RJ and Makay

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As baby boomers approach retirement, the tradition of retiring at age 65 is changing, according to a Merrill Lynch Affluent Insights Survey released today.  New retirees will also be dealing with more complex investment and health care considerations.  The survey, conducted by Braun Research, polled 1,000 U.S. residents age 18 and older with more than $250,000 in investable assets.

If you had to pick a phrase to describe Baby Boomers' vision for themselves in retirement, it might be "better off than their parents." According to Bank of America-Merrill Lynch's quarterly poll, Affluent Insights Quarterly, 86% of Baby Boomers intend to have a more active lifestyle in retirement than their parents. Seventy-two percent plan to have a better standard of living.

To remain active, 32% of Boomers said they'd keep working, 26% planned to continue their education, and 24% intended to learn a new trade. Twenty percent said they'd start or continue to work in their own business.