|Did you know?|
|Written by Holyoke Enterprise|
According to the Center for Retirement Research at Boston College University, men are now retiring later than they have in the past. In an analysis of data collected by the U.S. Census Bureau, the Center for Retirement Research found the average retirement age for men has risen from 62 in the mid-1990s to 64 near the end of the first decade of the 21st century.
The reasons for this change are likely not because men are reluctant to leave office life behind, but because of a variety of factors that have to do with finances. Many companies no longer offer pension plans, so men are more likely to work longer to save more money for their retirement.
In addition, Social Security benefits in the United States are now calculated differently than they were in the past, so men have a greater incentive to work longer.
But finances aren’t the only reason men work longer. Many men now have jobs that are not physically taxing, enabling them to work longer as a result.
Holyoke Enterprise May 17, 2012