Comments

  1. While providing data that confirms much of what we learned about Boomers perceptions toward retirement, this study was completed by Bankers Life & Casualty (likely to promote LTC insurance purchases), and should also be taken with a grain of salt by many senior housing providers. Assisted living, for example, was left completely off respondents options for housing and care The choices jumped from independent living community to nursing home). As with similar AARP surveys, we also know that the majority of people age 49-67, who are still working and often have kids still living at home, will say they would like to remain in their home in retirement. This can have little correlation to the same question when asked at age 75-80+.

  2. Retirement planning, in a financial context, is a planned allocation of monetary savings done with a purpose of managing expenses after retirement. This means setting aside of a part of the current income to obtain a steady flow of cash after retirement. Its goal is to maintain financial independence, so that the need to be gainfully employed becomes optional and not a necessity. It also helps to encourage saving practices.