Many Americans Say They Can't Retire Until Their 70s or 80s

Well, I'll keep working until I'm at least 65.

I'm going to need the money!

At the Los Angeles Times:

It’s the new retirement: More than four in 10 Americans think they’ll have to work into their 70s or 80s because they can’t afford to retire, according to a new survey.

One in 10 people expects to toil into their 80s, while 32% expect to be on the job into their 70s, according to the report by insurer Northwestern Mutual.

On average, those surveyed expect to leave work at age 68. However, the report points out, that doesn’t jibe with reality.

The mean age of those already retired is 59, the study said.

An increasing number of people figure they’ll simply work longer to make up for inadequate nest-egg savings these days, not realizing how layoffs, poor health or other forces pushed their forebears out of the workforce far sooner than they wanted...

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