12/7: Is 80 the new 65?

When it comes to retirement, 80 is the new 65. Nearly three-quarters of Americans expect to work long into retirement age.

It’s not because they all enjoy their jobs. Slightly more than half say they’ll have to work just to pay their bills.

Retirement planner Jack Albertson offers his perspective.

And a retiree shares his approach.

Is 80 the new 65?

24 comments Add your comment

Kelayameiosha

December 7th, 2011
1:18 pm

Zero debt for the past 15 years, retired @ 59, disciplined saver with a 7 digit investment portfolio. Life’s much, much more enjoyable if you’re debt free. Ya sleep a lot better at night too.

Shine

December 7th, 2011
1:17 pm

Most laborers and many blue collar workers will be disabled before they reach “retirement” age………but I repeat myself.

luangtom

December 7th, 2011
12:48 pm

I certainly hope that I do not live to be 80, as one writer is correct, I have not saved enough to retire that long. Why? Employees in my situation were FORCED to retire early or face no health-care insurance for themselves or their spouses. Many, like me, have spouses with long-term and terminal illness. So, I left my job at 55 and hope and pray that the economy and this country, along with my 401(k), make it through the current crisis and live into the future.

It is not Obama’s fault that we face this predicament. It is the whole of the Congress’ fault that we face this crisis. They over-spent, over-indulged and threw worthless money at problems that need fixing and they did not. I, personally, do not wish to see any of those currently in Congress or the White House re-elected. We need to start with a clean slate at all levels.

I have expressed these concerns to local representatives and senators and was basically told that they know what is best for us. We have a narrow perspective of the goings-on of the Congress and they have their hands on the pulse of the nation by being in Washington, DC. I say they are too distant and out of touch with all of their constituents and that they have been in Washington, DC, far too long to have developed this attitude. So, I will work to get new elected officials at all levels come the next election.

Jeff

December 7th, 2011
12:44 pm

Retirement is a concept that needs to be retired.

Sad times

December 7th, 2011
12:41 pm

Sad to say that both my father and my uncle “retired” in the past 2 years, both at 80.

The main reason was health insurance benefits (and to get away from my mother….). They also made the mistake of thinking SSI was going to cover living expenses – not even close.

For me, I’m part of the generation that had its retirement age raised to 67 a couple of decades ago during a quite, overnight congressional session. I’m willing to bet that 90% of my generation thinks retirement is 65…. NOT!

Upstate Gal

December 7th, 2011
12:29 pm

I laugh at your comment……until I realized the reality of the subject :-(

SAWB

December 7th, 2011
12:13 pm

Well, since the average lifespan in the USA is 78 it is difficult to see 80 as the new 65. The big problem that most folks have with retirement is not Obama, Bush, Wall Street, or anyone but themselves. Most people simply do not save enough money for retirement and then try to blame someone else for their own irresponsibility.

Roekest

December 7th, 2011
11:53 am

Rose,

You truly embody your name.

Ghost

December 7th, 2011
11:53 am

Florida guy is spot on. This two party system will be the death of us all!

Rose

December 7th, 2011
11:45 am

We were pretty stupid in our youth and presumed upon the future. My husband lost his job after 23 years with a large company after 9/11…our 20-year input into our 401K was lost, except for a few thousand…his retirement was lost as well. I don’t like Obama or his socialistic garbage, but I don’t blame Obama for our troubles. We are the ones who lived too freely and presumed upon the large company taking care of us. We did not diversify or tuck away enough in various corners to put a serious hedge for the future. We will have to work until the day that we die, but I can also see that as a type of blessing. Most of the retirees that I know do not have enough purpose in their lives. We all need to take personal responsibility for our lives — our mistakes are our own. Sometimes bad things happen, often they do. What we do with those is also one of the great tests of life and character.