Looking Forward Hopefully To Post-Retirement Work takes

Which statement is true: (a) Americans want to retire early or (b) Americans want to keep working well past the standard retirement age. Both are true, according to the latest Work Trends study from the John J. Heldrich Center for Workforce Development at Rutgers and the Center for Survey Research and Analysis at the University of Connecticut. “Three-fourths of workers surveyed said they would like to retire from traditional full-time work before they turn 61, and 37 percent of workers would like to retire at or before age 50.” The key phrase is “traditional full-time work,” as nearly 70 percent also said they “would continue to work even if they had enough money to live comfortably for the rest of their lives.” More specifically, 42 percent would “like to work part-time for enjoyment” after quitting full-time work, and an “astounding 19 percent said they’d like to start their own business.” The rosier scenarios fade when people are asked whether they’ve been seriously saving. Just 29 percent “are very confident that they will be able to retire when they want.” While 89 percent said saving for retirement is “important” to them, only 52 percent claimed to be doing a “good job” of saving. Ten percent of women and 5 percent of men feel they’ll “never be able to retire.” Thirteen percent of those polled see Social Security as their “primary income source” in retirement; 32 percent see it providing “a little” of their income. Registering its doubts about this split, the report notes that Social Security now accounts for over40 percent of the average retiree’s income. Even for those in the top income quintile, Social Security contributes “on average23 percent of their annual income.”