NEW YORK, Jan. 21 (UPI) -- Aging baby boomers have a lot of work to do if they hope to retire at age 65 and nearly three out of four expect to continue working at least part-time.
Forty-five percent of the 2,170 respondents to the Hudson retirement survey said they probably would not have enough financial resources for a comfortable retirement. Seventy-four percent said they planned to work after age 65.
More than half (52 percent) said they expect personal savings to provide the lion's share of their income after they stop working rather than pensions or Social Security. However, 31 percent age 50-64 said Social Security would provide the biggest share of their retirement income.
"As companies cut back on traditional pensions and healthcare coverage for retirees, it is clear that the workforce will have to turn to their own savings and/or keep working to sustain themselves during retirement," said Jeff Anderson, senior vice president of Hudson, North America.
