Skip to comments.80 is the new 65 when it comes to retirement, survey says
Posted on 11/16/2011 7:45:49 PM PST by newzjunkey
When it comes to retirement, many middle class Americans said 80 is the new 65 and plan to delay retirement because of worries over money, according to a new survey.
Wells Fargo bank asked 1,500 Americans who earned between $25,000 and $99,999 and ranged in age from 20 into their 70s questions about retirement, savings and Social Security for its seventh annual retirement survey... On average, Americans have saved only seven percent of their desired retirement nest egg, with a median of $25,000 saved versus a median retirement goal of $350,000...
"We did find a bright spot among middle class Americans - more than three quarters do not want to retire with mortgage debt..."
(Excerpt) Read more at ca.news.yahoo.com ...
Went to a site visit at one of my company’s plants and saw a familiar face.
Bob retired 10 years ago,
but he is back now working as a new employee at age 70.
I see it all the time.
My retirement plan is drinking and smoking.
I don’t intend to make it to 80.
My dad retired on his 80th birthday in 1982.
Packed up his desk and walked out stating this game is getting too rough for me!
Anyone who imagines they can retire with $25K in the bank is delusional.
“On average, Americans have saved only seven percent of their desired retirement nest egg, with a median of $25,000 saved versus a median retirement goal of $350,000...”
Wow! I retired at 55 ten years ago... I had three times that. I have more now than when I retired (except for my house. That has gone down in value.
As long as you have your wits about you, and your health, I think this isn’t such a bad thing. It’s gets people out of the house, gives a sense of purpose, etc etc.
I always thought the time to “retire” was when you’re young and energetic enough to travel and learn about life.
Wife and i started saving our money, mostly in bonds and bond funds many years ago. We’ve missed the highs but also avoided the blowouts.
I retired at 62 and signed up for reduced SS.
I would recommend signing up as early as you can. I have no doubt some kind of test will be made for new retirees at some point...
Wells Fargo bank is a pollster now? Zero has screwed the pooch for most people's retirement accounts, but $25,000 is much lower than the Pew numbers.
It’s hard to hang on to a job anytime in the Oconomy, but it gets worse after 50 years of age.
People aren’t all rushing to retire at 60 or 62 - many are forced into it by companies phasing out seniors and others are left standing by companies moving offshore.
Both political parties have been onboard the “free trade train” for the last 50 years.
Year in and year out we hear how wonderful the next free trade agreement will be for us. Yet more and more jobs move offshore as soon as the newest free trade agreement is signed.
Politicians keep trying to engineer the econmomy for the benefit of other countries. We need a government that puts America and Americans first. It has been many years since that has happened.
Having been a factory foreman, I personally would prefer older workers for light factory work. They don’t expect $20 an hour for a $7 an hour job. The come to work on time every day. They don’t even consider the possibility that talking on the phone while working is OK.
The factory I used to work for recruited some very elderly people from a retirement village for light assembly work a couple days per week and they were great. We just gave them chairs and parked them around a table to work and they did great. We had a guy who was 87 years old. He said it beat sitting in his apartment watching everybody else getting old.
Americans said ———
Really what Americans?
I’m not planning on working til I die, even though Obama and the Democrats plan it for me...
I am in the same boat.
Seriously I have been very conservative with the market, and intend to go to a low cost area with decent healthcare for retirement.
I know folks that think they are going to retire in Hawaii and travel the world.
Got luck with that.
Your money will be gone in a heartbeat.
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The government is putting this bull sh*t out.
Retire at 80 and die one day later...
54 was the “new 65” for me. Retired 12 years, now 66 years old and loving every minute of it.
Retire at 80... and drop dead the same day...
They want people to work till they drop dead...
Three words - lottery tickets.
(I didn't say I could count)