Mar 10, 2022
In this episode of “Inside the Plan with the 401(k)
Brothers”, Bill Bush and Andy Bush, advisors at Horizon
Financial Group talk about the 21st Annual Transamerica Retirement
Survey, discussing the top 8 retirement dreams of workers, what the
results were of that survey, and then give their feedback into
- 02:26 - One of the main things they always tell people is that
plan for it, and be intentional about your retirement.
- 04:00 –Bill and Andy interviewed and surveyed all of them. It
was interesting as the ideal concepts for all these four groups
were freedom, enjoyment, and stress-free retirement.
- 04:38 – In the survey, it was found that 5% of the polls had no
dreams at all.
- 06:13 – The idea behind pursuing an encore career is that
they've already secured enough for retirement, and now they kind of
got to pursue their interests.
- 08:23 – In the survey, 21% of workers mentioned that they have
the dream of taking care of grandchildren during retirement.
- 10:15 – Further, 51% of the survey respondents said, they would
dream of pursuing hobbies in retirement.
- 11:17 – The 59% of folks cited the dream of spending more time
with family and friends.
- 15:16 - Certain expenses cover your needs that you're going to
have to pay for, and how do you do that if you haven't
Three Key Points
- If you have a plan, goal, and destination, even though some
things may occur that knock you off of your path to that goal or
destination, you're probably going to recover yourself and revert
to your path.
- In the survey, the eighth dream amongst the top eight dreams
was to continue working in the same field; number seven was
pursuing an encore career, something new that you haven't done;
number six was starting a business; number five was taking care of
grandchildren; number four was volunteering; number three was
pursuing hobbies; number two was spending more time with family,
and number one was traveling.
- It's good to get intentional about your retirement and think
about what is retirement going to mean for you?
- “About 17% of the respondents of this survey said they would be
dreaming of pursuing an encore career in retirement.” – Bill
- “Some folks in retirement move closer to their grandchildren.”
- “26% of folks said they would enjoy doing volunteering to keep
them busy.” – Bill Bush
- “Volunteering, giving back to the community certainly builds
that sense of purpose.” – Andy Bush
- “59% of workers dream of traveling in retirement.” – Bill