According to a recent Gallop Poll, the average non-retired American now expects to retire at age 67 … up from age 63 a decade ago and 60 in the mid 1990s.
26% of the non-retired respondents to the survey said they expect to retire before age 65 … 27% at age 65 … and 39% after 65. That last percentage is up from 21% in 2002 and 12% in 1995.
Gallup also finds a steady increase in the average age at which respondents actuallyretired … from age 57 in 1991 to age 60 today.
The same poll finds a new low of 38% of non-retirees saying they will have enough money to live comfortably in retirement, down slightly from 42% last year. When Gallup first asked the question in 2002, 59% said they would have enough. The percentage dipped below 50% during the recession and has remained below since.
Our thought for today is from George Burns:
“Retirement at sixty-five is ridiculous. When I was sixty-five I still had pimples.”