OK, here’s the news of the day: No longer will Americans be able to work until a predetermined age, whether that age be 55 (yeah, right) or even 65.
There is a new world order, so to speak, and pretty much everyone will be rolling up their shirtsleeves and keeping them rolled up for a long, long time. Don’t believe me?
Check out this report that hit the SMA edit desk: These latest statistics show most Americans believe they will not be able to afford retirement anytime soon. The annual Retirement Confidence Survey, conducted by Matthew Greenwald & Associates, found that only 13 percent of respondents feel very confident that they will enjoy a comfortable retirement, the smallest percentage since the survey began in 1993.
Respondents expect to work longer due to the economic downturn, with 28 percent of workers reporting that in 2009 they pushed back their expected retirement date. Furthermore, 89 percent of those who are delaying retirement indicated they would do so for financial reasons.