
Only 21% of Americans say they plan to stop working at the age of retirement, according to a new survey.
The Transamerica Center for Retirement Studies (TCRS) surveyed 4,550 full-time and part-time workers about their retirement and savings plans. One in five said they would continue working as long as possible and 41% planned to reduce their hours. The study also found that 61% of Americans expect to continue working past the age of 65 or do not plan to retire at all.
“Today’s workers recognize they need to save and self-fund a greater portion of their retirement income,” said Catherine Collinson, president of TCRS. “The long-held view that retirement is a moment in time when people reach a certain age, immediately stop working, fully retire, and begin pursuing their dreams is more myth than reality.”
More Must-Reads from TIME
- Introducing the 2025 Closers
- Colman Domingo Leads With Radical Love
- Trump and Musk Have All of Washington on Edge
- Why, Exactly, Is Alcohol So Bad for You?
- The Motivational Trick That Makes You Exercise Harder
- 11 New Books to Read in February
- How to Get Better at Doing Things Alone
- Column: Trump’s Trans Military Ban Betrays Our Troops
Contact us at letters@time.com