Retirement: The elephant in the room

Retirement is new- very new. 

Only in the last couple generations have the systems necessary for people to save and stop working been in place. The greatest generation (depression era) were the first group to accomplish retirement en masse. And what did they do with this ‘retirement’? They saved more. 

I’ve spent quite a bit of time with this generation and their baby boomer children. Their kids always lament why their parents aren’t enjoying retirement, and are also quick to say “that won’t be me!” 

I’m afraid to break it to you, but it will. 

Money that’s hard to use

There’s a startling difference between the baby boomers and their parents. The greatest generation saved money to provide safety. As long as it provided a sense of security, they were happy; the money served its purpose.

The Boomers were sold on the “Freedom 55” idea, which usually looked like two happy, grey haired individuals on a far away beach. The expectation for retirement had changed: it became about having the choice to do whatever you wanted. The sky was the limit. 

But the commercials didn’t say how hard it actually is to use these hard won savings. And I don’t mean a few trips here and there, I mean finding true choice and freedom; a feeling of intrinsic value. The feeling that you didn’t work hard, save and sacrifice for nothing. 

So why is it so hard?? 

There’s something many people overlook when they see a commercial promoting retirement: it’s not just about the free time, it’s about the look of confidence. The people in the commercials know they can spend the money because they’re confident they can do so. 

It’s hard because it’s scary

Most retirees most describe retirement as a scary, anxious, unclear, time, especially the time just before they’re about to retire. Yes, there is excitement too, but it’s a nervous excitement. 

I want to change that. My hope is that you will use your savings with confidence to share wonderful moments with yourself, friends, family, and charities. 

Everyone believes the greatest risk in retirement is running out of money. I believe that the fear of running out prevents you from living retirement as well as you could.