The Exchange

Retirement Age Not Exactly Polite Conversation

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Retirement seems like it would be something nice to talk about as one speculates what they might do when they are done with the workday grind. But that's not exactly the case, as many see themselves working past the one-time traditional retirement age.

Social security and other entitlements are hot-button issues facing a battery of criticism and even more uncertainty than usual in an election year. And, of course, the market fallout in 2008 made it clear that many future retirees also might not be able to count on the money they have stashed away, depending on where it's invested.

In a Yahoo! Finance poll Wednesday, 40 percent of respondents said they wouldn't work past 65. A bit less than that, 35 percent, said they would have to work, and 25 percent said they will work, but not out of necessity.

Slightly More Optimistic

Today's Yahoo Finance poll reflected a slightly more optimistic group than the Parade/Yahoo Finance survey published today, which showed a more sparse 33 percent of respondents expect to retire before they turn 65 years old. (That survey also found that 53 percent of workers had just three months worth of savings to tide them over if they lost their jobs tomorrow.)

Most middle class seniors won't have enough savings to support their current standard of living, according to Teresa Ghilarducci, a professor of economics at The New School. She estimates that 49 percent of middle-class workers will live on a food budget of less than $5 a day — poverty-like conditions, the Daily Ticker reported earlier this month.

Have you adjusted your retirement age for changes in expectations, market conditions or the economy? Let us know in the comment section below!

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