Pop quiz: When do most people hope to retire?
Ready for the answer?
And the answer, according to a study from January 2022, is…..62!
Surprised? Probably not. It’s not that far off from the traditional retirement age of 65.
But the intended age of retirement is definitely getting lower – the majority of Gen Z says they plan to retire at 59.
Ah, the optimism of youth.
When do you plan on retiring? Actually, here’s another question: If money was not a concern, when would you retire? Would you still work into your 60s, or would you quit your job today? Would you try a new career? Or would you continue to work?
That question may seem like a silly exercise in total hypotheticals, but it is a starting point for many of of our life planning discussions with clients. Even if you know something may not be realistically possible, just talking through why you want it and what it would look like can help you build a financial plan that matches your values and goals.