According to a press release, before the economic
crisis, 67% of respondents planned to retire before age 70,
but now the number of seniors planning to retire by age 70
is 40%. Also, before the economic crisis, 30% of those
surveyed planned to retire after age 70, and now almost 50%
of seniors plan to retire after age 70
More than 40% of the seniors polled reported the current
economy has had some kind of negative effect on their
ability to retire, the press release said. More than 50%
indicated they are concerned that their overall net worth
may no longer be enough to sustain their retirement.
Eighty-six percent of seniors said they have a reasonable understanding of their net worth, and 50% of them indicated their net worth had declined by between 10% and 30%.
The independent online survey, conducted with United Sample, Inc. in partnership with Golden Gateway Financial, polled a nationwide representative sample of more than 500 senior citizens aged 62 or older.
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