2.3 Million Households Expect to Delay Retirement
March 17, 2003
The deteriorated stock market and weak economy will force 2.3 million households to delay retirement, according to an Intuit survey of 500 people with an annual household income of $75,000 or more, who actively manage their investments. Last year, 1.9 million households reported a delay in their retirement plans.
While 73% don't expect their portfolios to rebound until 2006, 22% think their retirement will be delayed eight years or more, up from 11% expecting such a delay in 2001.
On the flip side, although nine out of 10 investors reported their retirement portfolios have decreased in value, 34% expect to increase their 401(k) and IRA investments.
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