Retirement: Is 80 the new 65?

Slowing down may not be an option for many Americans. A new survey finds that many plan to keep working for years — whether they want to or not

Retirement
(Image credit: Bob Rowan; Progressive Image/CORBIS)

The traditional retirement age of 65 is a thing of the past, according to a new survey from Wells Fargo. Many Americans say they intend to work well into their retirement years, and a quarter say they won't have enough money saved to retire comfortably until they're 80, if ever. Three quarters of the 1,500 middle-class Americans surveyed said the amount you have squirreled away — not your age — should determine when you slow down. Meanwhile, just 20 percent said you should pick an age and quit then, no matter how much money you have. What does this survey say about how Americans will spend their Golden Years? Here, four takeaways:

1. Many people don't want to retire

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us