It is no secret that the world looks much different today than it did five years ago. Gone is the housing bubble that too many people thought was going to last forever. Gone is an unshakeable faith in the equity market. Gone are once-seemingly-indestructible Wall Street institutions. Gone are countless numbers of jobs. And gone to a larger degree is a sense of retirement security.
Five years after it released the “New Retirement Mindscape,” in which it introduced the “stages of retirement,” Ameriprise Financial has revisited the study to evaluate “how consumers’ journey to and through retirement has changed.” What Ameriprise found is that the impact of the economic downturn on people’s views about retirement has been profound. In fact, things have changed so much in the last five years that a new stage has developed and another stage has been rechristened.
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