Tough Economy Delays Retirement for Some

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A recent survey by Sun Life Financial Inc. shows that more Americans plan to delay their retirement because of steep drops in their savings accounts.

They found that 65 percent of American workers plan to stay on the job at least one more year. That's an 11 percent increase from a similar survey in January.

"Americans are looking at all different aspects of their lives and trying to figure out how they can secure a financial future given the economic factors that they're living with," said Sun Life Financial spokeswoman Julie DiCarlo.

Reuters reports experts attribute it to the fall of stock markets since 2007. They also say people are living longer and having to build up more savings before they can retire.

The random survey of 1,451 adults ages 18 to 66 was conducted by telephone between Aug.14 and Sept. 14 and has a statistical margin of error of plus or minus 2.5 percent.

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