The five personalities of retirement – which one are you?


August 26, 2010 recently discussed the findings of a survey conducted by Allianz Life, a division of Allianz SE, one of the world’s largest financial firms. The study, called Reclaiming the Future, determined that there were five different personality types to boomers who are about to retire.

One personality is Overwhelmed, which describes adults struggling with credit card debt and other financial woes. One-third of this group had been directly or indirectly affected by job loss.

The Resilient personality is next on the list. The news source reports that these workers are pragmatic. One-fifth had been affected by unemployment, and around half of them plan on working until they can comfortably retire, regardless of age.

Iconic personality types have generally already retired and are now receiving pensions. They are the happiest group and believe in the American Dream.

Boomers who were found to be Savvy made up 14 percent of the study and have been very conservative with finances, especially since the recession.

The final personality of the study was Distracted, which accounted for 7 percent of those surveyed. These boomers are generally wealthy and looking forward to early retirement, even though their spending habits and current finances may not line up.

Many boomers are also taking care of older parents while retiring themselves. Installing an elderly alert system can be an effective way to keep a parent safe while you are working or running errands.