Short Retirements Are No Longer the Norm

Retirement is no longer a relatively brief time of leisure after work ends. With today’s increasing lifespans, clients face roughly 20 or more years in retirement, or about 8,000 days. Viewed this way, it becomes clear that retirement is not an end, but a new, complex, and unpredictable phase of life, filled with potential.

How Financial Professionals Can Help Prepare Clients for an 8,000-Day Retirement

It’s often asked, “What are you going to do when you retire?” Most clients have a clear image of day one, maybe even day 1,001. But few can imagine 8,000 days of golf, and even fewer have a vision of what they will be doing on any given day—such as day 4,567.

Instead of planning for an undefined stretch of time, it may be more beneficial to conceptualize retirement as four distinct phases, each characterized by different opportunities and challenges 

1. The Honeymoon Phase
2. The Big Decision Phase
3. The Navigating Longevity Phase
4. The Solo Journey Phase