Life Insurance Needs Calculator
That gold watch may need to wait, as more and more Americans are postponing retirement longer amid continued financial uncertainty.
According to a new report issued by MetLife Employee Study, changing target dates for putting away work clothes and heading off to retirement are constantly changing. In fact, according to MetLife’s 9th annual Employee Benefits Trends Study, four out of 10 employees have changed their predicted retirement date since just last year. Further, almost 60 percent of workers in the study expect to beyond the age 65. This compares to 52 percent who expected to work past age 65 a year ago.
The reasons for the change in retirement expectations are not at all surprising. For starters, Americans are living longer and retirement at traditional ages may mean that people are realizing they need to save more for longer to be able to maintain a preferred quality of life after leaving the workplace. In addition, concerns about the economy have kept individuals on the payroll for longer.
In some cases, workers are also concerned about whether their retirement nest egg will truly be available to them when it is their turn to collect.
As part of the annual study, MetLife uses the information gathered from individuals taking the survey to communicate back to employers that there are ways employers can help employees save money. Human resources professionals are encouraged to provide information to employees about making sure they are not only taken care of in their so-called golden years of retirement, but that they also take steps to protect their families in the present with appropriate life insurance and other insurance plans as appropriate.
At Compass Quote, we can help you find the right senior life insurance that meets your needs today and into the future. Give us a call today!
Albert is a term life insurance expert and provides great insight for people looking to get the most out of their life insurance policy.
