The Retirement Reset Study is a joint effort by the Sun Financial Group and Age Wave. Their key study finding is we are entering a new phase of retirement they call Retirement 3.0, which they define as:
"A productive, purposeful and challenging new chapter in life - blending work and leisure - with opportunities for personal reinvention and continued social engagement."
A big part of this new retirement is the inclusion of work. Their survey showed 65% Americans aged 55+ plan on working in retirement.
But most people don't want traditional jobs. They want very flexible work. According to the study, only 4% want full-time work and only 25% want part-time work. Key quote on the the largest group, 36% of respondents:
"...want to go back and forth between periods of work and leisure to suit their new lifestyle needs"
This is a degree of flexibility not often found in today's workplace. But we've seen examples of people creating this type of work. It will be interesting to watch this trend and see if it takes off.
The other interesting finding is the expected age of retirement has increased substantially over the last decade. According to the study, the respondents expect to work to age 69. This is up 5 years from a similar study done by Age Wave in 2001.
Aging baby boomers choosing to work for or start small businesses instead of pursuing traditional retirement is topic we've written a lot about over the years. This study shows this trend continues to gain strength.