One in four US employees expect to work past age 70

[Big_Hitter]

"Despite an improvement in their financial situation and retirement confidence, roughly one in four U.S. employees believe they won’t be able to retire until after age 70, if at all, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, nearly one-third (32%) anticipate retiring later than previously planned."

https://www.willistowerswatson.com/...our-us-employees-expect-to-work-beyond-age-70

 

[marko]

"Despite an improvement in their financial situation and retirement confidence, roughly one in four U.S. employees believe they won’t be able to retire until after age 70, if at all, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, nearly one-third (32%) anticipate retiring later than previously planned."

.........and every one else is here on this forum!

 

[jollystomper]

In related news, with an improvement in their financial situation and retirement confidence, roughly three in four U.S. employees believe they will be able to retire before age 70, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, over two thirds (68%) anticipate retiring as previously planned or earlier.

 

[Fedup]

Maybe they should live in a Toyota 4Runner and blog their way to retirement. Some 30s something already is doing that.

 

[aja8888]

Maybe they should live in a Toyota 4Runner and blog their way to retirement. Some 30s something already is doing that.

RV's and campers are pretty cheap these days for those who wish to live a bit on the edge:

GMC Other GMC | eBay

 

[RobbieB]

Yes, bad news is good and good news is bad. I dunno.

In related news, with an improvement in their financial situation and retirement confidence, roughly three in four U.S. employees believe they will be able to retire before age 70, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, over two thirds (68%) anticipate retiring as previously planned or earlier.

 

[Fedup]

RV's and campers are pretty cheap these days for those who wish to live a bit on the edge:

GMC Other GMC | eBay

I was looking to buy one but never saw one that cheap. Does it actually work, I wonder? Even just renting for a day would cost $300 from my research. At that rate, I check into a hotel.

 

[mystang52]

In related news, with an improvement in their financial situation and retirement confidence, roughly three in four U.S. employees believe they will be able to retire before age 70, according to a survey by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Additionally, over two thirds (68%) anticipate retiring as previously planned or earlier.

You beat me to it!

 

[W2R]

"roughly one in four U.S. employees believe they won’t be able to retire until after age 70, if at all

In the year 2000 I thought I'd be lucky if I could retire by age 90.

I retired in 2009 at age 61.

I think many people (particularly late planners like me) are pessimistic about when they will retire. This is part of how we get motivated to shift LBYM and retirement planning into high gear and hit it with all we've got.

 

[Clone]

GMC Other GMC | eBay

Maybe we should put the band back together, gather up some groupies, and hit the road!

 

[RobbieB]

When I retired everyone at the Co was shocked. I guess nobody ever retired as young as I. And I wasn't that young. I guess not many people think about it.

 

[eta2020]

Wait until they get fired or get sick. Then they will change their plans

 

[papadad111]

The BAND

 

[Rustic23]

Does it change anything if you say "75% of all Americans expect to be retired by age 70"

Doesn't sound so bad t me given that there is some percentage that will never retire, even if the could.

 

[CoAndy]

I believe the debt level most people carry is what makes them feel they need to work until 70. I read some figures the other day....it is truly astounding.

 

[jazz4cash]

If you never figured out how to live within your means and save with a regular paycheck, it probably seems impossible to survive on anything less than 100% of your income. OTOH those that practice LBYM can match or exceed their needs without W2 income. A guy from my former job called me to ask how I could do it and he was pleasantly surprised to learn that FICA and Medicare taxes would not apply to his retirement income.


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[Options]

Wait until they get fired or get sick. Then they will change their plans

+1
The "one in four" are in for a rude awakening if you look at the (abysmal) statistics. Many won't make it to their sixties, let alone "after 70". This is why Scott Burns refers to one's fifties as the "fifties minefield", during which the high likelihood of a job loss or serious health condition obliterates the best laid plans.

 

[dallas27]

Considering 2 in 4 people have below average intelligence, not bad.


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[bclover]

If you never figured out how to live within your means and save with a regular paycheck, it probably seems impossible to survive on anything less than 100% of your income. OTOH those that practice LBYM can match or exceed their needs without W2 income. A guy from my former job called me to ask how I could do it and he was pleasantly surprised to learn that FICA and Medicare taxes would not apply to his retirement income.


Sent from my iPhone using Early Retirement Forum

Sometimes you do. I think a lot has to do with the type of personality one has.
When my mega Corp had a huge layoff May of 2014 a number of good friends where effected, a lot of them are doing GREAT. What they actually found was a lot of their living paycheck to paycheck was caught up in unnecessaries.
Now all got great severance packages but I am really Wowed by how many simplified their lives and are hanging in there.
One guy John downsized and is actually starting a non profit to help vets with ptsd. His son suffers from it.

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[rodi]

Doesn't sound so bad t me given that there is some percentage that will never retire, even if the could.

True - my stepmom fits in this category. She's a PhD nurse educator. She was forced to retire (age limits at the university) 20 years ago. So she started teaching for a for profit university. When she stopped driving due to neuropathy she tried to retire again - but the university worked to find her a transportation service. Then they rolled out a whole new computer interface for the grade entry/etc... and she got frustrated learning the new system... so she retired again.... then they talked her into taking a few more courses...

She's 89 and still teaching nursing statistics online part time. (She learned the new system.) She's also still working as a graduate adviser, helping candidates with their thesis and dissertation preparation. She'll never retire and since there is a severe shortage of nursing instructors, she won't need to.

 

[Independent]

From the link:

The survey also shows employees who expect to work longer are less healthy, more stressed and more likely to feel stuck in their jobs than those who expect to retire earlier.

 

[Idnar7]

Those that plan to work until 70 better plan on bagging groceries for minimum wage or less. My job was eliminated at my age 60 but I am not sure I would have kept working for minimum wage.