In the 401(k) era, 70 may be the new age to retire
It’s official: when it comes to retiring, 70 is the new 65. That’s according to a new study from Boston College’s Center for Retirement Research that shows less than half of US workers will have enough money saved to retire at 65. But if those same people keep working until they’re 70, the picture improves dramatically, with 86 percent likely to be financially comfortable in retirement. “The 401(k) system has worked for some, but it has not worked for many,’’ said economist Anthony Webb.