Data & Research October 24, 2011

One in Five Americans Expect to Retire Before 65

A Transamerica survey found that despite the pessimistic retirement outlook among many American workers, more than one in five (21%) expect to retire before age 65. 
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The 12th Annual Transamerica Retirement Survey found 52% of people who are planning to retire early have a college degree, 50% are under the age of 40, and 49% report an annual household income of less than $100,000 per year.

These potentially early retirees are likely to have a retirement strategy in place (71%), started saving for retirement at a younger age (median age of 25), and have a 401(k) or similar plan available to them from their employer (75%). They also defer a high percentage of their annual salary into their 401(k) or similar plan (median of 10%). Additionally, these workers are likely to save for retirement outside of work (69%) and be very involved in managing and monitoring their retirement accounts (71%).

The survey was conducted among 4,080 American workers. Click here to view the full results.

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