Survey Over half of workers over 60 are postponing retirement

Survey Over half of workers over 60 are postponing retirementSurvey Over half of workers over 60 are postponing retirementThere are many good reasons to keep working after retirement, but some Americans are having trouble getting to that stage of life.New CareerBuilder research shows that 53% of people ages 60 and up report that they are postponing retirement - 40% think theyll have to wait to retire until at least age 70 - and 24% of workers say they dont know how much money theyll need to put away for their Golden Years.Rosemary Haefner, chief human resources officer at CareerBuilder, commented on thedecision for some to keep on working Postponing retirement will make an impact across all of our countrys workforce, along with retirement policy and financial and healthcare planning.With workers staying in their jobs longer, employers are adjusting hiring needs, she added, but also reaping the benefits of the extra skills and mentoring abilities of mature employees.The Harris Poll s urveyed 809 American adult workers working full-time, and who werent self-employed or working for the government. Here are some of the points that stood out.More people are saving up for retirement in the Northeast than anywhere elseThe research also broke the findings down by region, with the Northeast leading in terms of how many people (73%) are putting money in their retirement accounts. The South had the lowest amount of savers at 67%. Sixty-nine percent are saving in the Midwest and 71% are saving in the West.While 31% of women and 17% of men say they dont know how much money to save for retirement, the numbers also show how many older people arent prepared for their Golden Years 23% of workers age 55 and older dont have a retirement plan, such as an IRA or 401(k).Heres how much money people think theyll need to reach their Golden YearsThe survey shows that when asked how much they will need for retirement, the most popular answer was $500,000 to less than $1 1000000 at 31%, f ollowed by less than $500,000 came in second place at 20%. The option of $1 million to less than $2 million claimed third place at 14%, then $3 million or more at 7%, followed by $2 million to less than $3 million at 5%.No matter how much money you think you need to save for retirement, its better to put some money away than none at all. CareerBuilder found that a whopping 40% of those ages 18 to 34 dont have a retirement plan.Earlier research found that in 2017, many millennials doled out more cash for coffee than theyd saved for retirement - but that definitely doesnt mean you have to do the same.