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More Americans Expect to Work During Retirement

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More Americans are delaying retirement

A recent survey released in October by the Associated Press NORC Center for Public Affairs Research found that more aging Americans are opting to work during their retirement years. With many factors affecting their choices, survey states that approximately 80% of those who are working and 50 years of age and older plan on working through their retirement in some way.

With this survey, it looks like the definition of retirement is changing with the times.

Still reeling from the recession, some of the aging population are finding that they are no longer able to retire in the way that their parents have done before them. They are finding that with insufficient savings and a damaged 401(k) from the recession, they have to look at alternative options to help them during their older years.

Not only is the population getting older, but they are getting healthier as well. With long lifespans and illnesses showing up later in age, older workers are opting to continue to work as long as they can.

Those who were surveyed talked about the what was important in their retirement planning and many cited that financial needs were an important factor in determining their retirement plans.

Despite the fact that many workers prefer to keep working, this survey found that a third of retirees were forced into early retirement due to health issues or job layoffs.

This survey looked at the changing times and our perception of retirement. Some may have been forced into earlier retirement, and many plan on continuing to work to maintain their financial needs.

What are your plans for retirement? Discuss in the comment section below.

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