Friday, November 18, 2011

It is for ME

The concept of a “retirement age” is becoming irrelevant, at least according to a new study of middle-class Americans.

Whether it's a desire to reach a certain nest-egg number, dealing with rising health-care costs, or grappling with mortgage debt, more workers are deciding to delay retirement.

A quarter of middle-class Americans — defined as earning between $25,000 and $99,000 annually — say they will “need to work until at least age 80,” according to the annual retirement study by Wells Fargo [WFC 24.69 0.02 (+0.08%)

"Another interesting shift in the mindset of Americans is their perception of how much money they need. Three-fourths of respondents said it's more important to have a specific amount versus a date: $350,000 was the median nest-egg goal, but median retirement savings were only $25,000 dollars," said Laurie Nordquist, executive vice president of institutional retirement at Wells Fargo.



80 Is the New 65 for Many Retirees - US Business News - CNBC

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