Sample Benefit Analysis

experiencing more health issues than they anticipated, or having difficulty paying for things like
long-term care, are feeling like retirement is not like they thought it would be."
You can maintain your current standard of living
The majority of employees age 50 and older (62%) expect to be able to maintain their current
standard of living in retirement. But unless you saved very diligently, you may have to make some
spending cuts in retirement. More than a third (35%) of retirees say their financial ability to live
comfortably is worse than it was while they were working.
"A lot of people retire and they discover that the amount they thought they would need to live
comfortably is not the amount that their investments and Social Security and their house end up
yielding them," says Blendon. "People are not looking forward enough in terms of the health issues
they will face and the actual financial income they are really going to have."
Most retirees (63%) say you need an annual income of $50,000 or more to live comfortably in
retirement, and more than a third (35%) admit they do not currently have their target level of
income. Health care expenses are a major problem, with one in five survey respondents saying he
or she will have trouble paying for health care.
You'll improve your relationship with family members
Many current workers expect their relationship with their spouse (45%) and other family members
(40%) to get better in retirement. But only just over a third of seniors report an improved
relationship with a partner (34%) and other family members (35%). Most retirees say their
relationship with family members (61%) and their spouse (62%) stayed the same in retirement.
Retirement is a choice
We like to think that we will be able to retire when we hit a certain age or savings goal. Most current
workers (60%) expect to retire at age 65 or later, often because they need the money or health
benefits from their job, but also because they enjoy working and want to make a difference. But
only about a quarter (26%) of retirees held on to their jobs that long. Retirees (58%) generally say
they left their jobs at the same or an earlier age than they initially thought they would, perhaps due
to a layoff, buyout or health problem.
Public Sector Retirement Educators - Betty Boettcher - 800-587-7476 Page 6 of 56