Thursday, July 7, 2022

Retirement is Being Reimagined By Boomers and Generation X

This ain’t your parents’ retirement.

A new study conducted by Edward Jones in partnership with Age Wave reveals that people retiring soon or who have just retired see their parents’ version of retirement as a time for “rest and relaxation.” The study, ““Longevity and the New Journey of Retirement,” also revealed that of this same group, when asked about their own retirement now and in the years to come, only 27% see their retirement as similar to what their parents retirement was like, reports finance.yahoo.com.

A whole 55% of this group see their retirement not as time devoted to R&R, but rather as a “new chapter in life.” Principal of branch development at Edward Jones, Ken Cella, shared with Yahoo Finance that while these adults don’t see their retirement in the same vein as their parents’ or grandparents’, they face new challenges when it comes to health, finances, and “finding a new definition of purpose.”

The study, which surveyed online in January and February of this year more than 11,000 people aged 45-plus who are retired or are within 10 years of retirement. For more findings from this study, read the Yahoo Finance article here.

Read more:

Six Things to Consider When It Comes to Planning Your Retirement Finances

Boomers Are Finding Unique Ways to Fund a Better Retirement

More Older Adults Are Going Back to School During Retirement

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