Early retirement? Economic crisis leads older Americans to say fuggedaboutit


So much for la dolce vita. The number of older Americans who believe they'll be working after the age of 65 rose to 57 percent from 47 percent between 2008 and 2009, according to a new University of Michigan study. Early retirement? Yeah, right. The financial crisis has dimmed that dream too, with the percentage of older workers expecting to work past 62 increasing to 65 percent from 60 percent in the same period, says the national study on health and retirement.

"This study is the first to show a clear change in work expectations among the same group of older Americans," says study director David Weir, an economist at the university's Institute for Social Research. "The findings provide compelling evidence that people have changed their retirement plans as a result of the financial crisis."