Seven of 10 Americans plan to work in retirement
by Rodney Brooks for The Washington Post
September 2016
“When it comes to retirement, a whopping 75 percent of Americans say they plan to work ‘as long as possible’ in retirement, according to a new report from Bankrate.com. And for many of them, it’s not because they love their jobs:
- 38 percent say they are planning to work because they want to
- 35% percent say they plan to work because they need the money
- 27 percent said they plan to work because they need the money and want to work
And according to the Bankrate.com survey, 47 percent of retirees are either very worrried or somwhat worried about outliving their retirement savings. That’s up from 37 percent the last time that question was asked, in 2009.
What’s almost shocking? Only 25 percent said they had no plans to work during retirement.
A reality check for most people planning to work through retirement: Most surveys show that even though a majority of Americans plan to keep working, most find they cannot because of health issues, layoffs or because they have to care for spouses or parents.”
“Rodney A. Brooks writes about retirement and personal finance for The Washington Post. Rodney has had a long and distinguished career in financial journalism. He previously worked at USA Today from 1985 until his recent retirement.”