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

Old Man

December 6th, 2011
10:31 pm

First! And probably last.

LEADFOOT

December 6th, 2011
11:51 pm

“Is 80 the new 65?”

Actually 85 is the new 65, but only in a 70 m.p.h. zone.

Diddles McDoodles

December 7th, 2011
6:16 am

Hooray for President Obama and his destructive economic policies. The American people should be so grateful that his VP is a total moron with half a brain!

sirwinston1941

December 7th, 2011
8:29 am

Consideering where you work or can you still work at the age of up to 80. There are some things we all need to find out because, is there going to be money for you to collect and if so, if you can retire if you have plan for it; do it right now because the outlook of income might be a problem; but you can still use what you and draw your SS. No, the 80 is not the 65, 65 is what you need to do trying to get to 80..some won’t make it!

Katzkratch Phever

December 7th, 2011
9:08 am

I’m 53 and can’t wait to retire in 6 years at 59. I don’t care if I don’t have enough money, the government will take care of me.

Jack

December 7th, 2011
10:37 am

I’m 80 and I still work. If I didn’t work, I’d go nuts and drive my wife nuts.

bg

December 7th, 2011
11:27 am

Okay Im sick of ppl blaming our recent govt. particular Obama..I have sat back and have said nothing being that I was one of his most verbal critics..but the blame that he is getting is a lil unjust when the man before him office basically brought most of this countries worries and problems to new levels. The not one but two wars and TAX CUTS on top of that at the time of war is the main reason we are in this situation..all up under the man before OBAMA’s watch..Now Obama did make huge mistakes when he first took office but I think the man before him should be punished as well.

Ghost

December 7th, 2011
11:33 am

85 should be the new 65! 65 is too slow.

Florida Guy

December 7th, 2011
11:34 am

I agree with BG—-Where were the pundits (Hannity comes to mind immediately) who love to throw knives at Obama when Bush was enlarging the federal government to sizes not seen since FDR?? Not one word when it was a republican steering us down the road of doom, but once their boy isn’t in power, oh now, everything is going straight down the toilet—i say this as a republican who was stupid enough to vote for Bush twice. Call it like it is, not how your party wants you to call it. That’s the problem with America now—-Party ahead of country, and corporate lobbyists ahead of everything!!!!

Ghost

December 7th, 2011
11:36 am

Obviously, I thought this article was about speeding but I digress. ……..LOL

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.

Ghost

December 7th, 2011
11:53 am

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

Roekest

December 7th, 2011
11:53 am

Rose,

You truly embody your name.

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.

Upstate Gal

December 7th, 2011
12:29 pm

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

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!

Jeff

December 7th, 2011
12:44 pm

Retirement is a concept that needs to be retired.

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.

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.

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.

Ron Burgundy

December 7th, 2011
2:13 pm

Most all of the people who cannot retire until 80 can blame it on their needs for Apple products, cable TV and nice new cars. No one to blame but themselves.

Just like with the forclosures….where there’s a will there’s a way. At the end of the day it falls onn you. That is where I DO blame Obama and the left. They are not interested in self accountability and creating laws and programs geared to hold people accountable. They think govt can solve it.

David

December 7th, 2011
3:06 pm

This is the dumbest thing I ever heard. 80 is NOTHING like 65. Most people are lucky to be alive at 80. And when you get past 80, physical and mental ailments abound! Most everyone will be COMPLETELY unable to perform the work of a 65 year old at 80!! Frankly, if you have to work until you are 80, you probably can’t afford the medicines that you’ll need just to stay alive. So what is the solution? If you haven’t saved much money, use your social security check to retire to a different country where you can afford their standard of living. Hard work, frugal spending, constant updating of your skills & knowledge will get you to some kind of retirement. But don’t count on working ’til 80! Who would want you????

Hillbilly D

December 7th, 2011
4:17 pm

Most laborers and many blue collar workers will be disabled before they reach “retirement” age

True but to a large segment of the population, those folks are “those people”, so they don’t count, in their eyes, anyway.

Eric

December 7th, 2011
6:16 pm

What a sad day in this country that we will be expected to work until 80 years old! This asks too much of people!