USA TODAY: Almost a third of workers (28%) say they have less than $1,000 in savings and investments that could be used for retirement, not counting their primary residence or defined benefits plans such as traditional pensions. And 57% say they have less than $25,000, according to a telephone survey of 1,003 workers and 1,001 retirees from the non-profit Employee Benefit Research Institute (EBRI) and Greenwald and Associates. Previous surveys from EBRI and other groups have shown similar savings rates.
Often people want to continue working until later in life, but the survey found that 50% of retirees left the workforce earlier than planned, and of those, 60% left because of health or disability problems and 27% because changes in their company such as downsizing or closure.
In fact, 67% of workers say they expect to work for pay during their retirement years, but only 23% of retirees report they have ever worked for pay in retirement…
