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Consumers Delaying Retirement, Poll Finds
Friday, October 18, 2013 9:20 AM

10_18_13_consumers_delay_retirement.jpg

According to an Associated Press-NORC Center for Public Affairs Research poll released Monday, older Americans not only are delaying their retirement plans, they're also embracing the fact that it won't necessarily mark a complete exit from the workforce.

Some 82 percent of workers 50 and older say it is at least somewhat likely they will work for pay in retirement. And 47 percent of them now expect to retire later than they previously thought — on average nearly three years beyond their estimate when they were 40. Men, racial minorities, parents of minor children, those earning less than $50,000 a year and those without health insurance were more likely to put off their plans.

About three-quarters of respondents said they have given their retirement years some or a great deal of thought. When considering factors that are very or extremely important in their retirement decisions, 78 percent of workers cited financial needs, 75 percent said health, 68 percent their ability to do their job and 67 percent said their need for employer benefits such as health insurance.