A pause that refreshes: 68% of those surveyed mention relaxing and recharging as reasons for their career break, according to Work in Retirement: Myths and Motivations, a 2014 study by Merrill Lynch and Age Wave. After taking time off, many find work to be more flexible (80%), fun (53%) and fulfilling (36%).
For more stats and insights, download this study and others in the Finances in Retirement series prepared by Merrill Lynch, in partnership with Age Wave. And check in with your advisor about your retirement readiness.
3 Questions to Ask Your Advisor
- How can I financially prepare to start a business or work for myself in retirement?
- Could the income I receive by working in retirement affect my Social Security, Medicare and other benefits?
- How might any income I get by continuing to work in retirement factor into my overall retirement plan?