Let’s be honest, we all think about retirement, whether it’s a good or bad thought it’s still on your mind from time to time.
But did you know that the average age for retirement is no longer 65?
*Over the past 17 years, this number just keeps increasing. In 1995, 60 was the key target, it went up to 64 in 2005 and the number just keeps climbing.
*Currently, the average retirement age is 67, up from 66 in 2011.
The percentage of workers who think they will be able to retire early has significantly decreased over the past five years because of the recession and financial concerns…
But, can anybody see the light at the end of the tunnel?!
Yes! There’s hope!
**A recent survey found that Baby Boomers are leaving the work force on time! For boomers born in 1946 (the first of that generation to reach the retirement age) 59% were either fully or partially retired by age 65.
**For those of you thinking that retirement may never come, this generation may be proving you wrong! 2/3 of those surveyed are already collecting Social Security benefits and 96% like the idea of retirement at least somewhat.
Retirement means something different to everyone. Think about what it is that you want to do when you stop working and what will really make you happy. That is how you need to plan for your future, whether you want to vacation and travel or volunteer and take up your old hobbies, each vision takes time to complete.
The study shows this group of Boomers won’t consider themselves old until they’re 79, leaving a lot of time to do the things you’ve always wanted to do in life! Enjoy!
*U.S. News & World Report LP
**MetLife Mature Market Institute
-SN