Updated: Jan 13, 2021
Do you ever wonder why George Washington and his delegates who signed the constitution wore white wigs? In 1787, white hair symbolized an older, wiser, and more powerful individual. The average life expectancy was 37, and the median age was 16. How times have changed! This was a piece of information that Kent Dychtwald, PHD, shared with 125 Retirement Coaches at last month’s annual Retirement Coaches (virtual) Conference.
Over the last 40 years, Dr. Dychtwald has emerged as North America’s foremost visionary and original thinker regarding the lifestyle, marketing, health care, economic, and workforce implications of retirement. He is the founder and CEO of Age Wave, a firm that guides companies and government groups in product/service development for boomers and mature adults.
As we live longer and retire earlier, the topic of aging has become more relevant, but most retirees have not yet planned how they will approach their retirement.
The Latest Trend in Retirement Planning is to Take a Holistic Approach
Dr. Dychtwald sees aging as uncharted territory, with evolving opportunities. Retirement planning has become more of a holistic process. In addition to seeking advisement for the financial side of retirement, you should also seek guidance from a certified retirement transition coach to help find purpose, joy, and meaning in the next phase of life.
He also explained that retirement planning should not be a solo project. Involving a spouse, significant other, and immediate family members is vital to setting expectations around what will change and what will remain the same, financial support, and the potential need for caregiving. Planning how to navigate the particulars of daily structure, establishing a new identiy and purpose, ongoing learning, and maintaining a social network after retirement is also key.
The Benefits of Holistic Planning
As retirees take advantage of this new holistic approach to retirement, they will find themselves healthier, more fulfilled, and living longer than most retirees from the past — all without powdered wigs!