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Can we fix this? Wells Fargo ~ 80 is the new 65

From: MoneyNews

The age of 80 has become the new 65. The magic retirement age, long considered to be at 65, has become irrelevant thanks to rising healthcare costs, mortgage obligations and other debts.

About a quarter of middle class Americans — earning $25,000 and $99,000 a year — see 80 as a good age to shoot for when it comes to retirement, a Wells Fargo study shows.

The rising costs of living, longer life spans and difficulties saving enough to retire are prompting many to write off calling work quits at 65.

Plus more Americans recognize they’ll need to save more when they do clock out for the last time. Continue reading →