A majority of younger Americans expect to work after they retire and to do so because they want to stay active and involved, according to research released Monday by T. Rowe Price.
Researchers found that 69% of adults between the ages of 21 and 50 planned to work full-time or part-time during retirement, and of those only 23% will feel compelled to do so to supplement savings.
“Beginning with the Baby Boom generation, a new vision of retirement has emerged—one that includes an active lifestyle and, for many people, continued work or even a second career,” Christine Fahlund, senior financial planner with T. Rowe Price, said in a statement.
“This survey suggests that, looking ahead, many younger investors are ready to adopt this relatively new approach to retirement, as well.”
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Harris Interactive conducted an online survey in December on behalf of T. Rowe Price among 860 adults aged 21 to 50 who have at least one investment account.