Wednesday, April 04, 2012

Survey: Most Boomers Retired at 65, but Some Keep Working

The MetLife Mature Market Institute reports that the first boomers to reach 65 in the United States--those born in 1946--are "retiring in droves." According to "Transitioning into Retirement: The MetLife Study of Baby Boomers at 65," 45% are completely retired, while another 14% are retired, but working part-time. Of those still working, 37% say they’ll retire in the next year and on average plan to do so by the time they’re 68.

The average retirement age for the 1946 Boomers is 59.7 for men and 57.2 for women. Of those not retired, 61% plan to retire at the same age as they planned one year ago.

With respect to those who are retired, 51% say they retired earlier than they had expected, with 40% of them saying they did so for health reasons. Overall, however, 85% of respondents consider themselves healthy, and 96% of the retirees say they like retirement at least somewhat, with 70% liking it a lot.

Source: MetLife Mature Market Institute Press Release (April 3, 2012)

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