The Retirement Generation Gap

Few milestones in life are as laden with dreams and fantasies as the day when a person retires. Will it be a slow downshift into a life of travel and time with grandchildren? A chance for gradually increasing immersion in a lifelong hobby? Perhaps it will be all of the above. Or perhaps future retirees' experience will be more in line with the reality of retirement as depicted in a new report by the Transamerica Center for Retirement Studies. The study found that two-thirds of workers aged 50 or older expect to work past 65, at least part time, but the median age at which current retirees left the workforce was 62.