41. What is your exit strategy?
42. What’s the current state of your retirement/pension plan?
| It’s badly underfunded |
|
19%
|
It needs a modest boost
|
|
24%
|
| On track |
|
44%
|
| I could retire today |
|
13%
|
43. At about what age do you plan to retire?
| Before I’m 45 |
|
0.5%
|
| 45-54 |
|
4.5%
|
| 55-59 |
|
13%
|
| 60-64 |
|
22%
|
| 65-69 |
|
27%
|
| 70-75 |
|
13%
|
| After 75 |
|
4%
|
| Never |
|
16%
|
COMMENT: The high level of ECPs who don’t yet have an exit strategy and the finding that nearly half are behind on their retirement funding (or plan to never retire, likely because they feel they can’t) should be a cause for concern. David Brown, CEO of Edge Retail Academy, recommends getting pro-active by asking yourself: ‘At what age do I plan to be in a position to retire?’ “At least then you can genuinely choose,” he says. “In my experience, even those who say they’re on track have set minimal retirement goals for themselves rather than aspirational goals that reflect their lifetime of hard work.”
44. Once you retire, will you …
| Cut all ties with the industry |
|
17%
|
| Keep your hand in with speaking, consulting, teaching, etc. |
|
38%
|
Keep your hand in by volunteering (vision missions, boards, etc.)
|
|
35%
|
| Work part-time/Fill in |
|
7%
|
| Other or “not sure” |
|
3%
|
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45. What do you imagine will be the best thing about retiring?
| The chance to do nothing |
|
4%
|
| The opportunity to learn something new |
|
12%
|
| The time to spend on a hobby or other pastime |
|
22%
|
| The good life: travel and leisure |
|
37%
|
| Time with friends and family |
|
23%
|
| Other (“Get away from a public setting”; “Not having to punch a clock”; “Working a three-day week now … seems to keep me as engaged as I would like.”) |
|
2%
|
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