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Older Workers May Become More Common As Many Push Back Retirement Age: Survey Says

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OLDER WORKERS
The average target retirement age now stands at 67, according to a new Gallup poll. | Alamy

Everyone’s buzzing about how Gen Y is taking over the workplace, but the offices of the future are more likely to be populated by older, not younger, employees. The average age at which Americans expect to retire has hit 67, up from 63 a decade ago and age 60 in the mid-1990s, according to a new Gallup poll.

With just 38 percent of non-retirees saying they expect to have enough money to live comfortably in retirement (a new low), it's easy to see why people are planning to work longer. Back in 2002, 59 percent of non-retirees believed they would enjoy a comfortable retirement, but when The Great Recession hit, that number dipped below 50 percent and has stayed there ever since.

Why it matters to your business: More people working longer means more selection for you in terms of employees. You might be able to pick and choose from skilled, experienced older employees. And with some of them likely seeking only part-time work, this could mean opportunities to benefit from their years of experience at a reduced cost to you.

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