Well over half of Americanworkers surveyed (57%) anticipate that they will work beyond thetraditional retirement age of 65 or never retire at all.
The finding was uncovered in a recent Swiss Re survey timed tocoincide with the beginning of National Save for Retirement Week.
|The survey cements the growing realization by many Americans ofa retirement landscape markedly different from that of generationsprior.
|“Americans are starting to recognize that livinglonger will require a shift in retirementplanning. For many Americans surveyed, 70 isthe new 65,” George Graziani, Head of Longevity North America forSwiss Re said in a statement.
|Less than one quarter (22%) of Americans anticipate retiringbefore 64. Meanwhile, 78% of respondents in China, 45 percent ofrespondents in Hong Kong and 42% of respondents in Brazil believe they will retire before age 64.
|Thirty-eight percent of respondents in all markets surveyedforesee retiring before the age 64.
|Possibly as a result of having their nest eggs ravaged by theGreat Recession or missteps on the path from defined benefit plansto defined contribution plans, 12 percent of U.S. surveyrespondents said they would never be able to retire while 21percent reported that they would not guess when their working liveswould end. Nineteen percent of U.S .respondents – more thanany other market surveyed – believe that they will be working atleast until the age of 70.
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