Workers, shaken by the realities of the Great Recession, have adjusted their visions of retirement according to the 13th Annual Transamerica Retirement Survey released this week 3,600 American workers. It found that the majority of workers plan to work past age 65 (56%) and the majority (54%) plan to continue working after they retire. Despite workers’ demonstrated commitment to saving, just 39% believe they are building a sufficient nest egg, thereby underscoring the need to redefine “retirement readiness” in a way that is better suited to these new realities.
“American workers are adjusting their expectations of retirement, including working past age 65 and planning to work part-time in retirement,” says Catherine Collinson, president of the Transamerica Center for Retirement Studies. “American workers have reshaped their vision of retirement, now it’s time to provide an updated roadmap to help them achieve retirement income to last throughout their lifetime.”
