Americans are prepared to work longer in order to save enough for retirement, according to a survey by Wells Fargo & Co. (WFC)
About 76 percent of respondents said it’s more important to reach a specific dollar amount before retiring, compared with 20 percent who said it’s more important to retire at a given age, regardless of savings, according to the survey of adults with household incomes or assets from about $25,000 to $100,000.
“Eighty is the new 65,” Joseph Ready, executive vice president of Wells Fargo Institutional Retirement & Trust, said in an interview at Bloomberg headquarters in New York before the survey was released today. “It’s a real sea change.”
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by Elizabeth Ody
Productivity freaks will love it, but those concerned with youth unemployment will hate it.