"A recent paper by the Center for Retirement Research found that 'over 85% of households would be prepared to retire by age 70. Thus, many individuals will need to work longer than their parents did, but they will still be able to enjoy a reasonable period of retirement, especially as health and longevity continue to improve.' ... As Americans live longer, end-of-life expenses -- health care and, especially, long-term care -- are becoming a bigger part of the 'adequacy equation.' Working longer doesn't reduce those costs, unless you work until you die."