MARIETTA - A sizable percentage of Americans don't expect to stop working - ever.
That's according to a recent Risks and Process of Retirement Survey Report from the Society of Actuaries, which showed that 35 percent of U.S. pre-retirees don't think they'll every leave the workforce. That number is up from 29 percent who felt the same way in 2009.
Those surveyed cited reasons like the desire to stay active, a financial inability to retire, the need to preserve or increase assets and the need to maintain employment benefits.
Photo by Sharon Bopp
Kevin Rings, of Marietta, gets a haircut at Riverfront Barber Shop from Bob Sears of Marietta, 59, on Friday. Sears is one of many local residents who say they don’t expect to retire anytime soon.
It's part of a decades-long shift in retirement ages.
According to Gallup's annual 2012 Economy and Personal Finance survey, those surveyed this year expect to retire at age 67, compared to expecting to retire at age 63 in 2002 and 60 in 1996.
Marianne Monaghan, 57, of Marietta, simply doesn't want to retire.
According to a 2011 Risks and Process of Retirement Survey Report from the Society of Actuaries, a sizable percentage of Americans don't expect to stop working-ever.
Thirty-five percent of pre-retirees do not expect to ever leave the workforce, a number up from 29 percent in 2009.
Of those pre-retirees not expecting to retire:
* 89 percent said staying active was one reason to remain working.
* 45 percent believe they will be financially unable to retire.
* 87 percent said they will require additional income.
* 80 percent said they will need to preserve or increase assets.
* 61 percent want to maintain benefits offered through employment.
"I don't ever see myself retiring," she said. "It just doesn't sound appealing."
Monaghan and her husband Scot, 65, are co-owners of Barking Dog Books and Art in downtown Marietta.
The Monaghans moved to Marietta 10 years ago when Scot Monaghan took a high school teaching job.
Previously, Marianne Monaghan had worked in investor relations for Sohio and home schooled her children for 12 years.
Their long-time passion for books led them to open the bookstore eight years ago. Recently, their success led them to relocate their business and expand its size threefold.
"We like books, and we like what we're doing," said Scot Monaghan.
Denise Blouir, 46, of St. Marys, stays home and takes care of her family's farm animals.
When Blouir's husband, a former iron worker, could not find employment, "We had to withdraw all his retirement money out," said Blouir.
"I know he won't be retiring soon," Blouir noted.
Currently, he works as a safety man, she added.
Bob Sears, 59, of Marietta, retired from his job as a lieutenant with the Washington County Sheriff's Office after 31 years on the job. Before working with the sheriff's office, Sears had gone to Ohio State Barbers School in Columbus in 1973.
"Back in the early '70s guys were not getting their hair cut as frequently because it was the time of the hippie era," noted Sears.
Not able to find enough work, Sears returned to Marietta and was hired at the sheriff's office. Four years ago, Sears returned to barbering at Riverfront Barber Shop in Marietta.
"I wanted a little part-time retirement job," he said. "I plan on doing it until the good Lord says, 'OK, Bob, enough is enough.'"
According to financial strategist Clark Hodges of Dallas-based Hodges Capital, "It's one thing if you want to work forever because you love what you do, but if you're working until the day you die because you can't afford to retire, that's a problem."
Jo Hooper, 55, of Belpre, said she'll be able to retire - if her Social Security money is still there.
"I have a little bit of retirement money but it's not a huge amount," she said.
If Social Security is not there, "I'll be working until they bury me under," Hooper added.
Hooper said she might work a part-time job after retirement.
"Work is healthy for me and it keeps me on a routine," she said.