Report from Employee Benefit Research Institute (EBRI)
Retirement age continues to increase across a broad range of workers and employees. Despite an increase over the past year, retirement confidence levels still indicate a general uneasiness among workers in the prospect of securing a financially comfortable retirement. How, if at all, do workers expect to compensate for insufficient retirement savings? Retirement age is inversely proportional to retirement savings, as the less a person’s retirement savings, the more retirement age increases.
One of the ways is by postponing retirement.
While responses to a question asking the age at which workers expect to retire shows little change from one year to another, the age at which workers expect to retire has been slowly rising. In 1991, just 11 per- cent of workers expected to retire after age 65. Twenty-three years later, in 2014, 33 percent of workers report that they expect to retire after age 65, and 10 percent don’t plan to retire at all. At the same time, the percentage of workers expecting to retire before age 65 has decreased, from 50 percent in 1991 to 27 percent.
Not surprising, is my comment.
If you’re reading this and have at least 15 years before the age you plan to retire, maybe you can avoid these statistics, and actually retire at 65. The Mortgage Magic System can give you the guidance to increase your net worth and hopefully retire on time and with a comfortable nest egg.
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