Why 70 is the New 65 for Retirement – CBS News

Age 70 is becoming the new target retirement age in the U.S. Half of all workers age 60 and older plan to retire at age 70 or not at all, a recent survey by CareerBuilder found. Given the longer lives Americans can expect, working longer is inevitable. During the last half of the 20th century, the number of years in retirement expanded dramatically, due to people living longer and retiring earlier. According to a report by the Stanford Center on Longevity, the average period of retirement increased from eight years in 1950 to more than 20 years in the early 21st century.

Read more