How Boomers and Gen X Are Redefining Their Golden Years

The traditional notion of retirement—working until 65 and then suddenly stopping—is becoming a thing of the past. Recent findings from the WTW 2024 Global Benefits Attitudes Survey reveal that one in three workers aged 50 and older (34%) are either already transitioning into retirement or planning to do so gradually.

The survey of 10,000 U.S. employees identified several key factors driving this shift:

• Financial security concerns (76% of respondents)
• Health considerations (50%)
• Desire for more family time and leisure activities (45%)

Today’s retirees face a different landscape than previous generations, with fewer defined-benefit pensions, longer life expectancies, and increasing economic uncertainty. However, this shift toward phased retirement isn’t solely driven by necessity. Many workers find that gradually reducing their work hours or responsibilities provides a better work-life balance and maintains a sense of purpose while supplementing their retirement income.

Among those already transitioning to retirement:

• 61% have reduced their work hours
• 41% have opted for fewer job responsibilities
• Others are exploring role changes or adjusting their work arrangements

At J. Blum & Associates Wealth Management, we understand these changing dynamics. We can help you create a retirement strategy that aligns with your goals, whether that involves a traditional or phased approach.

For a deeper dive into these retirement trends, read the full article in Newsweek.

Contact us today to discuss how we can help you navigate your retirement journey in this evolving landscape.

The foregoing material is for information purposes only and does not purport to be a complete description of the material referenced herein, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but there is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Any opinions are those of J. Blum & Associates Wealth Management and not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. There is no assurance that any investment strategy will be successful. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. Every investor’s situation is unique, and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

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