Class of 2015 Faces Retirement Pushback to 75
Retirement is being pushed far back.
Nerd Wallet reports.
New Grad Retirement Report
NerdWallet’s analysis finds the Class of 2015 faces a retirement age pushed back to 75 — two years later than what the Class of 2013 could expect — because of increasing student loan debt, rising rents and millennials’ approach to money management. But it’s not all gloom and doom. We show how taking key steps now can bring retirement years earlier.
New Grads Won’t Be Able to Retire Until 75, Study Finds
by Arielle O’Shea
Rising rents and increasing student loan debt have pushed the retirement age to 75 for college graduates, according to a new NerdWallet study. That’s an increase from NerdWallet’s last analysis, which used 2012 data and predicted an average retirement age of 73 for the Class of 2013.
Compared to the current average retirement age of 62 [1], today’s college graduates will work 13 years longer. And, with an average life expectancy of 84 [2], they’ll spend only 9 years in retirement.
Comments
Luckily things don’t appear quite as grim as the original article suggests, here’s a counter view: http://retirementrocketscience.com/good-news-class-of-2015-you-wont-have-to-wait-until-age-75-to-retire/ Still, if new graduates don’t start saving early, a retirement at 75 could be their reality!