Is Early Retirement Going the Way of the Dodo Bird?

October 2004
Journal of Financial Planning;Oct2004, Vol. 17 Issue 10, p24
Academic Journal
This article reports on a survey by John Hancock Financial Services of defined-contribution plans in the U.S., as of October 2004. The average age at which people said they expected to retire rose to 64.4, versus age 61 in the 2002 survey and age 60 in 1995. Nearly 18 percent of respondents said they do not expect to be able to retire until age 70 or older, triple the 1995 survey results. While the study attributes some of this to the hangover of the down market years of 2000-2002, the surveyors believes much of the pessimism is due to the fact that respondents have done minimal retirement planning and are coming to a deeper realization that they have not saved enough for an early retirement.


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