The path to retirement is normally considered to be a life-long marathon filled with numerous hurdles that occasionally trip up participants. The greatest economic slowdown since the Great Depression impacted millions of Americans, but those nearing retirement are feeling better about their finances.
Here are three ways baby boomers are redefining retirement:
1. Earlier Than Expected
With home prices and the stock market rebounding from the financial meltdown, baby boomers are feeling better about their soon-to-be golden years. Fifty-seven percent of still-working boomers aged 50 to 60 years intend to retire from their current full-time careers by age 65, earlier than the median age of 67 in 2010, according to a new survey from Del Webb – a leading builder of active-adult communities.
(Read more: Don't Blow Your 'De-cumulation')
Despite two major stock crashes within a decade, the improved sentiment is more in line with Del Webb data from 1996, when 50-year-olds planned to retire at a median age of 63.