Consumers have unrealistic expectations about retirement, including when they will retire, how much money they will need and where it will come from, according to a survey by Genworth Financial Inc.
The study revealed that 73 percent of pre-retirees are confident they will retire as planned, but only 48 percent of retirees actually leave the workforce when they expect. Out of more than 1,300 people surveyed, including 700 retirees, 46 percent said they had to retire sooner than planned.
Job loss, health and family issues were the primary reasons for individuals to leave the workforce early. One-quarter of respondents said they retired early because they just didn't want to work anymore.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
