Millennial Money: The evolution of retirement — and what it might mean for you
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “While bond yields are much better than they were a few years ago, I don’t necessarily think I can get clients 20 to 30 years of sustainable withdrawals if I’m that bond heavy.” YOU MAY CHOOSE TO KEEP WORKING The number of adults age 65 and older who are working is almost twice the number who were working 35 years ago, according to a 2023 Pew Research report. “The thought of moving to no more income coming in — that’s really stress provoking.” Valega also encourages clients to pursue work and other activities so they don’t go stir-crazy. “You can exercise, and that’s great and you should, but beyond that you need some amount of mental stimulation.” YOU MAY WANT TO SAVE FOR IN-HOME CARE Most adults age 55 and older want to age in place, according to a 2023 survey from the McKinsey Health Institute. “Older workers are growing in number and earning higher wages.” https://www.pewresearch.org/social-trends/2023/12/14/older-workers-are-growing-in-number-and-earning-higher-wages/ The McKinsey Health Institute survey canvassed more than 21,000 adults age 55 and older across 21 countries.
History of this topic
Brits heading into retirement receive major boost - as 70 has become the new 60, scientists say
Daily Mail
Gen-Z adults ‘more likely than Millennials to have a five-year financial plan’
The Independent
Decision to progressively raise retirement age unveiled
China Daily
Decision to progressively raise retirement age unveiled
China DailyAffluent Americans are driving US economy and likely delaying need for Fed rate cuts
Associated PressAbout 1 in 4 US adults 50 and older who aren't yet retired expect to never retire, AARP study finds
Associated Press
Lowering the retirement age won’t save US seniors
BBC
Age UK highlights evidence of ‘great un-retirement’ as living costs bite
The Independent
What today’s retirees want future retirees to know
CNN
Millennials turn 40 this year and people are not happy
The Independent
Layoffs leave people close to retirement groping in the dark
Live Mint
High-earning millennials expect greatest rise in incomes
Live MintRetirement can be boring but working keeps you stimulated, say older workers
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