Looks Like 40% Will Never Retire

The recent study, “Working in Retirement”,  from  the Society of Actuaries says that a third of adults do not expect to retire. A third is a lot. There are 76 million Baby Boomers… 1/3 = 25 million folks that will be hanging around.

This number is up 29% from two yeas ago and the increase is significant. More than 4 in 10 say that they cannot retire because they need the bucks and, in many cases, the employer benefits.

Uncertainty – about life-expectancy and the money required to also plays a major role in per-retirement planning.

“Current trends in retirement indicate that people may need to work longer than they originally planned,” said actuary and retirement expert Carol Bogosian, ASA. “Individuals often have a difficult time estimating how long they can expect to live, how much they will earn on their investments and how much they can spend each year to avoid running out of money. In fact, many people are just guessing about how much money they will need in retirement.”

 

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One Comment

  1. Joel Sackett
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    I feel like I’ve been semi-retired since this recession began. And I think I like it. I’ll probably never be as busy as I once was, but always work as a photographer on select opportunities. I’m already kind of downsized, and if my wife works a little bit too, and my kids don’t need any further financial help, we might be ok? (I’m an optimist.) Now if I didn’t like my chosen field as much as I do, then I’d be anxious about full retirement and how to afford that. I’ll keep knock-knockin’ on wood until I’m 75, then I might see the Boomercide proposal in different light.

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