I have been reading a lot about retirement lately. Of course being in the retirement industry it would be natural to read a lot about retirement but this time it was different. As I was reading about retirement the thought came to me, “Do people still wish to retire?” I thought this question would be easy to answer for most people but after reading and diving into it deeper that may not be the case. Here are some of my findings.
The average U.S. retirement age rose to 61 from 57 just two decades ago and more than likely it will continue to rise according to Gallup’s Economy and Personal Finance survey. What’s crazy is that the average non-retired American is now planning on retiring around 66. that’s up 6 years from 1995. The average non-retired American now plans to retire at 66, up from 60 in 1995, according to the Gallup survey.
After seeing some of that survey it spurred another thought in my mind. What trend are we seeing on Google for phrases like retirement, financial advice, financial advisor and personal finances and the trend seems to be quite consistent. The trend is for sure not going up.
These keywords are not being searched as much as they were four years ago. Why is that? Is it because we are caring less about retirement? Is it because we feel like there is no such thing as retirement anymore and that we will have to work the rest of our lives? Is it because younger generations view retirement differently than older generations? Why are people caring less about retirement? I know that for me, I prefer retirement. There are so many things that I would love to do and it doesn’t always involve work. I love work don’t get me wrong but I am just not so sure I want to work when I am 65.
If this post does anything for anyone I hope it helps you think about your own retirement. Do you have an IRA or 401k? Are you making IRA or 401k contributions? Do you want more control over them? Do you want to invest in other things than the stock market with your retirement accounts? If so, you need to look into a self-directed IRA. They allow you to invest in non-traditional investments like businesses, real estate, gold, silver and other precious metals.
This article was updated on March 28th 2017 from it’s original posting date of September 24th 2013, with new data, and images to provide new information.
Author: Nick Barker.