Retirement Expectations vs. Reality: Tips for Mapping Out a Game Plan and Getting a Second Opinion.

A survey by the Employee Benefit Research Institute (EBRI) and Greenwald Research found that workers' expectations about retirement are at odds with reality. The survey revealed a significant gap between when active workers expect to retire and when retirees say they actually did. Workers report an expected median retirement age of 65, while retirees report they retired at a median age of 62. Additionally, workers underestimate Social Security as a source of income in retirement, with only a third expecting it to be a major source of income compared to the majority of retirees who say it is. The survey underscores the need for workers to educate themselves more about what to expect in retirement to help them better prepare for the future.