negative for their own careers — 42% to 15%. Those younger than 50 are about as likely to say it’s good for their careers as to say it’s bad.

However, desire and reality aren't always a match. The article also discusses reasons why folks who want to keep working have to leave the workforce.

Thanks to Professor Naomi Cahn for sending me the link to the story.

https://lawprofessors.typepad.com/elder_law/2019/07/25-working-americans-dont-plan-to-retire.html

Consumer Information, Current Affairs, Other, Retirement, Statistics | Permalink

Comments

Post a comment