Three in 10 U.S. workers foresee working past retirement age
Another 38% expect to retire between the ages of 62 and 67, spanning the existing Social Security age thresholds for benefits eligibility, while 23% expect to stop working before they turn 62 - that is, before becoming eligible for any Social Security retirement benefits.
These findings are from Gallup's 2016 Economy and Personal Finance Poll, conducted April 6-10. The average age at which U.S. workers predict they will retire is 66, consistent with the 65 to 67 age range found since the 2007-2009 recession ended.
The expected retirement age is up slightly from about 64 years of age spanning 2004 to 2008, and is up from 60 in 1995.
Lower-income workers plan to retire a bit later, on average, than those earning $75,000 or more annually. Young adults, those aged 18 to 29, plan to retire earlier than middle-aged and older adults, likely reflecting youthful optimism about their future income and savings. ■