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.”