Mark Miller: Remaking Retirement

Working Longer: Good Aspiration, but Not a Plan

Mark Miller

Many older Americans, asking how they'll be able to afford retirement, have settled on an answer: Work longer, or never stop working at all.

Working longer can make sense as a way to mitigate the risks of rising longevity and declining guaranteed income from pensions and Social Security. Adding even a few years of work creates opportunities to save more, spread savings against fewer years of retirement, and boost monthly Social Security income via delayed filing credits. It can be a very big inflection point in achieving retirement security.