Americans are facing retirement with diminished expectations and an emphasis on protecting their assets, two recent studies find.
According to a survey conducted for
Respondents who expected to work during retirement were evenly split between working at their same career or choosing another. Of the 44% who would make a career change, 19% wanted a less stressful job and 10% wanted a field more closely related to hobbies or interests.
Changing attitudes towards retirement also were reflected in a survey of investing trends by financial decision-makers conducted by
Of the survey's 600 respondents, 76% described themselves as more conservative and risk averse than they were a couple of years ago. An even greater percentage of Baby Boomers nearing retirement age said they were more conservative today (78% vs. 65% of younger consumers) and less likely to invest in products that run the risk of losing money.