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Wednesday, April 7, 2010 as of 11:14 AM ET

The Casone Exchange
  • May 18, 2011 09:05 PM UTC by Cheryl Casone

    Retirement at 70: The New Normal?

    On today’s show we talked about an alarming new survey that presented a dramatic and troubling picture of how and when Americans plan to retire.  According to the Transamerica Center of Retirement Studies 39 percent surveyed now say they plan to work until they are 70 or never retire at all.  Those numbers a huge jump from one year ago.  The reason will come as no surprise to many of you that have seen your portfolio evaporate over the last three years:  many Americans don’t have enough money to stop working at 65.

    See for yourself:

JOSEPH MATRANGA

Cheryl, I am 70 years old and if i could not draw from my social secuity at age 62, I would have had a hard time making it. I was laid off in year 2000 and was in Drafting design in Engineering. When i got laid off the business and all Engineering Companies started to say that they wanted people with a certain software to do the Piping Design Business. There excuse was if you did not have 5 years in that software, you were not marketable. In 2000 I was 60 and had to use my life savings.A shame.

May 20, 2011 at 8:23 pm

theabnranger

This is what some of us have advocated for nearly 20 years. When will people open their eyes to see real solutions for the Unsocial Insecurity Ponzi scheme? When will Americans get over this idea that they should be able to retire young and healthy on other people's money? A few extra years of work go a long way personally and nationally to keep people solvent and able to better enjoy their retirements. And they stay healthier by working longer, to boot.

May 20, 2011 at 12:34 pm

irina

In order to retire you don't have to plan. The numbers have been already done.

May 20, 2011 at 11:28 am

Ron Morgan

I don't plan to retire at all. I'm 61 and self employeed. I love what I do, have good people working for me, and don't plan to walk away from it. As it is, I can get away when I need to, I make a good living, and my golf game sucks. So, why would I want to leave it? I don't.

May 20, 2011 at 11:22 am

Bob Clark

Have you seen the Throw Granny off the Cliff ad. It was dreamed up by Erica Payne. The lying, left wing moron Erica Payne should be placed in stocks in front of the White House and horse whipped. She, by the way, is a regular on Fox Business Network displaying her ignorance and stupidity on Cheryl Casone’s program. We will stop watching Fox Business the next time Erica Payne shows up, Period!

May 20, 2011 at 10:14 am

Jim

I guess you can blame market conditions for retiring at the age of 70. But I suspect the real reason is the lifestyle you have been living. Big houses, new car every other year, expensive vacations is where your retirement went. Nobody to blame but yourself. Also, good luck with your health holding out working until 70 or beyond.

May 20, 2011 at 9:55 am

wild biker

Many of us over 60, but not yet 65, have been laid off before we could reach full retirement benefits at our companies. Additionally, the available retirement medical benefits are unaffordable and we're facing a world where doctors will not take Medicare any longer. So, we're forced into continuing to work. Our portfolios cannot insulate us from these realities.

May 20, 2011 at 1:29 am

Carla,Ballwin,MO

You should PLAN for your retirement in order to retire at a reasonable age. How do you feel at 50 - add 20 - you couldn't possibly do the same rigorous activities, which enrich one's life,in your later years. Retirement is your second act! A roadtrip to Alaska and a month-long bicycle tour of Ireland are on the agenda when I hang it up - that's just for starters! No polyester pantsuits or Buick for this girl! If you wish to work until 70,that's great too! The key is remain active and vital.

May 19, 2011 at 12:00 pm

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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