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Planning Your Retirement? Expect the Unexpected

Jan 10, 2018

Key Takeaways

  • A good rule of thumb is not to expect your retirement to go according to plan.
  • Your health could be the biggest culprit to a long-lasting retirement.
  • Don’t go it alone – financial advisors can help put primary and backup plans in place.

 

Even the best-laid plans don’t always work. Prudential’s research study found that about half (51%) of retirees retired earlier than planned. While early retirement may seem like welcome news, only 23% retired earlier than planned because they either had enough money to retire, wanted to retire, or were tired of working. Forty-six percent of those who retired earlier than expected did so due to health problems, 30% were laid off from their jobs or offered an early retirement incentive package, and 11% left work to take care of a loved one.1

So, the vast majority of individuals who retired earlier than planned did so in response to factors that were partially or fully out of their control.

 

Read the Paper

Learn more about the vast majority of individuals who retired earlier than planned in Planning Your Retirement? Expect the Unexpected  .

1 Survey responses total more than 100%, because respondents could select more than one reason.

 

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