25 Percent of Americans Believe They Will Never Retire

By:
Chris Gaetano
Published Date:
Jul 9, 2019

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A recent poll has found that many Americans do not believe they will ever formally retire, according to Fox Business News. The poll, conducted by the Associated Press-NORC Center for Public Affairs Research, found in fact that 1 in 4 Americans do not expect that they will ever stop working within their lifetimes. While some say this because they love their careers and find meaning in work, many also say that they simply can’t afford it. The poll found that 45 percent of all adults, including 32 percent over the age of 50, are only “somewhat” prepared for retirement, while 56 percent of those between the ages of 18 to 49 say they are not prepared for retirement at all. 

This tracks similarly to what other studies have found. A poll in 2016 found that 66 percent of baby boomers plan to work during their retirement years or are already doing so; on the other end, another poll found that 66 percent of millennials have 0 saved for retirement. The GAO says that 52 percent of households aged 55 and older are in the same boat (29 percent have no defined benefit plan and no retirement savings, and 23 percent have a defined benefit plan but still no retirement savings). However, even when people do have retirement savings, a study from Met Life found that about a third of people have tapped into them prior to retirement to do things like pay off debts or respond to sudden emergencies.

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