A new survey conducted by investment advisory firm Edelman Financial Engines reinforces a trend in how Americans think about retirement: specifically, they imagine these years to be more active, more purpose-driven, and more personalized than ever before.
Why it matters: Edelman found that retirement is no longer viewed simply as a time to slow down.
- Instead, Americans are planning for reinvention, family time, travel, and exploration.
- Nearly 4 in 10 (39 percent) say they want an adventurous retirement; 42 percent say they want to stay active; and a growing number envision a minimalist (26 percent) or nomadic (24 percent) lifestyle that does not tie them down.
Go deeper: When asked to choose between adding $1 million to their retirement savings or adding five extra healthy years to their life, 51 percent chose the money.
What’s next: In the most recent episode of the “Decoding Retirement” podcast, Robert Powell speaks with Andy Smith, executive director of financial planning at Edelman Financial Engines, about the research.
