TODAY   |  September 28, 2013

More Americans working after age 65

It's not your grandparents' -- or even your parents' -- retirement anymore. According to studies, more retirees are working after 65. NBC's John Yang reports.

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>>> 65 used to be the magic number of the age when people would give up working for good and pull out the golf clubs but these days, more and more people are putting their retirement plans on hold and some are doing it, they say, permanently. john yang has one couple's story.

>> has are you guys? good morning.

>> reporter: an age many are looking to kick back and relax, barbara and her husband get up early and go to work. barbara heads to her job as a computer software company. bob, 69 and an engineer commutes down the hall to a home office . it's not the life they imagined.

>> it isn't, i think, the way we pictured it when we were young. i'm sure when we were young we never thought we would be looking past 65.

>> joo they contributed to 401(k)s and put money away but took a hit in the stock market .

>> we had this nest egg and we always thought that was going to carry us through and we lost a lot.

>> reporter: a far cry from their parents' retirement more than three decades ago.

>> he didn't have a lot of money when he first retired but the cds were paying 17% which is not bad. what do we have now? 0.25? it's like nothing.

>> reporter: the 2012 survey found fewer than half of americans age 50 to 70 were confident they would be able to retire. the biggest worries? low interest rates on savings and stock market losses and a drop in real estate.

>> you look at how much your assets will generate in terms of income.

>> reporter: the levines have turned to a financial planner who helped them cut spending and eliminate credit card debt .

>> if people on not spending they would be doing much better.

>> reporter: the levines enjoy their jobs but have a new retirement goal.

>> i'm working four more years and when i'm 70, i will be done.

>> reporter: how confident are you you will be able to do it comfortably?

>> i don't know. i hope we will be okay. we're doing everything we can, but it's a big unknown and it's scary. are you ready?

>> reporter: the payoff is clear -- less time at work, more time with the grandkids. for "today," john yang , nbc news, north brook, illinois.