A new glimpse into how middle-class people in the U.S. think about retirement is revealing some startling views about how long they expect to live and to work. About half of middle-income Americans who are currently employed say they expect to work past age 65, according to a study from the Transamerica Center for Retirement Studies and the Transamerica Institute.
MLE Note: This is a popular topic and one that is often written about. It is also important to also consider what you will do in retirement and how you will spend your time among other questions. Clients need to connect what their life in retirement will look like with the money they have saved to understand if it will support their lifestyle. That provides confidence and peace-of-mind in making the transition. Retirement can last a long time. For some people, perhaps shifting to work that is more satisfying and one that can be done for a longer time and that is more flexible with a work/retirement life balance.
Unfortunately, this is more easily said than done. But with a little pre-retirement planning, clients at least have options.
