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Debt management plan may be option as people delay retirement
By Peggy Stillwell on Apr 27th, 2010
Generally, some may think that 65 is the age many people will retire. However, a recent poll shows that a number of people are delaying leaving the workforce.
According to the survey taken by Gallup, 34 percent of respondents said they would retire sometime after they hit 65. That compares to 29 percent who said they would leave the workforce before that age and 27 percent who will do so at 65.
"This marks the first time Gallup has recorded more nonretirees saying they will retire after age 65 than before that age," the survey company said.
The number of people who plan on waiting to retire until after 65 has increased in the last 15 years. Back in 1995, only 12 percent of respondents said they would wait until after 65.
One of the main reasons why some people may have to wait until later to leave the workforce is the recession, which drained people's finances and reduced their retirement accounts. As a result, some have to work longer to make up for the shortfall.
Though incomes may have dropped or bills increased for older workers, consumers may still have options for dealing with their difficult financial positions. One of those is a debt management plan, which can help a consumer pay off their bills in a more timely manner.
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