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The retirementality challenge. retirement sit back & relax done the duties, enough of slog Freeee…dom An artificial finish line, superficial The 3 rd.

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Presentation on theme: "The retirementality challenge. retirement sit back & relax done the duties, enough of slog Freeee…dom An artificial finish line, superficial The 3 rd."— Presentation transcript:

1 the retirementality challenge

2 retirement sit back & relax done the duties, enough of slog Freeee…dom An artificial finish line, superficial The 3 rd innings – Vanaprasth ashram

3 retirement The distribution phase – Consumption from the accumulated funds – Pension income – Philanthropy – Rest for the next generation Redefining Rewiring

4 ideas about retirement Some are in a hurry to put down the bats – IT Some play the whole game till the last ball –SK Few have no choice, are retired hurt – by compulsion – ML/Tx, SSR And a few would like to keep batting and RIP with their boots on – RTD +++

5 the drivers - outcomes Clarity of purpose – what next – Capt Nair, Zest for life. MTU, MTV Longetivity

6 without drivers outcomes – boredom – Ill health – Strained relationships – I am no more wanted

7 retirement planning (rp) Cost of living Inflation Money should outlive & not vice versa Longetivity Hereditary & pre existing issues Distribution

8 (rp) the curious ones Inquire Both philosophical & fiscal inspire

9 the philosophical inquiry Intellectual engagement, personal growth Leisure/recreation (MMK) Health care and physical fitness relationships – close, community and social Home and location Financial wellbeing

10 case a 67-year-old retired executive lamenting about his boredom and subsequent disillusionment with not being needed anymore - sadder than the person nearing retirement with an insufficient nest egg. It is one thing to lack money––it is altogether another to lack purpose.

11 case II The wife of a retiree confided to her advisor that her husband was driving her nuts sitting around the house all day. She also feared that his health was declining.(JP, MBN)

12 meaning over money The most satisfied retirees have anticipated their lives in retirement and not just their cash flows. Consequently, they are living the best years of their lives—instead of being disappointed

13 author & journalist John Wasik Instead of absorbing an obsolete view of retirement, we should consider what I call the New Prosperity. This includes a flexible life plan that provides for your financial, vocational, physical, emotional, and spiritual needs. Unless you look at your future holistically, merely saving up a pile of money will be a meaningless act.

14 Challenges GEREATIC CARE – attitude to prolong The American story

15 The American challenge 4 million - 46% with less than $1000 as savings Taxing the system & competing with you in the job market Estimated Retirement Research - GAP – $ 6.6 Trillion 1 in 6 already below fed defined poverty line 90 million by 2050 Bankruptcy between age 65 to 74 up

16 The American challenge Early retirement – only 23% now, 1991 –above 50 % Retirement Holiday - AARP - 40% expected to leave the world with their boots on 56% have debt

17 the way to go As you can see, financial wellbeing is only part of a successful second half. it’s important to have a defining conversation with clients to understand what they need more than the means—they need meaning - they will live a more fulfilling life

18 Q & A Steve’s mantra “stay hungry stay foolish”

19 Thank you


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