Most expect to retire later

Gallup

Americans now expect to work longer

If the date you expect to retire seems to be getting further away rather than closer at hand, join the club.

The average age at which Americans expect to retire has been steadily creeping up since the mid-1990s, and has now reached 67 years old, according to a new Gallup poll.

That’s up significantly from 1996, when people expected to retire at age 60.

The results are consistent with other recent research into the topic, and show that Americans’ retirement plans have been dealt a significant blow thanks to the recession, financial crisis, high unemployment and housing bust.

Still, younger workers are more optimistic than their older peers.

Gallup’s annual Economy and Personal Finance survey, which was conducted in mid-April, found that people who are currently under age 40 expect to retire at age 65. Those who are 40 and over, and not yet retired, expect to retire at 68.

As with many things, the expectation is outpacing the reality. Among retirees, Gallup found that the average age of retirement has held steady at around 60 since 2004, although that’s up from 57 in the early 1990s.

Still, the average retirement age is expected to increase in the coming years. A major culprit appears to be money. The same poll found that more than half of the people who aren’t yet retired don’t think they’ll have enough money to live comfortably in retirement.

Even with a later retirement date you should still be able to enjoy some golden years. The average life expectancy in the United States is 78 years.

Related: More older couples are shacking up, skipping marriage

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Results with 31 short comments

Retire, daddy what’s that mean?

Well, duhh. With employers hiring mostly part time (so as not have pay as much in benies) and fewer quality jobs….Heck YEA

I retired by age 60 because I planned well for my retirement it has gone the way I hoped.

The only ones retiring early in life are state and federal workers with their lucritive pension plans all provided by the taxpayers!!!

A small inheritance filled the gap in my retirement kitty, so I am now at age 69 working part-time enjoying the slower pace.

Unless my financial situation changes in the next few years, I will not be able to afford to retire until I’m 72.

I am 55, been out of work since June, unemployment ran out and I just emptied my 401K to live on. No! I do not think I will ever retire!!!

As a widow, I will retire at 60 years old. I have had to many co workers pass away this year only in their 60’s. Life is just to short.

I will be dead long before I can retire.

This Bush Economy has been a real drag to emerge from. TeaBaggers, Obstructionists, and Fox Noise Lamers have done nothing to help recovery

since SS takes all my spare earnngs and SS is bankrupt how could I ever retire?

not a member of the 1%. can’t retire. they retired on it.

I’ll retire when I can’t work anymore, or when I have so much money I won’t have to worry about running out.

We’ve allowed companies to abandon pension plans and failed to teach about finance. The conservative apocalypse is upon us.

I will need to work much longer and retire much later because so many Americans today are counting the fruits of my sweat!

Wanting to work to a certain age and being able to keep a job that long often differ.

Semi-retired, but not yet on social. I have a part time job and plan on keeping up with this until age 67 to collect full social amount.

I’m 55 years old, working a seasonal job, and will be back on unemployment, as have not as yet found anything else.

We saved and lived modestly…retired at 58.

Plan is to make it to 55 then follow in Sonny Bono’s foot steps.

I’m not an educator. How the heck do you expect me to retire at 55 with a defined benefit plan and full medical care?

5 years ago – 2007 – I figured I would work ’til I dropped. Now I can see retirement 7-8 years out.

People having kids later is part of the issue. I’m 47 an empty nester and can save my butt off while living within my means.

I retired five years ago. I sometimes think I retired too young but that is better than working until age 70 as my father did.

I am a successful small businessman who sold business and retired at 52. Continued investing income from investments , currently 83.

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