Comments on: Should Retirement Really Be The “End Goal” For Gen-Y?

By: What would life look like without retirement? «

What would life look like without retirement? « — Thu, 10 Jun 2010 17:27:08 +0000

[...] think we need to embrace these changes and work hard to understand them and how they will truly impact us. Not just be led by what the media says we should think and feel about these issues. Instead, [...]

By: Rob

Rob — Thu, 23 Jul 2009 18:53:32 +0000

the brilliant fact your post really left for me is that the world is completely changed. it reminds me of how i explain to people that task lists don’t really cut it anymore. we simply don’t have the same tasks as we did 50 years ago, we have to shift our minds around the current state of the world.

if it wasn’t apparent, i completely agree that retirement shouldn’t be the end goal anymore. should we save for the future? yes absolutely, but it should not be the end goal. if you define work as anything you want to do less of, then we should be pushing ourselves to follow our passions and free up our lives to enjoy them consistently throughout our life. some can do that with their 9-5, a lot cant and i believe those should pursue to break free…i couldn’t help but to be brought back to chapters in the 4 hour work week on getting over fears and putting dreams on a timeline when reading your post. great reflections.

the key was in one of your last paragraphs…

“Start taking steps today that foster the alignment of your work, your passions, and your purpose.”

…. now hmm lets see where can i find those “steps” …thanks!

By: Elizabeth Williamson

Elizabeth Williamson — Wed, 15 Jul 2009 01:24:48 +0000

As a fellow 25-year-old, this is an issue that I’m really starting to wrestle with. For me, I really want to go traveling and see the world, and I’m working on making that happen before I turn 30. 65+ is way too long to wait to do some serious traveling, and I just don’t know what the future holds 40+ years down the road. I don’t want to work 40+ years only to find that I’m not healthy enough to go hiking or scuba diving or whatever crazy adventure that I want to do next.

By: Jean Philippe

Jean Philippe — Sun, 12 Jul 2009 06:34:07 +0000

I completely agree with your concept Adam and I would go even further than that. The life expectancy of 78 you gave I think is an average for the US but to give you a more precise example, Japanese women have already broken the 85-year-old average and French women will do so in 2014. American will have to wait much more, until around 2150. As for men, the French will reach it in 2052, Japanese in 2060 and Americans around 2200. Surprised? What you eat and your healthcare system are at work here So, as life expectancy slowly rises, mini-retirements are the obvious answer.

Even better, it is estimated that within 20-25 years a cure (stem cells, telomerase, gene therapy, etc) will alter significantly our longevity allowing us to reach easily 150 years or more. Think about it. ‘20 years’ is nothing. Imagine soon living until 150 with all your senses and energy. It will be the golden age of mini-retirements! A long life of leisure and meaningful work will be interspersed repeatedly.

Better start practicing mini-retirements now! (Eat healthy and exercise too)

By: Moving: Making the Decision, Part 3

Moving: Making the Decision, Part 3 — Fri, 10 Jul 2009 11:44:03 +0000

[...] up the arguments against obsessing over retirement nicely in his recent post over at Viralogy, Should Retirement Really Be The “End Goal” For Gen-Y? I can certainly see the benefit of spending your money as you go, and enjoying life in the [...]

By: Weekly Mashup: Happy B-Day HLR! | My Life ROI, Getting the Best Return On Life

Wed, 08 Jul 2009 11:55:57 +0000

[...] offered his thoughts on retirement as a guest post on Viralogy. An interesting look into the original reasons for retirement and how [...]

By: Kelly

Kelly — Wed, 08 Jul 2009 04:12:17 +0000

This is a great concept, as long as anyone who follows it realizes they need to cover the basics like health insurance (for catastrophes), life insurance (in case you die early in life while people depend on you), and enough to cover your expenses in case you can’t work at all.

I don’t want to sacrifice living today for a retirement, but my idea of not sacrificing is to stay at home with my kids for the last 11 years, and for 4-5 more. I’m sacrificing earning now to raise them in the present. As they get older I can focus on working more, and saving more, and hopefully create a lifestyle that is based on working from home (or anywhere we want to be) while doing something I love.

By: John Mullett

John Mullett — Wed, 08 Jul 2009 01:08:38 +0000

Great article! Good to see someone living with purpose and passion with the family instead of sacrificing them for a mythical time later that will never come because of the relationships broken along the way.

By: Denni

Denni — Tue, 07 Jul 2009 20:13:25 +0000

Nice try.

I’m very sold on retirement and I’m in my mid 20’s working as a banking associate. Let me tell you, the financial “gurus” on The Street/MSNBC don’t know jack about the market and our out for commissions so they push the “retirement” scheme.

So why do I still give retirement a thumbs up? Well let’s it’s not call it retirement per se, but capital preservation and living off the dividends. I don’t need a variable annuity or sep-ira tied to negative yielding CD’s (inflation accounted) or even low cost “managed” fund. There are other alternatives if you turn the noise down on the new “it” retirement vehicle.

And yes, leisure > “fulfilling” work any day, no matter how you want to bend it. I’d rather be having sex than sitting at my cubicle but hey, bonus time is around the corner. I’ll be having sex every day when I retire at 35.

By: Brian

Brian — Tue, 07 Jul 2009 17:39:16 +0000

Adam,

I for one am not sold on the idea of retirement. By the time generation Y gets into their sixties, i wonder if the life expectancy will be late into one’s 90s, making those retirement funds increasingly valuable over the long run. I also view my funds as a legacy to be left on to family and loved ones (even if i am single right now… i know those things will be important to me in the future).

I think where people get into trouble is if they ONLY save for retirement. Yes, i am putting a lot away for it, but i am saving for other goals along the way, and achieving those goals is what life will really be about.

Great post!