(travel today because tomorrow you may not be able to)
A recent survey reports that many Americans fear being broke in retirement, yet really don’t want to change the way they live right now. This prompts Viewpoints Industry to take a new look at retirement for tomorrow.
Roughly 55% of those who responded in the survey said they fear not having enough money in retirement. The report from Bank of America’s Merrill Edge report, which is released twice per year, also found that 90% of the 1,000 people they polled do have retirement funds in various forms. Sixty-three percent said that living in moment is important to them while they believe that their standard of living will diminish in the after-work years. Many said that competing financial priorities get in the way of regularly saving for retirement. Some of those priorities are paying for a child’s college education, paying down debt, assisting elderly parents and rebuilding emergency savings after a job loss. Tomorrow’s retirement is much different than that of the Boomer Generation’s parents.
Many people who are nearing retirement age or are fast approaching it are finding a new way to enjoy view the coming years. Those who choose to “live for today” and spend earnings on rewarding vacations may know that they are more physically able to travel farther and enjoy new experiences while their health is good. Retirement is what we make of it whether that means endless games of golf and bridge, or working part-time to supplement any savings stashed away. Viewpoints Industry TV encourages readers to re-think what retirement means to them. Tomorrow is near. Retirement is close. What do you want your retirement to be?