This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Survey Finds Nearly One In Five Americans Expect Never To Retire

Stocks in this article: HBC

Working until you drop is no longer confined to the pages of Victorian novels according to the sobering findings of a new report published today by HSBC. The study discovered that nearly one in five (18%) working-age Americans expect they will never be able to afford to completely retire, believing that circumstances will require them to work indefinitely. This compares to an international average of around one in eight (12%).

This latest HSBC report entitled ‘Life after work’ is the ninth in a series focused on international attitudes towards aging and retirement and is based on a survey of more than 16,000 people in 15 countries and territories 1 between July 2012 and April 2013. The findings paint a particularly bleak picture for the growing number of Americans who are currently living alone. One in three (33%) divorced or separated U.S. respondents said they did not believe they would ever be able to retire, compared with the survey average of one in five (20%).

For those already in retirement, over two fifths (44%) of people in the U.S. said they had not prepared adequately or at all for a comfortable retirement, compared to some 38% globally, with almost half (43%) of those only realizing they were underprepared after retiring. Around one in eight (12%) of those Americans who did not prepare adequately said they would be forced to go back to work to cover their financial shortfall. This compares with the survey average of 14%.

However, it’s not all doom and gloom. HSBC’s research goes on to highlight four practical actions, which can help retirement savers everywhere to plan now for a better future in their old age:

Action 1: Don’t rush into retirement

There is a view among retired people that they might have been too hasty in giving up paid employment. Nearly two-thirds (64%) who entered semi-retirement wished that they had stayed in full time employment longer. This regret is largely for positive reasons, with many retired people seeing work as an important means of keeping the body and mind active.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,511.85 +112.18 0.68%
S&P 500 1,928.60 +24.59 1.29%
NASDAQ 4,386.7260 +70.6520 1.64%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs