Millennials Expect To Retire At 57, Report Finds
Despite being laden with debts and struggling with rising living costs, Malaysian millennials expect to retire at 57, two years younger than the country’s average retirement age of 59.
HSBC, in its latest report The Future of Retirement, discovered this as well as the fact that 55% of millennials think they would live much longer than their parents, and would need to support themselves for much longer compared to previous generations.
On average, millennials expect to live to 77, said the report.
But while they were optimistic about their retirement age, only 38% believe they would be financially comfortable in their retirement, while 65% believe they would continue working to some extent beyond their retirement age.