The “ideal” age at which one chooses to retire varies from generation to generation, according to research by Naixitis Investment Managers. For Americans, the survey shows that the average retirement age is 62, but the following differences are identified:
- The younger generation (Generation Y), between 25 and 40 – plans to retire at an average of 59.
- The immediately older (Generation X), between 41 and 56 years old – want to retire at 60.
- While, baby boomers, from 57 to 75 years old, state that the ideal age is much higher, at 68 years old.
Related is the fact that 83% of American investors who have not yet retired say they want to have enough savings by the time they retire. The same is stated by 88% of Generation Y, 82% of Generation X and 79% of baby boomers.
However, a total of 41% of respondents say that a “miracle is needed” to ensure financial comfort in retirement. According to research by Naixitis Investment Managers, this is how 46% of Americans feel about Generation Y, 45% of Generation X and 30% of baby boomers.
It is worth noting that the US labor market has been hit hard by the pandemic, in part because many have chosen to retire early. Others were fired and chose not to pursue a new position, others went on unpaid leave. Some also benefited from the boom in US stock markets and were able to secure several savings.
moneyreview.gr with information from CNBC
moneyreview
Follow Skai.gr on Google News
and be the first to know all the news
.
