Retirement: Better Than ExpectedFebruary 4, 2020
- Our 2019 Retirement Savings and Spending Study results show that your retirement years might exceed your expectations.
- Retirees report having more money to pay for health care and leave to heirs than they originally thought they would.
- When envisioning retirement, workers may take comfort in the positive outlook of this study’s findings.
About eight in 10 retirees say they are enjoying their retirement years more than their primary working years, according to a recent T. Rowe Price study. This survey of retirees who actively participated in 401(k) plans found that they are generally optimistic about retirement, with 86% of older retirees agreeing retirement has turned out to be as good or better than they expected.
New retirees indicated being anxious about having the means to cover health care expenses as well as having their assets last throughout retirement, but these concerns seem to fade with older retirees. Workers looking ahead may take comfort in the positive outlook of this study’s findings.
The findings are based on a 2019 national study of 1,005 current retirees who have a Rollover IRA or left-in-plan 401(k) balance, and 3,016 adults age 21 and older who have never retired and are currently contributing to a 401(k) plan or are eligible to contribute and have an account balance of at least $1,000. Older retirees are defined as those who have been retired for 11 years or more.
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- Learn more about reaching your retirement goals or call to speak with a Retirement Specialist at 1-888‐554‐6444.