The U.S. division of Sun Life Financial Inc. released the latest edition of its “Unretirement” Index on Oct. 22, revealing some interesting – and of course (these days) scary – findings.
For instance, 65% of American workers will delay their retirement by at least one year – an 11% increase since the end of 2008. The index also indicated that 27% of Americans now believe they will need to work at least five years longer than expected because of the current economic environment.
Looks like there will be plenty of available tee times on the golf courses of Florida and Arizona for the foreseeable future.
More people are planning on working past 67, which may soon lose its short-lived status as the “traditional” retirement age to 70, which looks to be the “new 65.” Of those surveyed, 55% say they will work full- or part-time at 67, and another new high of 28% across all age groups are planning to work full-time past 67.