George Bernard Shaw. Connect with peers and experts, About Weird But True! "Table A-1. According to new research from , a full 71% of people who struggled financially during the pandemic intend to delay their retirement. Unsurprisingly, the "chief herald of the Unicorn Hunters" was once quoted saying: "The pursuit of the unicorn is a lonely quest." That's an annualized total return of 7.77%. The good news? Retirees might think theyll spend time going back to school or taking classes, but it doesnt factor into decisions of where to live much for baby boomers. Troy Segal is an editor and writer. Over 1 million users of Airbnb are over age 60 around the world, reported a Merrill Lynch study, including 10% of hosts. Loneliness can increase the risk of Alzheimers disease, make seniors more vulnerable to elder abuse, and lead to more unhealthy lifestyle habits. That's not just true for rich tech icons. Financial experts advise that the average 65-year-old American should have saved between $1 million and $1.5 million for retirement. Weird But True! People ages 65 and older watch the most TV per day of any age group, according to the Bureau of Labor Statistics American Time Use Survey released in 2017. Be nice to your kids. Retirement is a milestone in one's life. That's an annualized total return of only 2.96%. Lobsters have bladders on either side of their heads, so they communicate by urinating at each other. But, only about one-third buy locally grown food and about 2% own or lease hybrid vehicles. Considering the rising unemployment rate today, its no wonder only a third of retirees left the workforce when they planned to, workforce retirement statistics report. Statistics by state also show different data. A full 65% say that financial concerns are greater in retirement than before. It used to be that you could spend most of your career at one company and count on a pension once you retired. If you invite the Queen of England to your wedding, even if you're not royalty, there's a chance she might show up anyway, as she did with one unsuspecting couple in Manchester in 2012. to date. And for more language facts, here are the20 Words You Won't Believe Are in the Dictionary Now. She's in her 80s, and she's employed as the village's mayor, librarian, and bartender. Once you turn 65, your standard deduction as an . Exit . Baby boomers think that workers ages 50 and older contribute more to the workplace than younger generations in a range of categories. Doug Larson When a man retires, his wife gets twice the husband but only half the income. Now, we realize that this comparison isn't exactly flawless, but you have to admit that it's a funny fact. It is called Psychotria Elata. What failures did they overcome? Take a break and read 'em all. There are many ways to prepare for retirement. 7. When you count people ages 50 and older, the group spends about $125 billion on leisure travel each year. Quickly Lower Your Car Insurance Premium the Dave Ramsey Way What He Recommends, Home Prices Will Bottom Out in 2023, According to Experts, With a Recession Looming, Make These 3 Retirement Moves To Stay On Track, lesser-known retirement facts that will help you prepare. 44 Fun Teacher Facts and Trivia | FactRetriever.com Every half-year counts. A retired husband is often a wife's full-time job. Somewhere an elderly lady reads a book on how to use the internet, while a young boy googles "how to read a book". Dropped for the Second Year in a Row in 2021, More in U.S. In fact, the study says that one of the only areas where people find retirement less fun than work is around financial concerns. Lets say that you have just turned 55 and you have no retirement savings. Over 80% of boomers belong to at least one airline loyalty program and over 70% belong to a hotel loyalty program, according to AARP. Polar bears touch noses with one another when they greet each other. How 'bout them apples? Get the answers to these questions and more in this series of weird (but true!) Answer: 65 on average When was the first Social Security payment made? Find Out: 6 Types of Retirement Income That Aren't TaxableWith a Retirement is a critical time in one's life, and, hopefully, a long-lasting one. It seems that despite the financial insecurity, most retirees are happy with their life after leaving the workforce. Pursuing hobbies and traveling, maybe even retiring to some new location, are just some of the options. Consider these comparisons showing how happiness, contentment, and relaxation soar, while anxiety seems to plummet in retirement: This research is backed by numerous studies on the U curve of happiness. So when is Discovery Channel premiering their "Vending Machine Week?". What other details can stats and facts tell us? 63: If you imagine that most people work until about age 65 or longer . XXs research found that 69% of all respondents define retirement as a gradual easing out of work, not an abrupt stop. significant financial decision. 5. If only there was a way to fill our heads with new knowledge while also appeasing our appetites for silly good fun. It's called the "Nutty Narrows Bridge." According to the Feds Survey of Consumer Finance, the average net worth for people ages 55 to 64 is over $187,000. On average, teachers work an average of 10 hours per day and 52 hours per week. And of your most enjoyable leisure experiences, 82% say that they have those with their partner while 45% say grandchildren, 44% say children, 29% say themselves, 27% say friends and 17% say pets. Income From Pensions., Bureau of Labor Statistics. It officially takes 364 licks to get to the center of a Tootsie Pop. There's a highway in Lancaster, California, that plays the "William Tell Overture"or the theme from "The Lone Ranger"whenever cars drive over it at 55 mph. And, seniors get more isolated as they get older: Nearly 1 in 2 senior women over age 75 live alone. Studies have shown that learning something new every day can improve your brain health and make you happier. 10 Merriest Retirement Facts: 2021. Rethinking Retirement: XX Facts and Fictions Related to Your Future, Get Started 30 Revealing Retirement Statistics & Facts for 2022, most commonly held type of insurance among retirees, 56% of retirees said they would rely on savings, Transamerica Center for Retirement Studies, Ten Key Retirement Statistics Everyone Should Know, Statistics on Retirement Savings in America, Statistics on Personal Finance and Retirement, Facts and Figures on Relocating After Retirement, Interestingly, 15% of respondents in a 2020 survey named Florida as their. videos, fun facts, and more. They're cramming for the final. As a whole, Americans are not doing a great job of saving for retirement. } else { This is far less than the amount retirees need to meet their daily requirements, as well as health and living expenses. Social Security Administration. A retired husband is often a wife's full-time job. Shelost to a drag queen. Baby boomers think that workers ages 50 and older contribute more to the workplace than younger generations in a range of categories. For example, 51% of baby boomers think that older workers are. Thanks to her curiosity and thirst for knowledge, Miras articles are well-researched and informative, but also intriguing and absorbing. The information presented is based on objective analysis, but it may not be the same that you Preparing for it is key, but how prepared are most Americans? Depending on your profession during your career, your payment may be enough to live on if you keep your expenses low. According to a survey by AARP, 99% of baby boomers traveled for fun, with the average senior taking five trips. This means that 13.8 million seniors in the US live alone. Take Our Poll: How Do You File Your Taxes? Latin America has flowers that look like lips. And, if you did, maybe you can be comforted by the fact that working is proven to keep you young and vital. If youre not quite as close to your target as youd like to be, taking a second look at your retirement plan can help you pinpoint the gaps. Some baby boomers plan to keep working by choice so they can age well and stay busy. The lowest was people ages 35 to 44, with just 58% saying staying connected with friends was important. In fact, a new survey reports that the average lifetime retirement savings of boomers today is a paltry $136,779. Ideally, you should contribute to your retirement through employer-sponsored plans or IRAs as soon as you start earning money. Chi Chi Rodriguez When a man retires and time is no longer a matter of urgent importance, his colleagues generally present him with a watch. 2) Old age, fragile bones, doctor visits, medical checkups and a weak bladder - are you still looking forward to retirement? Moving on to some more encouraging and fun facts about retirement. } The median total consumer debt of households run by people 65 or older was $31,300 in 2016 four and a half times as high compared to 1989. "Cost of Care Survey. Want another funny fact? Will Older Adults Return to the Workforce? Planning is key, so start calculating your retirement savings rate today and begin putting money away. Nearly three-fourths (73%) of employees wish they had better 401(k) guidance at work; only 5% disagree. Here's a funny fact for you: A dairy cow will produce up to 3 percent more milk when listening to music. You can hire a clown in Switzerland to stalk your kid and creepily smash a cake into their face on their birthday. How did they get there? Diversification is a lifelong investing guidelinestay diversified in retirement too, says Craig Israelsen, Ph.D., designer of the 7Twelve Portfolio, of Springville, Utah. Americans have a troubling understanding of computer code. And before he recorded it, Barry didn't even think it was a particularly good song. Seniors Like Movies. Most Haven't Budgeted for Trips Many retirees are still working. Withdrawals, Conversions, and Beneficiaries, How to Use Your Roth IRA As an Emergency Fund, Understanding Qualified vs. Non-Qualified Roth IRA Distributions. Take a look at these stats to find the answer. Oddly enough, we arent really planning for all the great things we can do in retirement. Government data reveals that nearly 70% of individuals who reach age 65 will need long-term care at some point.