Retirement Age Shifts UpwardNorth Americans appear to be more optimistic about their longevity than their retirement prospects, according to Nielsen survey gauging how people around the world plan to spend their golden years.

That's the crux of a Nielsen survey gauging how Americans and Canadians plan to spend their retirement compared to their counterparts in other parts of the world.

About 22% of Americans and Canadians expect to work past the age of 70, with 6% expecting to retire after their 80th birthday, or about two years past the nations' average lifespan, Nielsen said in a report published earlier this month. All told, Americans were about 70% more likely to expect to work past 70 as their global counterparts.

The postponement of retirement isn't just an American phenomena. The combination of longer lifespans and a global financial crisis over the past few years has made workers under 60 worldwide far less optimistic about retiring by age 70 than their older cohorts, according to Nielsen. Whether in North America, Europe, Latin America or Asia, the percentage of those over 60 who say they're financially prepared to retire is solidly in the 25% to 35% range.

"Across most countries, those under the age of 60 were less sanguine about their chances to retire in their 60s," Nielsen said in the report.

"Forced to Reconsider"

Still, the North American contingent expecting to work past 80 is three times the size of the European contingent and twice the global average, Nielsen says. The research firm's figures illustrate how events such as the real estate bust and, until recently, lackluster stock market performance has forced workers more workers to postpone retirement.

"For Baby Boomers sitting on the cusp of retirement, the Great Recession and the U.S. housing market collapse came at the worst possible time," the Nielsen report said. "Having the largest investment portfolios and large shares of net worth tied up in real estate, many Baby Boomers planning to retire in their late 50s and 60s are forced to reconsider."


Last year, more than a third of those surveyed in a Gallup poll said they expected to retire after 65, up from the 15% who said the same in 1996. Additionally, 60% of those in a separate Gallup poll last year said they had no hope of receiving any sort of Social Security benefits when they retire. According to Nielsen, about one in four Americans under 60 expect to fund their retirement with a government benefit such as Social Security, putting those in the U.S. on equal footing with Latin America and far behind Europeans in that department.

As far as post-retirement plans, North Americans are far more likely to consider activities such as volunteer work than their global counterparts, and far less likely to join a new company or start a second career, according to Nielsen.

Nielsen surveyed more than 26,000 people online in 53 countries for the poll, which took place in September.


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269 Comments

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Greg

I'm retired at 51! I have my life back! No worries,No boss, Just too much time on my hands! I watch re runs of
cancelled series because TV ran out of entertainment Ideas. No More "Those were the Days" No more HELLO MR. WILSON! Where do we go from here?

August 01 2011 at 12:35 PM Report abuse rate up rate down Reply
BUCKWHEAT

tomarrow is not promised, retire today and dont look back !!!!!!!!!!!!!!!!!

June 07 2011 at 8:25 PM Report abuse rate up rate down Reply
jagrocholski

I'm 91 year old, and retired at 63. unenployment was high. I was demoted frone first engineer twice to third engineer. so it was time for a younger person to have my job. everyone who can retire now should.

April 21 2011 at 10:47 AM Report abuse +1 rate up rate down Reply
NEURONTOGO

THIS IS JUST GREAT.SO BY RAISING THE RETIREMENT AGE,PEOPLE HAVE TO COMPINSATE FOR THROUHING MONEY TO THIS THAT AND EVERY THING ELSE BUT US.JUST A LITTLE SECRET,EVERY YEAR THAT PASS'S MORE TOXIN'S BIOLOGICAL, AS WELL AS TECHNICAL.PUT US ON THE GOLD STANDED AGAIN, AND STOP VOLINTERING US IN WARS THAT ARE NOT OUR CONCERN.SO NOW IF YOUR LUCKY YOU CAN ENJOY RETIREMENT FOR WHAT TEN YEARS.WHY NOT JUST TRIM THE FAT ON CAPITAL HILL,THERE NOT DOING A DAM THING RIGHT ANY WAY.GOLDEN YEAR'S MY A-S,I WOULD LOVE TO KNOW THE DIRT BAG THAT PUT INCOME TAX BACK IN AFTER THE CIVIL WAR WAS OVER,THAT'S WHY IT WAS IMPLEMENTED IN THE FIRST PLACE, THEY TOOK IT OUT, THEN THEY PUT IT BACK IN,GREED EVERY TIME,WE HAVE TO PAY FOR THERE MISTAKE'SM,WAIT IT WILL BE 90 NEXT YEAR.JUST SO WE CAN SAY,WE HELP OTHER COUNTRIES

April 03 2011 at 7:05 PM Report abuse rate up rate down Reply
buzzingstreet

Nice post. Its always better to think before investing money in stock market. Investment should be done in share market but with the aim to increase our funds so speculation should not be the mode of investment. Investors should know why they are investing money in any stock.
Regards

February 25 2011 at 6:50 AM Report abuse rate up rate down Reply
Ellen

People that work till 65 or 70 are idiots. Retire at age 62 and enjoy the rest of your life and let someone younger have your job.

February 24 2011 at 6:46 AM Report abuse +3 rate up rate down Reply
1 reply to Ellen's comment
jekeehan

and do what sit on your aaa

March 08 2011 at 7:58 PM Report abuse +2 rate up rate down Reply
toosmart4u

People are forced into working later on in life. This is the republican plan. The GOP is working to eliminate as many democrats as possible then there weill be no social security and medicare. Shameful. Example, Wisconsin, Indiana, Ohio, Michigan, etc.......

February 24 2011 at 4:15 AM Report abuse +1 rate up rate down Reply
jesuaphn

Why don't we all commit mass suicide like the lemmings?

February 24 2011 at 3:33 AM Report abuse -4 rate up rate down Reply
jesuaphn

So in other words, you'll be working after you are dead. It is a good way to avoid paying the taxes.lol

February 24 2011 at 3:32 AM Report abuse +5 rate up rate down Reply
willi149s

I want to retire. I'm 61. I can't, because social security is being drained to put massive amounts of welfare babies on medicade. I'm toast. I earned my modest social security benefits. There should be no drain on social security for those who do not plan to work and have never contributed. Form some additional entitlement programs funded by those earning over a million dollars a year, for those not willing to work and breeder's babies. Let those of us who have been hard working middle class all our lives, who have paid in for over 40 years, retire and start collecting. Many of us don't want to work longer to deprive the younger generation of those willing to work from filling our job vacancies. We MUST work longer (it appears until we die) because Congress has decided our part of the baby boomers are conservative voters and will not vote for rampant give-away politicians openly buying left wing votes...no one is ENTITLED to a free ride so they can be third and fourth generation sit around, drink malt liquor and indescriminant babt producers who have no intention of taking responsibility for their financial keep freeloaders while I pay for their lifestyle...just one person's opinion...won't change the vote rigging, and won't change the fact I will have to work until my death. I'm not even indignant about this any more. I realize the government has already thrown my group away.

February 24 2011 at 2:52 AM Report abuse +8 rate up rate down Reply
2 replies to willi149s's comment
nnolan5714

Got to keep working to pay for all the illegal Folks here somebody has to do it.

So why not you.

LoL

February 24 2011 at 5:01 AM Report abuse -2 rate up rate down Reply
ricpernell

Who says you can't retire? You can start receving your benefits at 62 if you want to. Your problem seems to be lack of planning for your retirement. It has nothing to do with social security. It's a shame you want to place blame for your lack of inteligent preparation for your later years on others that you feel are stealing your benefits. Your benefits will be there and you will be able to participate in medicare and medicade should you need to, while receiving your monthly social security check.
You talk about welfare babies, breeder's babies, entitlement programs, indescriminant baby producers and malt liquor drinkers as the reasons for your problems...you poor thing you.
You really do come across as a very sour person with a not happy life. It is always easier to lash out at others to commpensate for your sad life than it is to take responsibilty for it yourself.
Good luck to you. Go buy yourself a bottle of malt liquor and enjoy it. It may help to clear your mind.

February 24 2011 at 6:35 AM Report abuse +4 rate up rate down Reply