Still reeling from the economic turmoil of the past three years, many pre-retirees are pessimistic about their financial future, including when they will be able to retire.
A study from The Hartford Financial Services Group has found that many pre-retirees have “no idea” when they will be able to retire (28.3% for ages 60-69 and 33.3% for those age 70 and older) and 36% of those ages 60-69 say they are postponing retirement for up to two years or more. Nearly nine in 10 people in their 60s expressed concerns about having enough money in retirement, with more than half (55.4%) planning to work longer and put off retirement or work part time during retirement. Nearly half of those 70 years and older (44.4%) said the same. About 17.4% of those between 60 and 69 years old, and 33.3% of those 70 years and older, say they never plan to retire.
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