The Retirement Financial Readiness Opinion Council's (RFROC) latest study entitled 'When Will the Baby Boomers Really Retire?', answers this question on many levels. Research is based on feedback from panelists throughout North America, representing all ages, genders, income levels, and geographic regions.
Older Baby Boomers have been saving for their retirement for forty years. "They are about to shift and begin taking distributions to live their retirement dreams," stated Bruce Hurwitz, RFROC President, who goes on the say, "It is critically important for financial services companies to understand the coming retirement account outflow phenomenon, and to develop plans for attracting new sources of investment assets."
In addition to studying retirement age plans and plan distributions, this study looks at Baby Boomer thoughts on continuing to work outside the home after retirement, retirement living destinations and retirement income sources.
Source: Business Wire, March 14, 2007