Many of us look forward to retirement. But as typical baby boomers, we actually don’t like the idea of bagging our careers in our mid-60s. And then some of us don’t really have the resources to quit working anyway.
But what do the people around the world say about retirement? Willis Towers Watson did a survey of employees of all ages and found:
• 23% plan on being employed and working in their 70s.
• That’s up from 16% in 2009.
• The average person polled say they think they’ll retire at 65.
• But half — an exact 50% — think the odds are they’ll be working to 70 or above.
• Some think it could be 80 or over.
The study checked in with 30,000 people all over the world, with 5,100 of those surveyed in the United States. It found those expecting to work longer — quoting — “were less healthy, more stressed and more likely to feel stuck in their jobs than those who expect to retire earlier.”
• 40% of those thinking they’re going to work past 70 feel stuck in their jobs.
• That compares to 28% of those expecting to retire at 65 feeling the same way.
Willis Towers Watson senior economist Steve Nyce said, “The decline of defined benefit plans and employer subsidies for early retirement removed one tool that encouraged that orderly rate of workers retiring.”
Here’s more. In the U.S. 76% agreed or strongly agreed that they’re worse off in retirement than their parents’ generation.
Source link: Employee Benefit News