A sizable percentage of Americans don’t expect to stop working — ever.
That’s according to the 2011 Risks and Process of Retirement Survey Report from the Society of Actuaries, which found that 35 percent of pre-retirees surveyed in 2011 do not expect to ever leave the workforce. That is up from the 29 percent of pre-retirees who reported the same in 2009.
For the vast majority of pre-retirees who don’t expect to retire, remaining active and engaged during their senior years is of importance. Of the 35 percent not expecting to retire, 89 percent said staying active was one reason to remain working.
However, financial concerns also weighed heavily on the minds of many pre-retirees. The survey found 45 percent of those not expecting to retire believe they will be financially unable to do so.
Pre-retirees not expecting to retire also gave the following reasons for being unable to stop working:
The need for additional income: 87 percent
The need to preserve or increase assets: 80 percent