Advisors whose clients own their own businesses or who have the ability to transition into consultant or independent work will be much better positioned to create their own transition plan to part-time work and retirement.
Most workers planning to work in retirement past age 65 are driven by financial reasons (80 percent) and a desire to stay active (72 percent), the survey found.
Most boomer workers (78 percent) are saving for retirement in company-sponsored 401(k)s or other similar plans inside or external to their place of work, and they started saving at age 35, the report found.
Many boomers were already mid-career when retirement plans shifted from defined benefit plans, in which the employer guarantees retirement income, to 401(k) or other defined contribution plans, which do not guarantee retirement income but fluctuate based on market performance.
Boomers are saving a median of 10 percent of their annual salaries and have saved a median $152,000 in retirement accounts, according to the report.
Though many boomers expect to work beyond age 65, few are preparing themselves by focusing on their health, keeping jobs skills current and planning financially for a long retirement, the report said.
The online survey included 5,168 workers--1,477 of whom are boomers-- and was conducted by the Harris poll.
This article was provided by Bloomberg News.