MacroScope

More Americans expect to work until they die

April 16, 2009

If you were wondering what two years of wealth destruction have done to the American psyche, the Employee Benefit Research Institute has your answer.

They have conducted surveys asking (among other things) when people expect to retire. Back in 1991, a full 19 percent thought they’d be in full-time relaxation mode before age 60. The latest survey? Only 9 percent think they’ll be that lucky.

Just 17 percent now say they expect to retire at age 60 to 64, down from 31 percent in the 1991 poll. Nearly a third think they’ll be older thanĀ 66 before they stop working, up from 11 percent in 1991.

And get this: 10 percent in the latest survey say they think they’ll never retire. That answer didn’t even register in the 1991 version.

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