20% of older workers worry they’ll never be able to retire

For many workers, dreams of traveling, playing golf or just relaxing on a porch swing in their golden years seem very much out of reach.

About 30 percent of U.S. workers over age 60 said they don't plan to retire until at least 70, and 20 percent said they don't believe they will ever be able to retire, according to a new survey by CareerBuilder.

Senior woman businesswoman working

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Retirement seniors working small business

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Most think they'll need at least $500,000. About one-quarter believe they'll need less than $500,000, according to CareerBuilder.

Fidelity Investments, a large provider of retirement accounts, recommends people save at least 10 times their ending salary by age 66, the age at which most workers qualify for full retirement benefits from Social Security. Under this rule, someone making $100,000 would need to save $1 million in their retirement accounts.


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