Changes in the way Americans will retire in the United States have been predicted. It stems from headlines in Europe where the retirement age has been increasing. In the United States, this is also expected due to the amount of baby boomers there are expected to retire in the next decade.
The worst revelation comes down to the fact that most people who should be ready to retire no longer feel they will be when the time comes. This notion has been rising since the economy collapsed, and a majority of citizens continue to feel this way. More so, a lot of workers are not even saving to begin with. Quite simply, they can’t afford to participate in their companies 401k plan.
The less people are preparing for retirement, the longer they will have to work. Also, in accordance with medical care costs, the age people retire will increase. Most people retire at the age of 65, but now almost a quarter of the population believes they will work until they are 80. None of this should come as too much of a shock since the Social Security system continues to be predicted to dry up earlier and earlier at each estimate.