Americans are becoming more realistic about retirement, with 40% of older Baby Boomers currently eligible for Social Security now planning to work a few more years to increase their savings and reach higher Social Security payout thresholds, Charles Schwab’s quarterly retirement pulse survey found.

And 95% said they would prefer to save more today than to have to spend less in retirement. In addition, investors are becoming far more engaged in their retirement planning, with 52% reporting they are now more involved. Forty-eight percent of Gen X and 53% of Gen Y have increased their retirement contributions.

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