The ultimate American dream used to be to get rich young and “retire by 40.” Now the goal for the rich is to retire past 70—if they retire at all.
A new survey shows that America’s highest earners don’t plan on retiring until they are at least 70 years old. Lower-income groups—and even those considered “affluent”—plan to retire much younger, according to the study from Spectrem Group, a wealth research firm.
When asked “At what age do you expect to retire?” nearly one-third of those with annual earnings of $750,000 or more answered “over 70.” Fifteen percent of them say they never plan to retire.
