A Brief History
Not that long ago the term retirement planning held no particular meaning for most people. Manual labor was the main gauge of productivity and
strong, young workers were in demand. Older workers were left to rest and
reflect on life (it’s no coincidence that one of the meanings of retire is
to go to bed at the end of the day).
Nineteenth-century German Chancellor Bismarck made retirement official, encouraging older workers to make way for younger ones.
He established a national pension and chose 65 as the age of entitlement.
Because the word retirement is often associated with inactivity and dis-engagement there have been several attempts to establish more animated terms but, so far, none have stuck - so, retirement it is.
When you leave the ‘regular’ work force you will probably
be energetic, enthusiastic, possibly younger than 65 and looking forward to the
next third of your life. For many, that could be longer than time spent in a career!
The French have a term – ‘Troisième Age’ – the stage of life after children have been raised but before the onset of extreme old age. These days the ‘Third Age’ comprises people who are healthier and wealthier than ever before.
If you are one of them (The Baby Boomers and older) you are becoming or have become free of formal commitments and responsibilities.
Money is, as always, extremely important. The difference now is that you won't be concentrating as much on growing your wealth and acquiring possessions; you will be focusing more on your monthly paycheck in retirement and how it will affect your new lifestyle
Many articles and references at this website are about the relationships between money and lifestyles and how they affect retirement. The aim is to make it a venue with up to date knowledge and resources dedicated to understanding retirement and feeling great about the ‘Third Age’.
To stimulate thought and to share viewpoints about retirement can help to develop a clearer understanding of what it means and how to plan for it.
These pages are living documents because things are constantly in flux; for example, government rules change, health and wellness standards evolve and new housing options arise.
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