than 4 in 5 older Americans expect to keep working
during their later years, a sign that traditional
retirement is out of reach for a vast swath of society,
according to a new survey.
Americans ages 50 and older who currently have jobs, 82
percent expect to work in some form during retirement,
according to the poll by the Associated Press-NORC
Center for Public Affairs Research.
other words, "retirement" is increasingly
becoming a misnomer.
survey illuminates an important shift in Americansí
attitudes toward work, aging and retirement," said
Trevor Tompson, director of the AP-NORC Center.
"Retirement is not only coming later in life, it no
longer represents a complete exit from the
survey polled 1,024 people ages 50 and older.
still-sluggish economy, battered 401(k) retirement
plans, and inadequate savings are upending traditional
notions of retirement.
in an expected increase in lifespans, and the result is
a generation of workers facing dim financial prospects
for what used to be known as the golden years.
pensions and homes, 39 percent of survey respondents
said they have $100,000 or less saved for retirement.
Nearly one-quarter have less than $10,000.
despite conventional wisdom, people canít count on
simply working until they drop.
of retirees say they didnít have a choice in the
decision to leave the workforce, the survey found.
other words, many were pushed out by ill health or
layoffs. Among retirees younger than 65, the figure is