*What is retirement?
At Coaching International we define retirement as the life stage where financial needs are met either by the state or by passive forms of income. For many it is the life stage that follows full-time paid work and a stage that offers more freedom to create and live the lifestyle that suits one's unique needs.
In New Zealand the state considers 65 years to be retirement age, in reality some can retire before 65 years whereas others have to wait until they are 65+ years.
*What is the average age of first retirement?
Today the average age of first retirement in the United States is 57.5years. Comparable research in New Zealand is not available.
* Do people generally stop working once they retire?
No, but it does depend on your definition of work. Generally people continue to work after they retire and it needs to be considered as an essential part of a balanced retirement lifestyle. A 2005 study conducted by Merrill Lynch in the United States showed that productive work, either paid or voluntary was essential for good health and well-being during the retirement stage of life.
