Survey Finds "Hopeful" and "Peaceful" Attitudes Toward Retirement

When it comes to retirement, does anticipation exceed the event? A recent retirement survey by The Hartford finds that those who are nearing retirement have bigger hopes and bigger, more active plans for their senior years than those who are retired. But that doesn’t mean retirees are less happy. More than three-quarters (77 percent) of retirees said, “I am happier now that I retired” compared to the 64 percent who believe, “I will be happier after I retire.”

The Hartford retirement survey polled 1,964 people ages 45 and older. To qualify, they had to have retired in the past 2-10 years or plan to retire within the same time frame.

Pre-retirees were more than twice as likely as those who are retired to say they were “hopeful” about retirement (26 percent vs. 10 percent).  They were also more likely to harbor expectations of travelling more (45 percent vs. 32 percent).  Retirees, on the other hand, are more likely to “read, watch TV, and relax more” (38 percent vs. 22 percent). An almost equal percentage of pre-retirees and the retired expect to, or are spending more time with family and friends?

Personal finances are of near equal concern to retirees and those who are still working, but pre-retirees still working toward retirement are not surprisingly more likely to expect to have to work part-time for money and/or benefits than their retired counterparts (16 percent vs. 9 percent).

According to an investment survey conducted last November by Millionaire Corner, those still working or who identified themselves as semi-retired were more likely to have adapted their spending and saving habits in the face of market volatility. For example, 36.1 percent said they were purchasing less expensive products, compared with 24.5 percent of retirees. Similarly, 40. 2 percent said they have cut back on so-called luxury goods such as clothing and technology vs. 27.2 of retirees. An equal percentage (66.8 percent) of both groups said that they are shopping more selectively and hunting for the best deals.

Dealing with medical issues and concerns about how they would impact quality of life in retirement were also of equal concern among both groups (21 percent).

Pre-retirees may take some solace from the retirement survey finding that retirees are more than twice as likely to describe their feelings about retirement as “peaceful” (27 percent vs. 26 percent). On an odd note, when asked which celebrity they’d most like to be like in retirement or are like in retirement, the majority responded, “Betty White.”