July 13, 2009

Staying on the Job…Forever?


More than half of the ‘Threshold Generation’ now say they plan to keep on working till after age 65–and maybe longer.

In the midst of a recession that has taken a heavy toll on many nest eggs, just over half of all working adults ages 50 to 64 say they may delay their retirement — and another 16% say they never expect to stop working, according to a national survey by the Pew Research Center’s Social & Demographic Trends Project. Overall, 37% of full-time employed adults of all ages say they have thought in the past year about postponing their eventual retirement; this proportion swells to 52% among fulltime workers ages 50 to 64. Members of this so-called “Threshold Generation” are twice as likely as younger workers to say they never plan to retire (16% vs. 8%). Moreover, the Thresholders who do plan to retire someday say they plan to keep working, on average, until they are age 66 — when they would be four years older than the age at which current retirees age 65 or older report that they stopped working. Read More