The “old” retirement age of 65 may be going out the window. In an era or low, low interest rates, the opportunity for people to live off their savings income is becoming increasingly difficult. If you retire and put your savings in the bank, earning 1% or less, you have to have a pretty big nest egg to generate the kind of interest income that your parents received from the same amount of money.
It was only recently that the mandatory 65 retirement age was scrapped and today a lot of people reach that age with no slowdown in their work life. Of course it also helps that “work” today is less physically intensive than a century ago or even 50 years ago, allowing people to work longer.