SURVEY SAYS: Plans for Retirement

Many surveys have revealed that Americans feel unprepared for retirement and plan to retire later or work during their retirement-age years.

Last week, I asked NewsDash readers, “Do you plan to retire later, and/or do you plan to work during your retirement-age years?” The answer was yes for both questions for the majority of readers who responded.

About four in ten (41.9%) responding readers say they plan to retire between ages 55 and 65, inclusive. Of those planning to retire later than age 65, 44.6% plan to retire between ages 66 and 70, inclusive, and 9.5% between ages 71 and 75, inclusive. Slightly more than 4% say they plan to never retire.

Of those who plan to work past retirement age, 6.8% say they plan to work full-time, and 58.9% say they plan to work part-time. The remaining 34.2% of respondents indicated they do not plan to work during their retirement-age years.

In verbatim comments there were a few who expressed that same sentiment as this reader: “If you love your job and continue to do well at it and other factors like commute and health are good, why would you retire?” Others said they would be bored if they retired, but still others want to quit work altogether and enjoy traveling and family time. It was funny to me that a couple of readers said they couldn’t retire because their wives wouldn’t let them. Of those who plan to work, they say it is not just for the money, but to stay engaged. Editor’s Choice goes to the reader who said: “I’ve worked since I was 14 years old. When I reach retirement in a few years, I’m done. Life is too short to work in my golden years.” 

Thank you to all who participated in the survey!


I am 67 now, but plan to call it quits within the year. Just need to find someone crazy enough to take over for me.

I'm 60 with kids ages 5 & 7... I plan to keep working at any job I can...until I can't.

While I would like to retire before 70 and not need to work in retirement, I took many years off to tend to my family and missed out on multiple years of savings. Not to mention, the retirement education was not really emphasized as much so I got off to a late start.

I plan to retire earlier than 55 - already living well below my salary, which allows for increased savings and for fewer projected costs later.

I hope to be in a position of working because I *want* to. That would enable me to do something that's related to my interests, rather than central to my livelihood.

I'd like to retire at 62, but most likely I will be at least 65 (health permitting). My youngest kid will be starting college when I'm 62. I hope Trump hasn't wrecked Social Security by then. Heaven help us all.

I would like to work part-time doing something fun or interesting that I enjoy and that contributes something useful to others as opposed to what I do now.

I want to continue working after retirement in a field totally different than my current career for the social, community and health benefits.

The cost of health insurance is a real wild card when planning for retirement. Better to plan on working PT to pay for additional coverage than to be caught with limited coverage and wipe our retirement savings with one health crisis.

the reality is day to day living is costing more and wealth accumulation for the other 95% has never and will never keep pace

After 30+ years in the retirement business I've been aware of the need to save - so I have. I'm ready to retire yet my wife says I have to work. I'm thinking Home Depot as I already know where everything is and will be happy to slowly walk people over and show them how to use it. BUT only part time as I have lots of plans for my time once I get some free.

Glad I started saving for retirement at 24. Now, at 60, I'll be retiring in 3 months.

I am 62 and love working, but would also like to cut-back in a few years. Part-time would be ideal, but I just don't know if that is an option. And FYI, my main considerations are not financial, but have more to do with staying busy and engaged.

For the sake of my marriage and sanity, I plan on working as long as possible.

I can't retire. My wife told me I am not allowed to retire. She doesn't want me home 24/7.

I'd like to find part-time work during retirement to provide a little financial cushion, but also to keep my mind engaged and to continue to participate in the life of my community.

Verbatim (cont.)

Why retire? I hope to move from my current job I love to another job I love more. Benefits people work with their minds, and I don't plan to turn my mind off at retirement age.

I am worried about what I will do after I retire. I have been at my employer for 40+ years. I can't imagine what I will do when I don't have to get up and go to work but I hope to enjoy figuring that all out!

When I was young, fifty-five seemed like a great idea. now that I'm almost there, ten years out seems good - but it keeps shifting to ten years from current age.

I have saved as much as I could throughout my career and lived well below my means my entire life. I am financially prepared will be enjoying my life as I wish when I turn 55 (currently 45). No more work for this guy.

I am going to make it work with what I have when I retire because I am tired of working.

I've made enough retirement mistakes in my life that I'll probably be working until I'm 90. I'm a shining example of how not to prepare for retirement - that's job security!

a few months off of working full time and I would be bored looking for something to do.

I plan to retire at age 70, but continue to work with a select group of clients, as I want to stay stimulated and I enjoy working with this group of clients.

I truly enjoy my job and I want to travel extensively, so the added income and the enjoyment work together for me. That doesn't mean I won't be taking time off to accomplish the traveling - just that I'll be returning to work at the end of the trip.

I'll be looking for a very flexible part-time schedule in order to travel as much as I wish. All my children live in a different state than me and I also want to spend some time seeing the sights of the world with my sisters.

My husband and I have been sacrificing to save for retirement for many years. We've joked that we can't eat now but we'll be ok in retirement!

I'm planning to retire in less than 12 months at the age of 59. This is getting exciting!

I definitely don't want to work at this pace during retirement....perfect arrangement would be PT benefits-related role. Yes, I still want to stay in this industry/

Want work to stay active and keep benefits especially 401(K) plan to boost retirement income

I'm retiring on the earlier of common sense pension plan reform or July 1st. To all you brothers-in-arms I've worked beside but never met - best wishes, be well and God bless. Oh, and yes, I plan on working at being retired.

I'd retire today if I knew I would have affordable health care or Medicare!

You needed a "maybe" for question 2 - I don't plan on working, but I might - I'm certain I will be doing something in retirement, but it will not be this job or anything like it.

Verbatim (cont.)

Being single, work is a big part of my life so as long as I am healthy I plan to work as long as I can. Plus I don't feel that my 401k plan has grown as much as needed over the years.

It has always been my thought that I would rather work a year or two longer, making my current salary, than to have to go back to work at age 70+ and make $10 per hour! It would be a different story if I am bored and want to go back to work. I just don't want to HAVE to go back to work!

I don't look forward to boredom in retirement, so if I have good health I plan to work at least part-time well beyond my SS retirement age of 66 and 6 mos.

I continue to work at age 70 as does my husband at age 75. We have enough savings and assets to retire, albeit not lavishly. Surprisingly, retirement is about more than money. It is a decision to leave behind who you currently are, work you enjoy and the workplace camaraderie.

If you love your job and continue to do well at it and other factors like commute and health are good, why would you retire?

There should be a choice of "I don't know" under 2 above. My answer would be "I sure hope not, but I just don't know what might come up."

I plan to work at least part time during retirement because I need a reason to get up every day. My father always said you have to keep busy; if you just stop, you'll die.

I've worked since I was 14 years old. When I reach retirement in a few years, I'm done. Life is too short to work in my golden years.

Retirement savings is not on time as of now. Man proposes, God laughs.

The plan is to have saved enough to retire peacefully and not have to work, however I'll keep that option open if it's necessary.

I'm already 73 so making it to 75 shouldn't be a problem. As long as I'm healthy, I'll keep working after retirement, but probably only a couple of days per week.

My goal is to have enough retirement assets that work is optional and only to keep busy.

With a pension, social security, and retirement savings, I won't have to work in retirement. I know that I want to do volunteer work but may pick up a part-time job just to keep busy. It is comforting to know that I won't have to work in retirement!

I expect to be able to retire at 55 (I am 48 now, and have a DC plan only), but do not expect to actually retire until 59. I will work part time at a side business that I am already running, profitably, now.

I am planning to phase into retirement in 16.5 months at age 55 (no kids) by going part-time mainly because I think I'll need to get used to the idea of not getting a paycheck.

Still have a mortgage and other bills.


NOTE: Responses reflect the opinions of individual readers and not necessarily the stance of Asset International or its affiliates.