Word: surveyals
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About two-thirds of American workers now believe they'll have to delay their retirement by at least one year, with 27% expecting to work at least five years longer than planned because of the debilitating economy and stock-market losses, according to a new survey. (See "The Future of Work: The End of Cubicles...
...study, released Thursday by Sun Life Financial, shows that 65% of Americans no longer believe they can retire when they had previously expected to, up 11 percentage points from a similar survey done at the end of 2008. The study, which polled 1,451 workers from Aug. 14 to Sept. 14, found a record 28% expect to be working full time past age 67, up from 20% surveyed...
...degree of the shift was surprising," says Wes Thompson, president of Sun Life Financial in the U.S. The economic environment was already troubling when the survey was done a year ago, and "we didn't expect the jump to be as significant - up to 65%" during the latest poll, he says. (See 10 big recession surprises...
...survey found a sharp drop in confidence among working Americans. Only 40% of them said they were "very confident" that they'd have enough money to cover basic living expenses in retirement, while 25% felt confident they'd have enough cash to pursue hobbies and interests, and 28% expressed a high level of confidence that they had done a good job preparing for retirement...
David Corbin, a chartered financial analyst and president of Corbin & Co. Capital Management, says he isn't surprised by the survey's results. "I'm actually surprised that the numbers aren't higher," he says. (Read about a study on why older workers are happier...