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More than one-third of workers say they won’t retire until after age 65, about three times the number saying so in the early 1990s. Another 10 percent say they won’t ever quit working. That’s according to an annual survey released Tuesday by the Employee Benefit Research Institute. Back in 1991, when EBRI first conducted the survey, this idea of never retiring didn’t even come up, says Craig Copeland, a senior researcher at EBRI and coauthor of the study. That is one of …
Note: Join AARP expert Jean Setzfand today, Friday, October 24, from 2 to 3 p.m. ET for a live Facebook Chat with Yahoo! Finance about Social Security claiming and ask Jean or another expert your own question here: https://www.facebook.com/yahoofinance. See Setzfand’s advice in a story from Yahoo! Finance just posted today as well: http://finance.yahoo.com/news/3-ways-to-boost-your-social-security-benefit-163853751.html. As I travel and talk with folks about planning for their future, “when to claim Social Security benefits” is, hands down, the most frequently asked question …
Grappling with deficits and debt, 14 countries — including Germany, Italy, Spain, Greece and Ireland — are planning to increase their retirement ages to between 67 and 69 by 2050, according to the Washington Post. In the majority of euro zone countries, the full retirement age is currently 65.
Retirement ages must rise globally if everyone’s gonna keep living longer and we don’t want to bankrupt national pension systems, says a new international report from the Organization for Economic Co-operation and Development, an international organization with 34 member countries. Already, 67 is becoming the new 65, it says.
A new survey conducted by Dutch insurance company AEGON shows retirement pessimism extends far beyond American borders. Participants from eight European countries and the United States showed similarly dismal views on their ability to save and plan for retirement securely. Only 15 percent of workers said they are confident they’re on the right track with retirement savings; 71 percent believe future generations will be worse-off in retirement than current retirees.
A surprising 62 percent of married couples disagree on the timing of their respective retirements.