Retirement Expectations–and Realities
By Paul J. Lim
Posted 3/12/07
At What Age Do You Plan on Retiring?
| Workers | |
| Before 55 | 6% |
| 55-59 | 7% |
| 60-61 | 10% |
| 62-64 | 10% |
| 65 or older | 52% |
| Never | 7% |
At What Age Did You Retire?
| Retirees | |
| Before 55 | 13% |
| 55-59 | 16% |
| 60-61 | 11% |
| 62-64 | 23% |
| 65 or older | 24% |
| Never | 7% |
Source: Employee Benefit Research Institute, Mathew Greenwald & Associates
What Is the Primary Reason You Retired Earlier Than Expected?
| Illness or disability | 40% |
| Buyout package was offered | 14% |
| No longer wanted to work full time | 12% |
| Qualified for full benefits | 9% |
| Needed to care for relative | 5% |
| Reached savings goal | 1% |
Source: Fidelity Research Institute
More Money Matters:
• Money Matters: Saving to Bridge the Retirement Gap
• Baby Boomers Outpace Gen X-ers