The survey, conducted annually since 2019, highlights a stark contrast in retirement expectations between pre-retirees, especially Gen X-ers, and recent retirees. While over half of Gen X-ers express skepticism about retiring on their own terms, recent retirees report satisfaction, with 72% stating their retirement is as planned. The article emphasizes the shift from traditional retirement income sources like pensions to personal savings, especially in light of increasing living costs and unexpected health care expenses that challenge retiree finances. Rita Assaf from Fidelity draws attention to the crucial need for early financial planning amid these changes.
The shift toward relying on retirement savings heightens the importance of grounding yourself in a financial plan as early as you can.
Just over half (53%) of Gen X-ers are confident they will be able to retire on their own terms, and one-third say they may work in retirement.
Collection
[
|
...
]