June 15, 2009

Empty Nest Eggs

52%

Just over half of all working adults ages 50 to 64 say they have thought in the past year about postponing retirement.

As the current recession has wrecked havoc on Americans’ stock holdings and retirement accounts, 37% of full-time employed adults have thought about postponing retirement in the past year. Those closest to retirement, working Americans ages 50 to 64, are especially vulnerable to the market collapse; 52% have rethought retirement in the last year. But members of the Threshold Generation are not just delaying retirement plans, 16% believe that they will never be able to stop working. And higher income does not seem to completely shield Americans from retirement woes. Among all age groups, not just the Threshold Generation, top earners are only slightly less likely than lower-income adults to have considered postponing retirement. However, those who have lost 40% or more of their nest eggs are roughly twice as likely as those who haven’t lost money in the market meltdown to say they have thought about delaying their eventual exit from the workforce. Read More