What You Need to Know
- Many of today’s 50-plus investors like streams of income.
- Some hope to work into their late 70s, or later.
- Memories of the 2008 market crash linger.
Known for their rebellious spirit and risk-taking mentality, the 50-and-over generation is now looking for a bit of certainty.
As this demographic continues to redefine what it means to age successfully, they were faced with a full menu of significant stressors — one after another. A global pandemic, political turmoil, civil unrest, economic uncertainty, social isolation, and a rush to vaccines remain a lot to absorb.
Jackson recently commissioned research that involved surveying 804 men and women aged 50 to 70 in five major U.S. markets. The data was then compared with results of a survey the publisher Ageist conducted in October 2019. The sentiment the new study revealed can be described as sustained consumer confidence mixed with a growing feeling of financial vulnerability and a desire for financial expertise.
The following represents the collective voice of our survey participants.
What keeps us up at night?
On the surface, we look and sound just fine. While we are still secure in our experience, recent events have been overwhelming at times. We’re seeking positive ways to destress and areas where we can bring more certainty into our lives.
- “There is a bit of vulnerability in everything. It feels like uncharted territory.” (male, 68)
- “The market has been so vulnerable, and I have experienced some loss. I am currently evaluating more stable products with my financial advisor.” (female, 69)
- “I check my 401(k) all the time. I’m nervous because I am close to retirement and I remember the 2008 crash when some of my retired friends had to go back to work. That stuck with me.” (male, 60)
If one more person asks when we’re retiring, we might scream.
Our days are not spent dreaming about retirement parties. In fact, being asked when we plan to retire is insulting. While we plan to fully retire at some point, today we are working, starting new ventures, and exploring passions long put to the side.