The majority of affluent Americans (those with investible assets of $1 million or more) plan to retire young and stay active in their later years, says a study by BMO Private Bank. The study shows that one in five wealthy Americans plan to retire before the age of 40; the average age of retirement for high-net worth Americans is 56. Ninety-six per cent of affluent Americans plan to live in the U.S. during retirement, with 81 per cent planning to spend their time traveling. Additionally, 21 per cent plan to continue earning an income in retirement through working part time; a similar percentage intend to start a new career (21 per cent) while 11 per cent hope to start their own business.
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