For workers with over $1 million in investable assets, a recent BMO Private Bank study found that 56 was the average age they planned to retire.

Ninety-six percent of those polled said they plan to live in the U.S., and 81 percent said they want to spend time traveling.

More than half (53 percent) of respondents intend to continue working in retirement: 21 percent plan to work part time, the same percentage want to start a new career and 11 percent hope to start their own business.

The study also revealed that nearly all respondents (99 percent) said they currently have an investment portfolio or share one with their spouse, with an average value of $3.2 million.

Just 5 percent considered themselves to be aggressive investors, 42 percent were conservative and 53 percent were balanced.

“Having lived and worked through the recession, we’re seeing tomorrow’s retirees step back and re-evaluate the need for risk,” noted Jack Ablin, chief investment officer, BMO Private Bank. “Affluent Americans want to retire younger and do more, so they aren’t willing to compromise their retirement income on riskier investments.”

BMO surveyed 493 adults who have at least $1 million in investible assets. The online survey was conducted in October 2014.