Their reasons for doing so are varied. Asked to select from a list of all applicable reasons for working in retirement, 70 percent said that working in retirement will help them to stay mentally and physically healthier, while 60 percent said they like feeling productive, and half (51 percent) stated they would be bored without work. Just over a third (35 percent) wish to keep contributing financially to their families, while about a third (32 percent) enjoy their current job.
Whether working or not, many investors (65 percent) expect their quality of life in retirement to be better than their parents’, with three in ten (31 percent) saying it will be much better. However, opinions toward their children’s quality of life in retirement are evenly split, with a third saying it will be better (33 percent), the same (34 percent), or worse (33 percent).
Many investors surveyed (42 percent) are content with their retirement preparation and would not change anything. Nearly three in ten (27 percent) wish they had saved more from the beginning, and 16 percent wish they had started planning earlier.
As for retirement age, sixty percent will retire completely between the ages of 60 and 69, with a third (33 percent) planning to retire and stop working altogether between the ages of 65 and 69. The median expected retirement age of investors in the survey is 65. But a surprising number plan to keep going: 14 percent say they will retire between 70 and 74 years of age, and four percent say they will retire at age 75 or older.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in
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SOURCE John Hancock Financial