A few months ago we held a Movin’ On Up poll asking whether or not retirement was in your future. Only about 23% of those polled said that they planned to retire.
Twenty-nine percent said they can’t afford to retire, while 15% think retirement would be boring. Just fewer than 9% don’t see a reason to retire since they can travel and do what they want while working. Seven percent have heavy debt they have to pay off before retirement even becomes a consideration. Six percent wanted to keep working because they love their jobs, while 3% need to support their children financially. Two percent have to support their parents financially.
Six percent chose the “Other” option, with responses ranging from needing to work part-time or being a workaholic to the desire to start a second career.
So what does all of that data mean? We’re living in a changing employment environment. For a variety of reasons, baby boomers are working longer. This is the new normal. But it can be nice to see that you aren’t alone.
Any other reasons you won’t be retiring any time soon? Let us know in the comments below!