It’s Not Your Parents’ Retirement Anymore

By on May 26, 2024

increasing stacks of money

by Kate Ashford for the Beacon

Now that retirement spans more years than ever, you might need to rethink how you envision that stage of your life.

Although Americans are retiring a little later than they did 30 years ago, they’re also living longer. Retirement isn’t a blip on the life radar — it’s a significant chunk of time.

While your parents may have retired and never worked another day in their lives, you may find that part-time work when you get older fulfills your mental needs and helps your retirement savings last.

You also may have to be more aggressive with your investments than you expected. And staying healthy is crucial.

“The questions I’m being asked are different, and the conversations clients are bringing to me are different,” said John McGlothlin III, a certified financial planner in Austin, Texas.

Here are the ways retirement might be shaping up for you:

  • Keep more money in stocks
  • Consider working longer
  • Save for in-home care
  • You’ll want to stay healthy

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