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Data & Research December 28, 2010
Wide Support Seen for Later Retirement Age
Seventy-one percent of those participating in a recent poll believe
Baby Boomers should be encouraged to work past normal retirement age.
Reported by Fred Schneyer
The Marist College Institute for Public Opinion conducted the poll and reported that 69% of Americans – including 71% of Gen-Xers and 61% of Millennials – say they have a responsibility to provide for those who retire before them.
The greatest concerns of Baby Boomers – 77 million Americans born between January 1, 1946, and December 31, 1964 – about life after age 65 are finances (48%) and health (34%).
According to the news release, 61% worry that Baby Boomers will bankrupt Social Security, while 59% believe the needs of aging Boomers may overload the healthcare system.
Younger generations diverge from their elders in some key areas. Thirty-one percent of Millennials feel that Boomers should be encouraged to retire, versus 8% of the Silent-Greatest generation and 16% of Boomers themselves. Likewise, 37% of Millennials believe they should bear no responsibility to provide for retirees.
The report details the findings from a telephone survey taken between December 2-8, 2010, of 1,029 adults in the continental U.S.