Comment on Most Older Americans Think They Won't Need to Work in Retirement. Are They Right?

Most Older Americans Think They Won't Need to Work in Retirement. Are They Right?

Retirement will cost the average American $828,000, and when we think of the many expenses seniors face, coupled with increasing life expectancies, that number makes sense. It's somewhat surprising, then, to learn that only 16% of older Americans expect to work during retirement due to a need for money. That's the latest from a new Schwab survey of adults aged 54 to 70 who are saving in a 401(k) plan.

 

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