|
|
|
|
Situated at the intersection of generational values and external influences, new research by the Sun Life Financial UnretirementSM Index shows that attitudes of both older (Boomer) and younger generations (Gen X) in the U.S. regarding retirement are evolving. One notable research finding reveals a privileging across generational lines of mental engagement as the major motivation cited for expectations regarding plans to work past traditional retirement age. A second finding indicates that at the same time, there are divergent expectations between the generations concerning the projected age for retirement. Read full white paper Read Dr. Orsborn's Bio |
 |
Sun Life Financial's UnretirementSM Index shows that retirement at an early age may soon be a thing of the past. According to the survey, half of today's workers plan to work beyond age 67 - a dramatic reversal of the postwar trend toward early retirement. These plans to delay retirement reflect a desire to stay mentally engaged, but also real anxiety about financing retirement. Workers are very worried about their ability to rely on two historic mainstays of retirement - Social Security benefits and employer-provided benefits. Indeed, fewer than half of workers express strong confidence in being able to cover the basics in retirement, let alone live it up in retirement. The survey also shows that retirement confidence varies considerably from worker to worker depending on economic and demographic factors. Older workers seem more aware of and concerned by a retirement-financing gap, but neither young or old workers are eager to work harder or longer to close this gap. Instead, they express a willingness to cut spending, which may signal a change in future saving behavior. |
