When it comes to retirement, baby boomers are favoring lifestyle choices over wealth preservation, bucking the traditions of the generations that came before them.

That is according to a new survey from Bank of America Merrill Lynch and research firm Age Wave released on Monday titled “Americans’ Perspectives on New Retirement Realities and the Longevity Bonus.” The report polled 6,300 U.S. residents ages 45 and older from December to January.

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