What’s the ideal retirement age? Survey says 61. When to buy a home? 28.

survey_mgn_640x360_80327B00-MCWHU_1531945875405.png

A new survey by BankRate.com finds different generations have different ideas on the best times to retire, buy a home, get a credit card and other financial milestones.

The survey essentially revealed the younger you are, the younger the age suggested for various significant markers in life:

  • Ideal age to buy a home: 28. That’s the overall average. However, reality makes that age seem a bit too optimistic. The median age for first-time homebuyers is 32, according to the National Association of Realtors.
  • Ideal age to get a credit card: 22. According to Kevin Morrison of the financial analysis firm Aite Group, that may be high. â€œI would think that the majority would start opening as they enter college or during college or get their first job right out of high school,” he says. “So I would think it would be the 18-19 range.”
  • Ideal age to retire: 61. The younger the generation, the younger the ideal retirement age. For example, Gen X’ers (born between 1960 and 1980) feel the ideal time to retire is at 60. Members of the Silent Generation (people born between 1925 and 1945) think 65 is the right age. Baby Boomers (people born between 1946 and 1964) prefer 62, while Millennials (born between 1981 and 1996) think 61 is about right.

Men and women overall disagree about the right time to retire. Men in general believe the ideal retirement age is 60, while woman think it is 62.

You can read the complete survey here.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Recent Videos

KX Storm Team Afternoon #OneMinuteForecast w/Tom Schrader

Thumbnail for the video titled "KX Storm Team Afternoon #OneMinuteForecast w/Tom Schrader"

Rescue Dog

Thumbnail for the video titled "Rescue Dog"

Robert Suhr KX News 620am Forecast

Thumbnail for the video titled "Robert Suhr KX News 620am Forecast"

Tip a Cop

Thumbnail for the video titled "Tip a Cop"

Robert's One Minute Forecast 9-18-19

Thumbnail for the video titled "Robert's One Minute Forecast 9-18-19"

Bismarck Marathon

Thumbnail for the video titled "Bismarck Marathon"

Prepare for Bismarck Marathon

Thumbnail for the video titled "Prepare for Bismarck Marathon"

Boys HS Soccer Sept. 17

Thumbnail for the video titled "Boys HS Soccer Sept. 17"

Class A Volleyball Sept. 17

Thumbnail for the video titled "Class A Volleyball Sept. 17"

Class B Volleyball Sept. 17

Thumbnail for the video titled "Class B Volleyball Sept. 17"

Boys High School Tennis Sept. 17

Thumbnail for the video titled "Boys High School Tennis Sept. 17"

Preparing for Natural Disasters

Thumbnail for the video titled "Preparing for Natural Disasters"

Century Volleyball

Thumbnail for the video titled "Century Volleyball"

Amy Jacobson

Thumbnail for the video titled "Amy Jacobson"

Bismarck High Tennis

Thumbnail for the video titled "Bismarck High Tennis"

Tuesday, September 17th, 2019 - KX Storm Team Evening Forecast - Dave Holder

Thumbnail for the video titled "Tuesday, September 17th, 2019 - KX Storm Team Evening Forecast - Dave Holder"

KX Storm Team Full Evening Forecast w/Tom Schrader

Thumbnail for the video titled "KX Storm Team Full Evening Forecast w/Tom Schrader"

Hemp and CBD Crops

Thumbnail for the video titled "Hemp and CBD Crops"

Hostfest

Thumbnail for the video titled "Hostfest"

Missing Persons

Thumbnail for the video titled "Missing Persons"
More Video

KX News Trending Stories

Don't Miss