A large majority of baby boomers are delaying their retirement by an average of five years, according to a new study.
The study, Middle-Income Boomers, Financial Security and the New Retirement, was conducted by Bankers Life and Casualty Company Center for a Secure Retirement. It found that 73 percent of America's middle-income baby boomers are rethinking their retirement thanks to the economic crisis, and of those, nearly 8 in 10 (79 percent) are delaying their retirement by an average of five years.
Additionally, 14 percent of boomers believe they will never be able to retire due to the turbulent economy, according to the study, which focused on 500 middle-income Americans between ages 47 and 65 with incomes between $25,000 and $75,000.
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