Some Shocking Facts about Retirement

Retirement has different meanings for different people. For some, it is the time to find a lovely, affordable retirement community and relax. For others it will be a time for travel, starting a new business or just spending quality time with family members.

No matter what your approach may be, here are some things about retirement that might surprise you…

- Many consider the standard retirement age to be 65 years old. One of the reasons that specific age was decided was because of Germany. They initially set their retirement age at 70 and then lowered it to 65.

- Every day for the next 15 years, another 10, 000 people born between 1946 and 1964 will turn 65. That’s about one person every 8 seconds.

- 15% of middle-aged adults are providing financial support to both an aging parent and a child.

- Nine of ten adults aged 65 years and older take at least one prescription drug every day.

- 58% of people expect to continue to work for pay after formal retirement and for the majority, this will be due to financial necessity rather than choice. 

- Seniors watch more TV; spend more time on the internet and on mobile devices than any other age group – even teenagers! In 2013, the 65-and-older age group averaged over 275 hours of TV per month! Kids aged 12 to 17 only watched 120 hours.

- Only 54% of South Africans+ who are currently 10 years or less away from retirement age are saving for retirement. 

So, these facts may be pointing to one conclusion: The 65-and-older age group is expected to become much larger and have more influence in the future. Ask yourself: Have you made plans for health care and retirement? If you are unsure about your decisions, maybe it’s time to sit down with your loved ones and talk about a solid plan for your future. 

Pinelands Grove is a luxury retirement village based upon the concept of independent living, which enables the residents of these life right units the ultimate lock-up-and-go lifestyle.