Study: Work until 70 for comfortable retirement

July 5, 2012 12:36:45 PM PDT
You should plan on working until at least the age of 70 if you want to guarantee yourself a more comfortable retirement.

That's the conclusion of a new study from the Center for Retirement Research at Boston College. Other findings in the study include that only 30 percent of households can afford to retire at age 62, and that 49 percent can retire at 65, but 86 percent could retire at 70

The study authors say the only alternative is to save more, but the expenses of raising kids, paying for college, and a mortgage make that unlikely.