A Positive Attitude is the Difference
A bonus potential of thirty years of life in retirement brings worries about outliving one’s money, health and healthcare costs, family interdependencies, the loss of quality of life, and being isolated and lonely. People want and need to know more about their life after age sixty before they are upon them, to gain greater clarity about what they want to achieve, and to understand what is possible in elderhood, life after adulthood (Age sixty-five plus twenty years). The above sentences paraphrase a 2013 Merrill Lynch retirement study. The study provides these insights and areas of concern:
Reinvention: Today’s retirees aren’t retiring — they’re moving on to explore new options, pursue old dreams and live life to the fullest. They’re seeing the longevity bonus as a chance to devote energy to pursuits they may not have had the time or freedom to chase during the “career” portion of their lives, to stay stimulated, and to strengthen and expand their social network.
Connectivity: The “Me Generation” is becoming the “Us Generation.” Today’s retirees are finding comfort, meaning and safety in connections — family, friends, communities and trusted guides.
Traditional Values: Today’s retirees define happiness not in terms of dollars but in terms of new experiences, peace of mind, helping family and making a difference.
Health Disruptions: Health problems and the cost of healthcare now top the list of retirement worried.
Falling Short: People don’t know exactly how long they will live and feel insecure about their ability to support a very long life.
New Family Interdependencies: In today’s uncertain economy — where one or more family members may be struggling financially — balancing an individual’s or couple’s retirement needs with the needs of parents, siblings, children and grandchildren is a growing and complicated challenge. And partly because of these family complexities, most couples now want to share responsibility equally when making major financial decisions.
Home & Community: People are concerned about where they should live in retirement, as well as finding ideal accommodations for their parents.
Search for Guidance: Because of shifts away from pensions and strains on entitlement plans, Boomers recognize they must be more self-reliant. But they are in uncharted territory and feel they need guidance.
People want and need to know more about their life after age sixty before they are upon them, to gain greater clarity about what they want to achieve, and to understand what is possible in elderhood and protirement.
"It is an incredible time to be growing older. This longevity factor creates new opportunities for people in the second half of life. For the first time in the history of humankind, we or our children or grandchildren may live to be 120. Today, the man or woman can anticipate living twenty to thirty or more years and needs to design a new beginning."