Tuesday, July 20, 2010

Working, Traveling, and Being Broke in Retirement


    WORKING IN RETIREMENT
According to a recent study by the Pew Research Center, 77 percent of today's American employees include working for pay in their retirement planning as one of their retirement wishes.

Most of those surveyed say they will have a retirement job because they want to, and not because they will have to.

Pew, however, finds those statements out of step with the experiences of people who are actually retired.

Just 12 percent of the retirees Pew surveyed say they are currently working either full or part time for pay at any type of retirement job.

    TRAVELING IN RETIRMENT
92 percent Baby Boomers plan to travel around Australia after they retire, but half of those surveyed don’t feel confident in having the money to do it when they retire.

New research released by ANZ reveals that 92 percent of ‘Baby Boomers’ want to travel around Australia on retirement, with 83 percent planning to engage more in hobbies sports.

However, ANZ’s “New Retirement” survey found almost half of Australians aged between 45 and 64 do not feel confident they have adequate funds to do what they want in retirement (49 percent). With only 24 percent extremely or very confident about their finances.

    RETIREES AND BABY BOOMERS FEAR BEING BROKE IN RETIRENT MORE THAN DEATH!

A report has found only one in four Australian baby boomers are confident they have saved enough money for their retirement.

The ANZ survey shows nearly 50 per cent of people aged between 45 and 64
do not think they have enough saved to maintain the kind of lifestyle they want in retirement.

In contrast, only one-quarter of people in that age group are confident they have enough money to retire comfortably.

At the same time, according to a survey by Allianz Life, 61 percent of the 3,200 American baby boomers and retirees surveyed (ages 44 to 75) said they feared outliving their retirement income and retirement savings more than they dreaded dying.

Perhaps this is the new retirement where people will have to continue working at retirement jobs such as writing and self-publishing books such as

Even so, it is best to retire rich but to die broke.


    NEW RETIREMENT RESOURCES
Here are a few new retirement resources: