Poll: Half of older workers delay retirement plans

[Omaha Steve]

Source: AP-Excite

By MATT SEDENSKY

CHICAGO (AP) - Stung by a recession that sapped investments and home values, but expressing widespread job satisfaction, older Americans appear to have accepted the reality of a retirement that comes later in life and no longer represents a complete exit from the workforce. Some 82 percent of working Americans over 50 say it is at least somewhat likely they will work for pay in retirement, according to a poll released Monday by the Associated Press-NORC Center for Public Affairs Research.

The survey found 47 percent of working survey respondents now expect to retire later than they previously thought and, on average, plan to call it quits at about 66, or nearly three years later than their estimate when they were 40. Men, racial minorities, parents of minor children, those earning less than $50,000 a year and those without health insurance were more likely to put off their plans.

"Many people had experienced a big downward movement in their 401(k) plans, so they're trying to make up for that period of time when they lost money," said Olivia Mitchell, a retirement expert who teaches at the University of Pennsylvania.

About three-quarters of working respondents said they have given their retirement years some or a great deal of thought. When considering factors that are very or extremely important in their retirement decisions, 78 percent cited financial needs, 75 percent said health, 68 percent their ability to do their job and 67 percent said their need for employer benefits such as health insurance.

FULL story at link.


Read more: http://apnews.excite.com/article/20131014/DA9DPQHO2.html

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In this Wednesday, Oct. 9, 2013 photo, graphic designer Tom Sadowski, 65, who delayed his retirement, works from home in Sterling, Va. Older Americans appear to have accepted the reality of a retirement that comes later in life and no longer represents a complete exit from the workforce. Some 82 percent say it is at least somewhat likely they will work for pay in retirement, a poll by the Associated Press-NORC Center for Public Affairs Research finds. (AP Photo/Manuel Balce Ceneta)

[NBachers]

1. I'll be 65 in April; I'll stay at our local hardware/lumber store 'till 70, at least, if I can

It's just an economic reality. I can't afford to retire.

[Madam Mossfern]

2. I have a retirement "countdown clock"

on my computer at work. It was set for October1,2014. I'm going to reset it for another three years. It's either that or we sell our home. I turned 65 last month.

[Capt13]

5. I've reset my retirement clock

From 2021 to "Drop dead in my tracks"

[antigop]

3. this is what happens when you get rid of defined benefit pensions and unions decline nt

[Auggie]

4. And to think my father retired at 55

GM worker. He was salary, but received the Union benefits of hourly workers.

Unions are good.

[dotymed]

7. Unions are great.

The propaganda and laws have practically eliminated them is
no great surprise in this Bizarro country run by the elite
whose interests (as long as they have no foresight) seem to
be the opposite of average Americans.
Sadly, if these "captains of industry" had patriotism and the well being of their workers
(which affects them) in mind, they too would be Unionized.

Instead, the idiots are blinded by short-term greed and the knowledge
that, for now, they can hire 3rd world workers to increase their profits.

Many others want to just bring the 3rd world here and are successful in
their endeavors.
They just wreck America, buy everything at fire sale prices and reduce Americans to serfs.
Sadly, "our" SCOTUS has given them the go-ahead by claiming corporations are people
and their money is speech. How undemocratic and nation destroying is that?
Luckily for them, many European and other countries protect their workers with Unions
and laws that protect their people. Of course, that is Democracy.

[sweetapogee]

6. I really love my job

so hopefully I will be at work the day I die. Still, I'm taking classes at my local Community College and should have another degree in about 6 years, this will be my third degree... a B.S. in Medical Lab Technology. I want to stay both physically and mentally active for as long as possible.

[RebelOne]

8. I worked until I was 71.

I am 74 now and would still be working if I hadn't been forced into retirement by a layoff.

[TygrBright]

9. "Retirement?" What retirement? We aren't gonna get to retire. n/t

[Psephos]

10. A blessing in disguise, perhaps, for those who are able-bodied and able-minded.

Retirement is attractive only if your work was unfulfilling.

Challenge and a sense of purpose are basic human needs. We wither physically and mentally without them.

[freebrew]

11. Great if they have a job...

unlike some of us thrown under the bus as a result of * administration redefining age discrimination.
As: there is no such thing.

So, the company I worked for fired 40 people over 50.

When 62 came, I went for it. I'll deal with bills as they come up.

Not sure how, it's next to impossible to get a job in this state if you're over 50.