Hold Pina Coladas, Golf: 40 Percent Put Off Retirement


Sipping piña coladas by the pool and hitting the links: that was supposed to be the reward for working a lifetime. But for 40 percent of those near, at, or past traditional retirement age, that isn't happening.

Yesterday, consultants Towers Watson released a study that 40 percent have decided they can't retire. The two major reasons why were that 59 percent needed their employer's health care coverage and 56 percent had the misfortune of a decline in value of the employer-sponsored retirement plan. There's more. The lion's share of those were also ensnared in debt.

The 2010 book "Over-50: How We Keep Working" might be useful for having the shot at the best work situations, as employees, temp workers, and entrepreneurs. In my 60s I recognized I not only couldn't but didn't want to retire so I researched how you and I can keep making a buck on our own terms.

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Originally published