Think you know what drives people to retire? Fidelity Investments and the Stanford Center on Longevity recently surveyed more than 12,000 retirement savers and recent retirees (age 55+), revealing the key financial, emotional, and social factors that influence the retirement decision. According to their findings, here are the top 5 misconceptions about what and how people think about retirement:
Pleased to be quoted in Cliff Goldstein’s June 25, 2014 article in the Wall Street Journal’s MarketWatch:
Most of us look forward to a life of leisure when we retire, a time when we can follow pursuits that time and responsibilities didn't allow during our "working years." But it's quite common for retirees--and especially those who retire early--to discover that these pursuits only satisfy for a time. Something is missing and they need a new sense of purpose, a new "passion." Such was the case with retired management consultant Bob Lowry who discovered his new purpose in mentoring prisoners. His story at www.nextavenue.org is worth a read: http://www.nextavenue.org/article/2012-05/finding-my-retirement-passion-landed-me-prison
One of the biggest lessons of the recent economy is that many people who thought they were financially ready for retirement…weren’t.