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:
Myth #1: People won’t retire until they have enough money.
Myth #2: Retirement means spending time with your spouse.
Myth #3: Many retirees are struggling to get by and living with regret.
Myth #4: People work in retirement because they have to.
Myth #5: Retirement is all about traveling and pursuing hobbies.
#2 made me smile…sorry fellas, but our wives are more interested in spending time with the grandkids than with us.
Check out Fidelity’s summary What Drives People to Retire Isn’t What You Thinkfor details on each of the 5 myths. It’s a quick read and worth your time.