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Sunday, November 17, 2019


Stef Kight at Axios reports that the 65+ number in the workforce has tripled in the past thirty years.
Why it matters: Delayed retirement is a sign of health and affluence for some and a continued life of hardship for others. As society ages and people live longer, a 21st century idea of retirement is needed, Steve Vernon of the Stanford Center on Longevity tells Axios.
The big picture: Americans are working longer — out of choice or necessity. And the trend has broad implications for people of all ages, from younger workers mapping out their futures to older people planning their legacies.
  • 43% of Americans ages 45 years and older say they expect to outlive their savings, according to an Axios/SurveyMonkey poll.
  • 31% of Americans ages 40-79 said they would continue working into retirement age even without a financial need, according to a recent Harris Poll for TD Ameritrade.
"[T]here is more and more incentive to work longer, because the more you work the more you're going to contribute to the [retirement] plan and the more you're going to get from the plan," Richard Johnson, Urban Institute's director for the Program on Retirement Policy, tells Axios.
The state of play: The other side: Reality check: The mechanisms that once ensured an easy retirement may be disappearing, but a small percentage of American workers ever really benefited from pension plans.