Older generations might consider retirement as something they do when they reach a certain age or when they aren't able to work any longer, but millennials don't seem to be looking at it that way.

That's according to the latest Merrill Edge report, which found that a sizeable chunk—41 percent—of the millennial generation views a financial milestone or savings goal as the trigger that will shoot them off into retirement. That's unlike their elders, who approach the end of their working lives differently.

The survey of more than 1,000 mass affluent Americans also found that millennials are looking to retirement as more of an adventure than their elders, with 53 percent seeing it as the start of something exciting. Millennials are also aiming for different priorities during retirement, with 21 percent looking forward to setting new goals in retirement; 10 percent intend to pursue a passion; 7 percent want to go back to school; and 4 percent are planning on starting/growing their own business.

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Of course, it remains to be seen what millennials will actually be able to do come retirement day—because, when it comes to retirement itself, people who have already retired found that they were in for some surprises.

When asked what they have done in retirement that they didn't expect to, their top response was "spent more money than anticipated" (30 percent), followed by "moving to a new location" (19 percent) and "feeling a lack of purpose" (18 percent).

And their priorities are different from those of people still in the workplace. Retirees' top priorities include maintaining their standard of living (29 percent), followed by spending time with loved ones (27 percent) and maintaining their health (23 percent). Nearly one in five preretirees, on the other hand, hope to make traveling the world their top retirement priority—but only 5 percent of retirees have prioritized traveling.

"Today's retirees tell us they are experiencing a very different retirement than nonretirees are envisioning," Aron Levine, head of Merrill Edge at Bank of America, said in a statement. "With continuing savings challenges and potential economic uncertainties ahead, nonretirees should have a plan in place and regularly revisit it to make sure it still aligns with what's most important to them for their retirement years."

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