25% of Americans Expect to Work Until They Are 80

More than three-fourths of Americans recently surveyed by Harris Interactive said having a specific amount saved before retirement is more important than retiring by a certain age. The telephone survey asked 1,500 Americans about their attitudes toward saving, planning, and investing for retirement. The survey found 25 percent of middle-class Americans say they will need to work until they’re 80 years old in order to live comfortably in retirement. More than 50 percent of respondents said they need to reduce their spending in order to save for retirement and 29 percent of respondents in their 60s said they’d saved less than $25,000 for retirement. The survey results highlight the need for better planning and preparation prior to retirement.