4/26/2015 – Plan on not working past 65 (USA Today)

Plan on working past age 65? If so, you better have a backup plan.

Consider: More than one in three workers (36%) say they plan to retire after age 65, according to a study conducted by Greenwald & Associations and published this week by the Employee Benefit Research Institute (EBRI). And that figure is up threefold from 1991, when it was 11%. What’s more, one in 10 workers say they never plan to retire.

The bad news. Workers’ best-laid plans and expectations don’t always come to fruition. That’s because one in two Americans who planned on working longer found themselves retiring unexpectedly, citing — according to EBRI’s study — such hardships as health problems or disability (60%), changes at their company, such as downsizing or closure (27%), and having to care for a spouse or another family member (22%). Others said changes in the skills required for their job (10%) or other work-related reasons (22%) played a role.

Read the full article in USA Today.