More people are putting off retirement until later in life


If you’re approaching the age of 65, you might be thinking about retirement. The key words there are ‘Might be.’ Because retiring at 65 is becoming a thing of the past.

Thirty percent of American workers over the age of 60 don't expect to retire until they are 70. Some told us they don’t expect to retire until long after they hit 70.

“Hopefully in about five years, when I’m 75. I have a lot of bills and help for finances with my kids,” one woman explained to KTRH News.

Another 20% say they don't think they'll ever be able to retire. Financial expert Leonard Raskin told KTRH this is more the norm than you'd imagine.

“The ones that think they won’t retire until 70 or never retire are probably more realistic than those that actually think they will,” Raskin stated.

So what's going on? Why can’t we retire at 65 these days? Raskin says there are multiple answers.

“It’s a difficult proposition. People aren’t financially prepared for it, and most aren’t preparing well for it,” Raskin explained.

To prove that point, another survey says only 1 in five of us are very confident our money will last as long as we do in retirement.


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