Workers Waiting Longer to Retire

Retirementat 65 is no longer a realistic option for many adults.  According to a recent Gallup survey, 37% ofworkers expect to retire after age 65, up from 14% in 1995.  Only 26% hope to retire before age 65, downfrom 49% in ’95. 

Thereasons for pushing back retirement age vary. Some enjoy their work while others need more time to save, become eligiblefor Medicare, or wait for Social Security payments. 

Eventhough workers are trying to wait longer, the average retirement age is 61, whichis up from 57 in 1991. 

See Emily Brandon, What’s the Ideal Retirement Age?, MSNMoney, Aug. 13, 2013.