Most Americans Expect to Work Past ‘Retirement Age’
December 30, 2019
The standard age for retirement has traditionally been 65. While changes to Social Security have gradually edged that number higher, most Americans have long seen 65 as the age that one will stop working. However, the majority of Americans expect that they will have to wait until they are older than that to retire, if they retire at all.
A recent survey from the Transamerica Center for Retirement Studies found that the majority of Americans anticipate that they will not retire until they are older than 65, or not retire at all. Just 24 percent said they will likely retire at 65, while 22 percent expect to retire earlier.
More than half, 55 percent, of workers said that they plan to continue to work, either full- or part-time, after they are retired. Most of the respondents cited financial concerns for the continued work, but many others pointed to social reasons, such as avoiding boredom or isolation.