Due to recent changes in Medicare programs and increases in the cost-of-living index, we can definitely expect to see more seniors remaining in the workforce after passing retirement age. In addition, a longer life expectancy and advances in medical research will provide more seniors with the ability to work longer and remain in their positions or enter into an encore career.
We are running out of social security quickly. Unless people save up for retirement themselves, alot of people will probably not be able to retire. It sucks because I highly doubt I will retire unless I save up for it myself. I can't count on social security to help me even if I pay my taxes.
Sadly for our society, it looks as though the very idea of retirement as a given for the average worker may soon be heading the way of the buffalo. As the cost of living and the cost of doing business continue to increase, company's profit margins grow tighter, and their ability (or willingness) to invest in workers' retirement funds is all but disappearing with it. Likewise, workers' tight personal finances preclude the possibility of saving for retirement themselves. Consequently, more and more workers will find themselves working past retirement age.
After the recent financial crisis wiped out many seniors retirement savings, we can expect to see many more seniors unable to retire at 65 and forced to work indefinitely. Average retirement age is bound to rise, especially as traditional retirement funding like social security starts to dry up. There are an unfortunate number of American approaching retirement age with no savings.