Question: We are working with our advisor to develop an educational program for our workers who are nearing retirement. Do you have any recent information regarding older workers who may be contemplating a delayed retirement?
Answer: According to new research from Boston College, older workers are delaying retirement and playing it safe amid fears about inflation, Social Security, federal debt, taxes and Medicare. The study team found that that group’s concerns about their financial future has risen sharply, with many respondents citing Social Security cuts and inflation as their greatest fears. About 20% of pre-retirees now expect to retire later than previously planned, whereas many others are shifting investments into safer assets or building larger cash reserves. You may want to consider reviewing the study and addressing those fears as part of your program’s curriculum.
