A new study indicates that many Americans don't have much confidence in their financial security.
Conducted by the Employee Benefit Research Institute, the poll found that not only do older Americans say they anticipate working later into life than they originally planned, but a considerable number also said they will likely never retire. Approximately 15 percent of respondents said they believe they will work past the age of 70, up from 11 percent when a similar poll was conducted in 2006.
"The general trend shows that older Americans are expecting to retire later," said Sudipto Banerjee, research associate at EBRI and author of the study. "But the most striking finding is that nearly 20 percent of the sample expects never to stop working and more than 15 percent of the sample don't know when they are going to retire."
The full results of the study, "Retirement Age Expectations of Older Americans Between 2006 and 2010," were recently published in EBRI Notes.
Fortunately for insurance agents and their clients, there are a variety of products that can secure retirees financial futures. Life insurance and annuities are among the tools that offer peace of mind and a sense of security.