You may click the video above to watch and learn as our advisor, Gina Buchholz, discusses 7 Things No One Tells You About Retirement in this 30-minute webinar.
A brief overview of this presentation is included below:
Key Retirement Statistics
Understanding the emotional and financial challenges of retirement is crucial
40% of Americans fear retirement more than death
87% worry about a lack of income during retirement
Retired individuals are twice as likely to report symptoms of depression
Historical Context of Retirement
The evolution of retirement systems highlights outdated frameworks
The first social security system was created in Germany by Otto von Bismarck
401(k) plans were introduced in 1978 to supplement pension plans
Baby boomers may need to fund 70% of their retirement, lasting over 30 years
The number of pension plans decreased from 175,000 in 1983 to 45,000 in 2022
Emotional Challenges in Retirement
Retirement can lead to significant emotional and psychological issues.
Retired individuals face a 40% increase in clinical depression likelihood
25% of seniors aged 60+ report feelings of isolation and loneliness
65% of people aged 65+ engage in high-risk drinking
Misconceptions About Retirement
Common clichés about retirement can lead to miscalculations
Retiring with a purpose is more beneficial than simply retiring from work
Retirement often magnifies existing habits and behaviors
Successful retirement requires proactive planning before reaching retirement age
Longevity and Aging Perceptions
Perceptions of aging vary significantly across different age groups
Younger individuals view old age as beginning at 60, while older adults feel it starts later
Only 21% of those aged 65-74 consider themselves old
Social norms have not adapted to longer life spans, affecting retirement planning
The Paradox of Retirement Work
Retirement does not eliminate work; it transforms its nature
New skills and abilities are required for post-retirement activities
Successful retirement involves setting boundaries, pursuing passions, and engaging socially
Resilience and a positive mindset are essential for overcoming retirement challenges
Tools and Resources for Retirement Planning
Various resources are available to assist in retirement planning.
Worksheets and checklists help facilitate retirement conversations and priorities
Group discussions encourage sharing insights and experiences related to retirement
Scheduling appointments for personalized discussions is encouraged