How Many Workers Are Postponing Retirement? Why?

How many workers are delaying retirement, and what are their reasons for doing so? [4 April 2011]

  • “Twenty percent of workers in the 2011 Retirement Confidence Survey (RCS) say the age at which they expect to retire has increased in the past year. Statistically, this is similar to the percentage indicating they were planning to postpone retirement in 2010 (24 percent). The poor economy (36 percent) and a lack of faith in Social Security/government (16 percent) are the most frequently cited reasons for postponing retirement, followed by changes in employment situation (15 percent) and can’t afford to retire (13 percent).”
  • “44% of Americans born between 1946 and 1965 are not confident that they’ll have enough money to live comfortably in retirement, according to a new Associated Press-LifeGoesStrong.com poll. More than half (57%) say they lost money during the recent economic downturn and many who were affected (42%) say that’s why they’re delaying their retirement.”
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