Six-in-ten workers over the age of 60 say they are putting off their retirement due to the impact of the U.S. financial crisis on their long-term savings, according to a survey by CareerBuilder.
The survey was conducted among more than 8,000 workers between November 12 and December 1, 2008.
One-in-ten workers (11 percent) over the age of 60 who are putting off retirement say that the decrease to their savings may now cause them to never retire, while 73 percent think it will take them up to 6 years of extra work to recoup their lost savings.
Nearly a quarter (24 percent) feels they can make their money back by working an additional year or two.
“Mature workers may be feeling the pinch of this difficult economy more than others because of their impending plans for retirement,” said Jason Ferrara, Senior Career Advisor at CareerBuilder. “Mature workers who are returning to the workforce to offset their retirement losses will likely encounter many of the same challenges that workers of any age are facing today. However, their level of knowledge and experience and network of professional contacts will work to their advantage in a competitive job market.”
For tips on navigating through a difficult economy, employees can check out PrimeCB.com, CareerBuilder’s site for mature workers.