Retire Today?

AIG SunAmerica ( affiliate of AIG insurance) did a survey of retirees and they basically came up with four categories:

The Ageless Explorers- an average (post retirement) household income of $64,800 ( 45,000 is the national average) and average net worth of $469,800. 75% have an investment strategy and wide range of investments. 60% received assistance in developing an investment plan.

The Comfortably Contents- an average income $61,200 a net worth of $367,500. 68% have an investment strategy and other investments. 49% receive assistance in developing an investment plan.

The Live For Todays- an average income of $46,300 an net worth $222,600. 51% have a investment strategy and other investments. 38% received assistance in developing an investment plan.

The Sick and Tireds- an average income of $31,900 and average net worth $161,200. 27% have an investment strategy and other investments. 22% received assistance in developing an investment plan.

The survey goes on to say, Most with above average net worth had long term care insurance and so forth.

I know that every individual circumstance is different. That is the problem with personal finance that I have. Sometimes a smaller net worth does not necessarily mean that you are struggling. I also feel some retirees care less about money as long as their are taken care of. (i.e health insurance, and a comfortable place to stay). Most retirees are not checking their bank statements every month.

I know some retirees that are staying with their sons or daughters and have no reason to even spend their social security checks. I know others that move to Palm Springs, bought a condo cash, playing golf everyday or taking cruises.

My point is that according to the survey, most people that plan or have the most investments elsewhere seem to finish above the race. It all depends on our lifestyles. I hope to be an Ageless Explorer and have passive income on top of my IRA and 401k. Simply because I love to travel and have an active life. Some people hate to travel, fish, play golf etc. Therefore, they have no reason to constantly save or have other investments.

So where do you want to be in the four categories? or do you even care?

Moneymonk