Retirement might now be merely an aspiration for some baby boomers. According to a recent Transamerica Center study, 57% of boomers expect to retire at 70 or older, or don’t plan to retire at all.
Traditional retirement might also look different than it does now, as 48% of US workers believe they’ll have a “phased retirement,” where they just wind down their responsibilities and job duties to have more leisure time. The overwhelming reason for putting off full retirement is financial, as 80% of people planning to work past age 65 or work during retirement are doing so for monetary reasons.
