1 in 5 Americans Over 65 Are Still Waiting to Retire

Nearly 20 percent of Americans 65 or older are still working, and holders of college degrees are finding this extended employment period easier compared to their less-educated peers, reports the New York Post . According to financial experts, both groups would benefit from working at least an additional year to bolster their retirement security. Less-educated Americans often do not have this option even though their retirement savings trend lower. Many are forced into retirement before their mid-60s for reasons such as poor health or the inability to do jobs that require a lot of physical activity. Boston College's Matt Rutledge cites a growing gap in retirement ages between college and high school graduates, which is most apparent when studying the average age of retirement for men. Men with college degrees are retiring at an average age of 65.7, nearly three years later than men with only high school degrees. "We see people intending to work a whole lot longer, but the problem is that for the most part, it's a lot easier for the college graduates to fulfill that plan," Rutledge notes. He says health plays a large role in deciding when to retire, and less-educated Americans tend to have poorer health, and more physically demanding jobs, than their higher-educated counterparts.