Surya Kolluri and Cynthia Hutchins
WP2016-14
As more and more Baby Boomers turn 65 and reach retirement age, they are reshaping the landscape of the retirement phase with a shift in their mindset; they are pursuing old dreams, exploring new opportunities, and thinking about retirement in an entirely new manner. Bank of America Merrill Lynch partnered with Age Wave to examine how Americans are preparing for retirement and analyze the seven life priorities that are most important to today’s retirees: Health, Home, Family, Work Giving, Finances, and Leisure. Although there is much optimism and opportunity that comes with this new wave of retirement, there is new concern as well. As the average lifespan increases, health issues are also becoming more prevalent. In this piece, we explore the many issues, both positive and negative, that both create and are a result of this new take on the retirement life stage.