Yahoo! Finance had an article the other day talking about how 25% of Americans expect to retire at the age of 80. This age is 2 years longer than the average U.S. life expectancy. 80 years old just sounds crazy to me, but I know this is what many people have to do now due to not saving enough or just the economy wiping out all savings.
“While respondents (whose ages ranged from 20 to 80) had median savings of only $25,000, their median retirement savings goal was $350,000. And 30% of people in their 60s — right around the traditional retirement age of 65 — that were surveyed had saved less than $25,000 for retirement. “
That quote scared me. 30% had less than $25,000!?! I can’t even imagine how these people feel.
When do you think you’ll retire? Do you plan on working a part-time job/gig while you’re in retirement?
I’m sure that I’ll be doing something, as I like to keep busy. I’d like to run my own non-profit or be heavily involved with a good animal shelter. I won’t be retiring for a REALLY long time, so it’s a little crazy to think about because it just seems so far away.