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How High Will the Retirement Age Go?

It’s increasing, but by how much depends on individual circumstances

June 11, 2012 RSS Feed Print

Polls indicate that Americans are beginning to accept that these changes are coming. According to a recent Gallup survey, most Americans now believe they will have to retire at 67, up from 66 last year, 63 ten years ago, and 60 in the 1990s.

But the poll also shows that people expect the increase in the retirement age to be small. According to Vernon and Tresidder, this isn't the case: People are going to be forced to work into their seventies very soon.

Tresidder says this change does not have to be a bad thing. People can work in fields that engage them and provide personal satisfaction. Just because one's first career was a grind doesn't mean the second one will be the same.

"People are really embracing [working later in life] because it's really about fulfillment," he says.

Tags:
social security,
senior citizens,
retirement,
money

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