Re-Imagining Retirement


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WHAT I'M THINKING ABOUT: Re-Imagining Retirement

The financial burden of retirement is growing.

Today’s Americans are more likely to live longer, have aging parents to care for in retirement, face steep medical bills, and spend more on travel to visit far-flung family members. Changes to the Social Security and pension landscapes also place a heavier burden on some retirees. The steep loss of income at retirement is becoming tougher to afford.

But recent research challenges our understanding of retirement as a long-awaited reprieve from work. Bucking the narrative that we work for money to secure a comfortable retirement, research indicates money is a poor motivator and that fulfilling work is its own reward. Thus retirement should not be about ceasing work—which often is not as enjoyable as expected—but obtaining the financial independence to pursue fulfilling work. Read this thought provoking blog post by Michael Kitces about these findings and ponder what it means for you. How can the rewards of fulfilling positively shape your view of retirement and your preparation for retirement?

Here are two interesting articles I read this month:

In Reversal, Colleges Rein In Tuition
By Josh Mitchell, The Wall Street Journal

Here’s a breath of fresh air for all you parents. U.S. college tuition grew by less than 2% this year—substantially lower than the 6% average annual increase in recent decades. You can thank decreased enrollment due primarily to a healthy job market and demographic shifts.

The Man Who Wrote Those Password Rules Has a New Tip: N3v$r M1^d!
By Robert McMillan, The Wall Street Journal

Another refreshing read. New research suggests we should throw out everything we thought we knew about password rules. “Long, easy-to-remember phrases now get the nod over crazy characters, and users should be forced to change passwords only if there is a sign they may have been stolen, says NIST, the federal agency that helps set industrial standards in the U.S.”