Friday, February 6, 2015

Good News for Retirees!

The aftereffects of the recession have left a lot of people feeling like they've lost ground financially, but a new survey from T. Rowe Price refutes that: Three-quarters of today’s retirees feel better off than their parents were at the same age. Fifty-seven percent say they're living as well as or better than they did before retiring, and nearly all - 85 percent - said that they didn’t need to spend as much in retirement to be satisfied with their lives.

Perhaps one crucial factor is that retirees spend a lot of time taking care of their financial decisions. The survey found that 80 of the retirees track their expenses carefully, and 63 percent stick to a budget.

The upshot is that nearly four out of five respondents reported being on track to meet their financial goals in retirement. They're getting there with a little help: About half of those surveyed said that they had a financial advisor guide them through the retirement process.

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