More than six in 10 Americans (62%) aged 19 to 39–members of Generation X and Generation Y, in other words–say they have given at least some thought to retirement, according to a recent survey by the Employee Benefits Research Institute (EBRI), and 20% say they have given the matter a great deal of thought.
The survey, entitled “Preparing For Their Future: A Look at the Financial State of Gen X and Gen Y,” was sponsored by the American Savings Education Council, an EBRI program, and Divided We Fail, a coalition involving the AARP, the Business Roundtable, Service Employees International Union, and the National Federation of Independent Business. Around 1,752 individuals participated in the survey, which aimed at getting a sense of how prepared Gen X and Gen Y are for retirement.
About 58% of these young adults say they expect to retire between the ages of 60 and 69. Around 18% say they expect to keep working at their primary occupations until they are in their 70s, and 3% responded they’d likely be working till their 80s. Only 22% overall envision early retirement.