I recently read an article from USA Today about retirees’ satisfaction with retirement, which focused on a 2016 study by the Employee Benefit Research Institute (EBRI).
Here is the link:
I think the satisfaction information is interesting, but I am not sure I agree with all of the author’s conclusions. I do think that saving for retirement is essential and I know that will not surprise anyone. I also firmly believe that a fulfilling retirement is about more than money. The happiest retirees that we work with are involved in activities and spend time with their families during retirement. Some days I can’t wait to have grandchildren because the stories I hear make them sound much more fun than children (no offense to my kids if they ever read this).
I believe fewer people are satisfied during retirement due to the decline of pensions in the U.S. Most retirees today either do not have a pension or have a small one that cannot cover their living expenses. In many cases their savings in retirement accounts and other investments may be plentiful, but the uncertainty that comes with creating your own monthly income can be stressful.
I wish retirement was easy, but what major life transition is easy? As someone who focuses on helping retirees every day, I want all of our clients to be “extremely satisfied” with their retirement. I would love to hear from you about what we can do. How can we improve your satisfaction? How can we make your retirement better? If we can’t help, what kinds of things could help? These questions are not rhetorical! Send me an email so we can know how to better serve you.
From the desk of Kris CarrollRetirement Income