We are joined by John Diehl with Hartford Funds for this webinar. John Diehl, Senior Vice President of Applied Insights at Hartford Funds, explains how your life can be divided into four 8,000-day segments and highlights what's most important in each.
For more than a decade, Hartford Funds has partnered with the MIT AgeLab to uncover what investors are thinking about lifestyle trends, who they trust, and the future of retirement—all of which influence their decision-making process. In this 1-hour webinar, John Diehl uses AgeLab research to dive deeper into what retirement looks like in reality.
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.
Preparing for an 8,000-Day Retirement
It’s often asked, “What are you going to do when you retire?” Most individuals 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
The Honeymoon Phase
The Big Decision Phase
The Navigating Longevity Phase
The Solo Journey Phase
Ask yourself, given the prospect of an 8,000+ day retirement, do you think you are as prepared psychologically for retirement as you are financially?