Working Longer Has Biggest Impact on Retirement Income, Not Market Returns: Study

Working longer has the biggest impact on sustaining standard of living in retirement, not market returns.

Vanguard research shows retiring at 70 instead of 65 can increase sustainable income 15+ percentage points.

Median workers have little invested for retirement and in equities, so market returns have small impact.

Accessing home equity only improves sustainable income a few percentage points.

Working just 1 more year improves sustainable income 3 points; 5 more years improves it significantly.