Friday, April 06, 2018

Who Is "Too Old" to Work?

At what age do you consider a person to be "old"? That question was asked by the TransAmerica Center for Retirement Studies in its 18th annual retirement survey of workers. The answer? It depends. The older you are, the older "old" gets. Millennials consider 65 to be the age at which a person is old. For Gen Xers, the age is 70. Among Boomers, it's 75.

The survey also asked, "At what age do you consider a person to be 'too old' to work?" Millennials said 70, while Gen Xers and Boomers said 75. But many respondents did not give an age at all and said it depends on the person—44 percent of Millennials, 54 percent of Gen Xers, and 69 percent of Boomers.

When asked how long they plan to live, every generation gave a median age of 90. Boomers expect to spend 20 years in retirement, Gen Xers 23, and Millennials 25.

Source: TransAmerica Center for Retirement Studies, Wishful Thinking or Within Reach? Three Generations Prepare for "Retirement"

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