The T. Rowe Price study also found that nearly 75% of investors say they view retirement as a time to relax (38%) or to reinvent themselves (34%). In contrast, approximately one-third of respondents said they either expect retirement to be status quo (19%); don't know what to expect (6%), or believe it will be a difficult time (2%)."It's great to see that most people have positive perceptions of this next chapter in their life and that they believe their dreams are attainable," says Judith Ward, CFP® and senior financial planner at T. Rowe Price. "Despite very different mind-sets, we found that these investors have taken the steps that will help them get there, such as taking advantage of 401(k) and IRA accounts, saving 10%–20% of their income, diversifying their portfolio, and keeping their retirement funds intact," says Ward.While investors' retirement philosophies did not differ by generation, education, or marital status, there were some significant differences when it came to gender. In addition, the study found that generational differences exist as it relates to longevity and financial planning habits.Men and Women Differ on Retirement Philosophy

• Men (40%) were more likely than women (36%) to describe their retirement years as a time to relax and indulge.
• Men (50%) were more likely than women (44%) to say their ideal retirement was very attainable.
• Women (76%) were more likely than men (64%) to list traveling as part of their ideal retirement.

"Men and women often-times have different views of retirement," says Ward. "I always recommend that couples take a moment to think about what retirement would look like. Write down your visions separately, and then compare notes. If the two versions are very different, it's time to talk."Longevity Bonus: A Blessing or a Curse?

• The study also looked at emotions around longevity in retirement. Americans are living longer and with an increased life expectancy, many will have an extra 30 years of retirement for which they need to plan. Respondents had mixed emotions on whether these additional years were a positive or a negative.
• More than half (55%) of respondents said an additional 30 years of life would be "both a blessing and a curse," noting potential health issues during the later years may outweigh the benefits of living longer.
• Gen Xers (37%) were more likely to label it a blessing compared with baby boomers (29%).
• 45% of respondents were skeptical about the idea of an extra 30 years of life, while 35% were optimistic and 26% were excited.
• Gen Xers (73%) were significantly more likely to say the "longevity bonus" would impact how they plan and save for retirement than baby boomers (62%). Both cited they would need to work longer in order to save more money.

Financial Habits Differ by GenerationT. Rowe Price's survey also examined financial planning habits.The findings included:

• The extent to which investors review their accounts intensifies with age. About 57% of 36—49 year olds said they reviewed their investment accounts at least once a month.  That number jumped to 66% for investors in the 60—64 year age group.
• Gen Xers (43%) were more likely than baby boomers (24%) to say online investment platforms and apps have changed the way they approach investing.
• Gen Xers (82%) were more likely to say they could be doing more to prepare for their retirement than baby boomers (55%). For both groups, those who feel like they could be doing more cite not having enough money or time as reasons holding them back.