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The economy continues to change the retirement timeline for many mature workers, leaving them with tough decisions about their futures. More than seven-in-10 (72 percent) workers over the age of 60 who said they are putting off their retirement are doing so because they can't afford to retire financially, according to a new survey by CareerBuilder. When comparing genders, the survey found that three-quarters (76 percent) of female workers over the age of 60 who said they are putting off retirement are doing so because they can't afford it, while 68 percent of males said the same. The survey was conducted among more than 700 U.S. workers age 60 and older between November 5 and November 23, 2009.
Financial reasons are not the only grounds for postponing retirement for workers over the age of 60. Other reasons cited among those putting off retirement include:
"The economy continues to cast doubt in the minds of mature workers regarding executing on their future retirement plans. As a result, they are requesting to stay with employers a bit longer," said Jason Ferrara, senior career adviser at CareerBuilder. "Twenty-seven percent of hiring managers say they were approached about postponing retirements last year and were open to retaining mature workers. The key is to let your employer know sooner than later that you would like to put off your plans to leave."
PrimeCB.com, CareerBuilder's job site for mature workers, offers tips for those workers who may be planning to postpone retirement: