Retirement Ahead? Plan Now

Column distributed by Hearst Connecticut Media Group.

Links to resources referenced:

• F&G Annuities & Life: Retirement Reconsidered
  • https://www.fglife.com/research-2025  
    • Related column excerpts:
      • “You might not be as ready for it as you think, according to a new survey by F&G Annuities and Life Inc. Among workers who are over the age of 50, not yet retired and have $100,000 or more in financial products or savings, 70% of respondents said they were considering pushing back their retirement date.”
      • “The third-annual Retirement Reconsidered survey, which polled 2,000 U.S. adults in May 2025, indicated that 23% of pre-retirees said they were definitely pushing back their retirement date. The reasons included being worried that they wouldn’t have enough money for retirement (cited by 48%) and inflation (44%).” 

• Fidelity Investments 2025 Retiree Health Care Cost Estimate
  • https://newsroom.fidelity.com/pressreleases/fidelity-investments--releases-2025-retiree-health-care-cost-estimate--a-timely-reminder-for-all-gen/s/3c62e988-12e2-4dc8-afb4-f44b06c6d52e
    • Related column excerpt:
      • “A 65-year-old person retiring in 2025 can expect to spend an average of $172,500 in health care and medical expenses throughout retirement, according to a finding in the 24th annual Retiree Health Care Cost Estimate by Fidelity Investments. Contrast that with Fidelity’s inaugural $80,000 estimate (2002) -- it’s an increase of 115.6% during that time span.” 
• National Association of Plan Advisors: “New ‘Retirement Mindset’ Driving Savings Behavior”
  • https://www.napa-net.org/news/2020/2/new-retirement-mindset-driving-savings-behavior/
    • Related column excerpt:
      • “A 2020 white paper by the Empower Institute, which studies retirement strategies, indicated that 83% of pre-retirees expect to ‘live their best life’ in retirement. But expectations sometimes fall short of reality.”  
• MassMutual Research: Most Retirees are Happier in Retirement vs. Working Thanks to Financial Preparation, but More than One Third Report Feeling Lonely
  • https://www.massmutual.com/about-us/news-and-press-releases/press-releases/2024/03/massmutual-research-most-retirees-are-happier-in-retirement
    • Related column excerpt:
      • “For example, while 77% of pre-retirees (15 years or fewer before retirement) said they anticipate they will feel happier on a typical day in retirement, fewer (67%) current retirees (15 years or less into retirement) said they are happier, according to a 2024 MassMutual Retirement Happiness Study. That’s still meaningful.” 
• Center for Retirement Research at Boston College: What Makes Retirees Happy?
  • https://crr.bc.edu/what-makes-retirees-happy/  
    • Related column excerpt:
      • “You never really know who will have a positive experience. However, studies do show that if people voluntarily retired, they expressed much higher levels of well-being compared to those who did not voluntarily retire.” 
• Fidelity 2025 State of Retirement Planning
  • https://preview.thenewsmarket.com/Previews/FINP/DocumentAssets/690616.pdf  
    • Related column excerpt:
      • “For example, Fidelity’s 2025 State of Retirement Planning report offers important tips from current retirees for those people who are five to 10 years from retirement. They include paying off your remaining debt (mortgage, credit cards), maximizing your contributions to retirement accounts, planning for health care costs and practicing living on a retirement budget.” 
• McKinsey & Company: “Author Talks: The world’s longest study of adult development finds the key to happy living”
  • https://www.mckinsey.com/featured-insights/mckinsey-on-books/author-talks-the-worlds-longest-study-of-adult-development-finds-the-key-to-happy-living
    • Related column excerpt:
      • “And when it comes to personal fulfillment, keep this thought in mind: Harvard has had a longitudinal research study of adult development for more than 85 years, starting in 1938. One key finding: The strongest predictor of who was going to be happy and healthy as they grew old was good relationships.” 
• Focus Partners: Reframing Retirement
  • https://focus-financial.files.svdcdn.com/production/documents/FPW_RetirementWorkbook_2025_0110-digital-1.pdf?dm=1736534355
    • Related column excerpt:
      • “The workbook ‘Reframing Retirement,’ offered by wealth management firm Focus Partners, points out that ‘[r]etirement planning should encompass considerations for maintaining a sense of purpose and fulfillment.’ Subjects in the workbook include planning for your time in retirement, things you might lose or gain, what you might be curious about learning, and the importance of your social network.”