Middle-Class Americans Face Retirement Challenges, Often Retiring Earlier Than Planned
A recent Transamerica Retirement Survey reveals that a significant portion of middle-class adults in the U.S. anticipate working past age 70 or not retiring at all, yet the reality for many current retirees is an earlier departure from the workforce. The 26th annual survey, which included over 7,600 Americans with household incomes between $50,000 and $199,999, found that 70% of non-retirees expect to work until at least 65. However, the median retirement age for those already retired was 63, with 57% retiring before 65. More than half (53%) of those who retired earlier than intended cited employment-related reasons, while a third pointed to personal health issues. Only 14% of early retirees indicated having saved enough money as a factor in their decision. Concerns about the high cost of living (80%) and the potential for artificial intelligence to render job skills obsolete (45%) are major obstacles to saving for retirement among those not yet retired. Furthermore, 28% now view Social Security as their p... 
