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Re-Visioning Retirement

Sun America Financial Group

Retirement isn´t what it used to be. It is becoming far more varied, exciting, unpredictable, and, in many ways, more difficult than it was for prior generations. In 2002, Age Wave, working in collaboration with SunAmerica, completed a groundbreaking study of the past, present, and future of retirement. Based on comprehensive interviews with more than 1,000 individuals age 55 and over, the study has critical implications for 78 million baby boomers nearing retirement, offering insights into how these men and women, as well as younger generations, can reach their full potential in the retirement phase of their lives. Key findings included:

  • The concept of retirement as a “winding down” or “extended vacation” is obsolete. Less than a quarter (22%) of retirees agree at all with the idea of relaxing and doing nothing in their retirement years. Rather, they see retirement as a whole new life (38%) or a continuation of life as it is (40%).
  • Retirement no longer means the end of work. Approximately 95% of pre-retirees expect to work in some capacity during their retirement, either by choice or necessity.
  • Satisfaction is directly linked to the number of years one saves for retirement. This correlation was true across all age and income levels.

Moreover, for the first time, this breakthrough research indicated that there are four distinct segments that now define the contemporary U.S. retirement experience:

  • Ageless Explorer: 27% personify a new ideal for retirement. Ageless Explorers consider retirement an exciting new phase in their lives and would rather be too busy than risk being bored. Most seek new work opportunities and wish to contribute to their communities. They feel that they are extremely well-prepared financially and psychologically for retirement and when asked when they thought they would feel “elderly” inside, they responded “never.”
  • Comfortably Content: 19% are living their “golden years.” Comfortably Contents are perfectly happy to live the traditional retirement life, in which they can relax and enjoy the fruits of their labor. Work in retirement is of no interest to this segment—they´ve already done that. They feel secure in their retirement and enjoy spending their money on travel and other leisure retirement activities.
  • Live for Today: 22% enjoy life, feel young, and view retirement as a whole new beginning, with the opportunity for an extended era of personal growth. Unfortunately, after years of living for the “here and now,” they are burdened with regret and worry that they did not adequately financially prepare for retirement.
  • Sick and Tired: 32% are living the worst possible retirement scenario. With fewer financial resources, they have low expectations for the future. Of all the groups, this segment is the least likely to be interested in continued education, community service, or spending more time with their family and friends.

What We Do

  • Keynote Presentations
  • Landmark Research & Consulting
    • Strategic Consulting Overview
    • Landmark Research Overview
    • Landmark Research Studies
      • Longevity and The New Journey Of Retirement
      • The Four Pillars of the New Retirement: Tracking Update with a Spotlight on Family
      • The Four Pillars Of The New Retirement: What A Difference A Year Makes
      • The Four Pillars of The New Retirement
      • Early Adulthood
      • Leaving a Legacy
      • Modern Parenting
      • Widowhood Lifestage
      • Women and Financial Wellness
      • The Journey of Caregiving
      • Finances in Retirement
      • Leisure in Retirement
      • Giving in Retirement
      • Home in Retirement
      • Health and Retirement
      • Family & Retirement
      • Work in Retirement
      • View All Research Studies
  • Educational Programs
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About AgeWave

Age Wave is the nation’s foremost thought leader on issues relating to an aging population, with great expertise in the profound business, social, healthcare, financial, workforce and cultural implications. Under the leadership of Founder/CEO Dr. Ken Dychtwald, Age Wave has a unique understanding of the body, mind, hopes and demands of new generations of maturing consumers and workers and their expectations, attitudes, hopes, and fears regarding retirement.

Contact us at (510) 899-4000.

In the Media

  • Do People Actually Want to Live to 100?January 26, 2023
  • The Role Of Board Service In A Meaningful Post-CareerJanuary 3, 2023
  • NewsmaxHow to Enjoy a Fulfilling Life in Retirement Read Newsmax: How to Enjoy a Fulfilling Life in Retirement | Newsmax.com Important: Find Your Real Retirement Date in Minutes! More Info HereDecember 29, 2022
  • What is a financial power of attorney, and what to consider when appointing a power of attorney?December 27, 2022
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