The world of retirement is changing as we know it. No longer do people retire before they turn sixty years old and expect to have all expenses covered. In fact, many now view retirement as an unattainable aspiration that is nearly impossible to achieve. Northwestern Mutual recently released a 2015 Planning and Progress Study that evaluates current retirement trends while also looking at the opinions of those who are already retired or plan to do so at some point or another. Gathered are their findings:
- When asked, many individuals admitted that they expect to be working until they are 68 years old. This means that the average retirement age has increased by a decade. However, research shows that these numbers do not necessarily mean people must work until they are 68, but rather they would like to work until they reach that milestone.
- Likewise, nearly half of people surveyed admitted they would like to continue working during retirement due to mere preference.
- When questioned, one in ten individuals expressed worries of never being able to retire.
- Of those questioned that are already retired, 84 percent said they are happy, and 60 percent said they are happier now than when they were working the daily grind each day.
- Nearly 45 percent of retirees surveyed admitted that they did not anticipate the continuous rise in healthcare costs during retirement.
- Four in ten individuals age 60 and over surveyed expressed worries that they would have to work until the age of 75 before retirement could be considered.
Contact SeniorChoices NW in Wilsonville for all of your Oregon insurance coverage needs. We will help you obtain the insurance protection you deserve so that you can enjoy retirement without a worry in the world but living life to the fullest.