- Category: Widget
- Published: Monday, 04 May 2015 15:36
- Written by Isaac
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Staten Island Commercial Bank Points To Survey On Americans’ Retirement-Age Expectations
Gallup poll finds that nearly 37 percent of Americans expect to retire after age 65.
WASHINGTON, D.C. – Staten Islanders planning to retire beyond the traditional hang-up-your-hat age of 65 may be sharing a similar expectation with many other Amercians, says Victory State Bank, Staten Island’s only community-based business bank.
The bank points to a recent Gallup survey which found that nearly 37 percent of Americans expect to retire after age 65.
This percentage, Gallup says, is consistent with recent years, but it is up from 31 percent in 2009 and nearly three times the 14 percent who said this in 1995.
The poll additionally that 32 percent expect to retire before age 65. According to Gallup, this is the first time this figure has topped 30 percent since 2009, but it is still down considerably from the 49 percent in 1995 who said that they expected to retire before age 65.
The percentage of nonretirees who plan to retire exactly at age 65 – the traditional retirement age – has been fairly consistent since the early 2000s, ranging between 24 percent, where it stands today, and 28 percent. It was only slightly higher in 1995, at 32 percent.
At the same time, a sea change has occurred in preferences for retiring earlier or later than that age point. Prior to 2009, the plurality of nonretired Americans planned to retire before age 65. Since then, the plurality have said they will retire after they reach age 65.
These trends in Americans' expected age of retirement are from Gallup's annual Economy and Personal Finance survey, conducted April 9-12, 2015.
About Victory State Bank
VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.