WMFD TV

Search Archive WMFD.com News

www.wmfd.com - For many, retirement means traveling, golfing, spending time with the grandkids, but according to one survey, a growing number of people plan to keep working, forever, as Alison Kosik explains. }}" />

   
 
 
New Survey Shows Many People Can't Afford To Save To Retire

Story By: Larry Stine

 

 

 
 
 
  Email Story to Friend
   
  Original Published: 10/28/2013 For many, retirement means traveling, golfing, spending time with the grandkids. But according to one survey, a growing number of people plan to keep working, forever. Alison Kosik has the details. Work 'til you die. That's the new retirement plan. A Wells Fargo survey says 37-percent of middle class Americans don't plan to retire, ever. They say they'll only retire when they're too sick to work. Some 34-percent plan to work until at least age 80. That's up from 25-percent in 2011 and 30-percent last year. One big reason why: money. People are trying to make do with less. The median household income has been falling since 2007, and a lot of jobs lost during the recession were replaced with lower-wage positions. Also a factor, some middle class workers are nervous about investing in the stock market. But many financial experts say stocks provide the best return on investment. After the recession, the S-and-P 500 roared back, and then some. It's currently at record highs. But people who don't have the income or don't have the savings are planning to rely on Social Security as their primary source of income. That's only about 15-thousand dollars a year, so they're working longer. It's not all bad news though. Some are using retirement as a way to start a new career, the opportunity to finally do what they love.
   
  MORE RECENT NEWS
 
Image1 Employees at Mansfield Memorial Homes Adult Daycare had a perfect, crisp fall afternoon for their 6th annual chili cook- off Full Story
Image1 An 18-year-old Tiro man was seriously injured Thursday night in a rollover crash in Crawford County. Full Story
 
Image1 The 20th annual Harmony House Sleep-out for the Homeless is underway at Walmart in Ontario. Full Story
Image1 Ashland University's new 1200 square foot Environmental Studies Center at the Black Fork Wetlands is open and ready for students of all ages to use. Full Story
  MORE NEWS
 

Ashland University Opens Environmental Studies Center

Mansfield Woman Featured On Hit Reality Show

Mansfield opens new drop sites for leaf collection

Entire Statewide Republican Ticket Campaigns In Mansfield

Tree Cut Down, Damaging Headstones At Historical Cemetery

Richland CODA Discusses Flooding, Lead-Based Paint

Friendly House holding annual Coats for Kids giveaway

Trick or Treat and Parade Draws a Crowd

Task Force arrests fugitive wanted for rape

Crawford County Hiring Fair Draws Job-Seekers

Judge Candidate Phil Naumoff Speaks To Local Democrats

Jack Hanna's show coming to the Renaissance

Big Red Bookshelf Book Fair coming to Ontario

Spaghetti Bowl Raises Money,Excitement for Mansfield Rivalry

More News