Americans expect to work much longer than they would like. Here's why.

MoneyWatch Americans expect to delay retirement by 4 years as cost of living rises, study finds .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Read Full Bio Aimee Picchi April 8, 2026 / 10:02 AM EDT / CBS News Add CBS News on Google Americans expect to work about four years longer than they'd like as rising living costs and health care expenses reshape their retirement plans, according to new research from Economist Enterprise.Only 1 in 5 workers say they want to stay in the labor force longer because they enjoy their jobs, according to the report, which was published with support from investment firm Nuveen. Nearly half of the respondents cited living costs as the main reason they expect to delay retirement.The findings are based on a survey of 2,063 full-time U.S. workers at midsize and large companies.Short-term needs swamp long-term goalsFinancial pressures are reshaping retirement timelines, raising the risk that more workers will need to stay employed well into their later years to make ends meet. The study also found that about one-third of workers have taken a loan from their 401(k) or made a hardship withdrawal. A record share of Americans tapped their 401(k) plans last year to cope with financial emergencies, according to investment giant Vanguard.Those early withdrawals, which can incur penalties, may be one reason many people delay retirement, said Matt Terry, a project manager at Economist Enterprise who worked on the study."People are willing to sacrifice their long-term goals for some of their short-term needs, and that's probably contributing to the cause of delayed retirement,"...