A new study highlights ways that Americans are “correcting course” as they cope with changing life priorities on the way to saving for retirement.
According to the Merrill Lynch and Age Wave “Finances in Retirement: New Challenges, New Solutions,” a combination of factors, including increasing longevity and the “massive retirement wave” of boomers, is changing retirement itself with an amplification of “the opportunities and challenges of retirement in America, …. transforming [it] into a time of new beginnings, new challenges and new choices.”
The study caps a series of studies that began in 2012 to look at retirement through seven "life priorities": family, health, home, work, leisure, giving, and finances. It attempts to integrate all seven areas and offers suggestions -- or, for those who've gone down a less-than-effective path, "course corrections"-- for how people can better "do" retirement preparation and saving.
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