A new poll released by the Associated Press-NORC Center for Public Affairs Research found that 82 percent of working Americans aged at least 50 say it is at least somewhat likely they will be working in their retirement, a growing sign that the nation’s aging workforce has still not recovered from the Great Recession.
“Many people had experienced a big downward movement in their 401(k) plans, so they’re trying to make up for that period of time when they lost money,” said Olivia Mitchell, a retirement expert who teaches at the University of Pennsylvania.
Furthermore, nearly half (47 percent) of survey respondents say they believe they will retire later than previously estimated. There were key demographics that had expected to postpone retirement: men, those earning less than $50,000, parents of minor children, racial minorities and individuals without health insurance.
“The definition of retirement has changed,” said Brad Glickman, a certified financial planner with a large number of baby-boomer clients in Chevy Chase, Md. “Now the question we ask our clients is, ‘What’s your job after retirement?’”
The telephone poll was conducted with 1,024 Americans older than 50 years of age. It contains a margin of error of +/- 4.1 percentage points.