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Poll Shows Financial Uncertainty Delaying Retirement Plans

October 14, 2009 by  

Poll shows financial uncertainty delaying retirement plansA new survey released by Bankrate, a network of companies providing information about personal finance, has shown a majority of working Americans plan to stay on the job as long as they can during retirement age.

Specifically, it found that 75 percent of respondents plan to continue working past the official retirement age, of whom 39 percent declare they will do so because they enjoy work while almost one-third are motivated by financial reasons.

Moreover, a total of 55 percent of retirees said they worry about money and wish they had saved more for their old age, as opposed to only 38 percent who believe they have enough to retire comfortably.

"[The fact that] 75 percent of today’s generation plan to work as long as possible [is] a far cry from previous generations," says Julie Bandy, editor-in-chief at Bankrate.com.

"Falling home values and losses in retirement accounts are forcing many Americans to re-evaluate their retirement needs," she adds.

The study also found that although so many people plan on working through retirement age, only 15 percent of retirees surveyed are currently employed.
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