What will your retirement look like?
Will you pack up and move to a warmer climate? Do you want to travel the world? What about volunteering or maybe an encore career?
According to a recent study of more than 11,000 pre-retirees and retirees, the definition of retirement is changing. Among the findings:
- Today’s retirees say the ideal length of retirement is 29 years
- 27% view retirement like their parents did – as a time of rest and relaxation
- 55% now define retirement as a “new chapter”
- 34% view stopping full-time work as the start of retirement; 22% believe retirement starts when Social Security or pension checks start coming; and 17% said retirement hinges on financial independence
- 59% said they want to work in some way; 22% want part-time work; 19% said they hope to cycle between work and leisure; and 18% want to work full time