Most in survey love being retired

Despite some anxiety among retirees caused by the recent recession, things aren't all doom and gloom. In fact, most retirees are quite happy in retirement.

In a recent survey conducted by Extend Health, a Medicare exchange provider, 71% of the retirees polled said they love being retired.¹ When asked for the top reason they love retirement, 43% cited "I can do what I want with my time," and 25% chose "I don't have the stress that was part of my work."

Asked about negative aspects of retirement, 15% said they missed the people they worked with, but just 3% said they missed their work and only 2% said they had too much time on their hands. The top activities respondents reported when they retired were spending more time with family, traveling, engaging in a hobby and volunteering.

In addition, the annual Retirement Confidence Survey conducted by the Employee Benefit Research Institute found that 60% of retirees were very or somewhat confident that they had enough money to live comfortably through retirement, with only 18% being not confident at all.²

The surveys point to the fact that, overall, most retirees are content with their status and what they are able to do with the freedom retirement affords them. Although the recent recession has been prominent in the news for so long that it sometimes causes worries, the studies demonstrate the possibilities and hope that retirement can bring.

For example, once you retire you have more opportunities to relax with family and friends, take a leisurely trip, write a book, or even dive into a new career. And you can do it at your own speed and not feel rushed by the demands of your last job.

Certainly it's good to know the status of your retirement savings accounts, to be fully informed of your options, and to have backup plans in case things don't go quite as expected. But when you have a workable plan in place, worrying only distracts you from the good things retirees report experiencing.

¹Extend Health, Inc., Labor Day Survey: Retirees Say Retirement Is Working For Them, September 2010.
²EBRI, 2010 RCS Fact Sheet #1: Retirement Confidence, March 2010.