What does retirement look like for today's pre-retirees, and why are so many Americans rethinking the traditional retirement model?

In this NYSE Live interview, Conor Murphy, President and CEO of F&G, discusses findings from the company's annual Retirement Reconsidered Survey, revealing how attitudes toward retirement continue to evolve across generations.
Murphy explains that retirement is increasingly becoming a more flexible and personalized phase of life. Rather than viewing retirement as a sudden end to their careers, many Americans are choosing gradual transitions that allow them to continue working while pursuing personal interests, family commitments, and new opportunities.

A major finding from the survey is the growing popularity of semi-retirement. According to Murphy, approximately 60% of respondents indicated they are considering a gradual transition out of the workforce through part-time work, consulting, mentoring, freelance opportunities, or other flexible arrangements. Many individuals see value in maintaining professional engagement while gaining greater control over their time and lifestyle.

The interview also explores changing perceptions of work. Murphy notes that many pre-retirees no longer see retirement as a complete departure from employment. Instead, they seek greater balance between meaningful work, travel, volunteerism, family time, and other personal priorities.

Another key theme is retirement timing. The survey found that a growing number of Americans are considering delaying retirement, reflecting both financial concerns and the desire to remain active and engaged. Murphy explains that retirement planning has become increasingly complex as individuals navigate evolving economic conditions, healthcare costs, longevity considerations, and changing personal priorities.

The conversation further examines financial preparedness among Generation X. One of the survey's notable findings showed relatively few Gen X respondents awarding themselves top marks for retirement readiness. Murphy suggests that economic uncertainty, evolving retirement goals, and the complexity of long-term planning contribute to ongoing concerns about financial preparedness.

The interview also highlights the importance of professional financial advice. Murphy notes that many individuals are still navigating retirement planning without guidance despite the significant financial, healthcare, income, and legacy-planning decisions involved. He believes personalized advice can help individuals build confidence and better align financial strategies with retirement objectives.

Another major area of discussion is retirement income planning. Many Americans worry both about overspending and underspending in retirement, creating uncertainty around how to balance current lifestyle goals with long-term financial security.

The conversation also addresses legacy planning. Beyond income and expenses, Murphy explains that many individuals are increasingly focused on determining how they want to support family members, charitable organizations, and future generations through their financial plans.

Looking ahead, F&G expects retirement to become increasingly individualized, with more Americans pursuing flexible retirement paths that combine financial security, purpose, lifestyle fulfillment, and continued engagement.

Throughout the discussion, Murphy shares insights on retirement planning, income strategies, financial wellness, longevity, semi-retirement, wealth preservation, financial advice, and the evolving definition of retirement.

Disclaimer: Informational content only. NYSE does not endorse or recommend investments, strategies, companies, products, or services discussed.

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