For generations, 65 has been America’s traditional retiring age. But for the baby boomers retiring at that age may not be realistic.
According to a poll by the Associated Press and LifeGoesStrong.com, a website for the middle-aged, among baby boomers, 73 percent plan to work past retirement — a number that’s up six percent since March.
“If things keep up, this is what we’ll all assume,” personal finance expert and CBS News financial contributor Carmen Wong Ulrich said.
So why the shift in thinking?
Wong Ulrich said, “Since the poll was taken in March and then the next poll was in early October before the gains of October, the Dow (Jones Industrial Average) was down 10 percent. So it’s an additional big hit — 62 percent of those surveyed said they took a big hit with one or many of their retirement vehicles.
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