People plan to work into the 70s or later

Almost four in 10 workers said they'll work long past the normal retirement age, if they even retire at all, and a growing number of people said the recession will force them to work longer in life, a new survey finds.

Thirty-nine percent of people said they'll work past age 70 or simply never retire, according to the annual survey from the Transamerica Center for Retirement Studies, a nonprofit private foundation. Fifty-four percent of those surveyed said they plan to retire between age 60 to 69, and 6% said they'll retire between age 50 to 59.

Meanwhile, 40% of workers said the recession will force them to work longer than planned and 54% said that even after they retire, they'll continue to work, according to the survey of 4,080 U.S. workers conducted by Harris Interactive in February and March.

Of those who say they'll work in retirement or after age 65, 34% said it was because they can't afford to retire and 9% said it was because they need the health benefits. Yet 87% of those workers who plan to keep working said they don't have a back-up plan if for health or other reasons they're unable to continue working.

http://finance.yahoo.com/focus-retirement/article/112761/people-work-into-70s-marketwatch?cat=fidelity_2010_changing_jobs&mod=fidelity-changingjobs