Articles of Interest

The Four Faces of Retirement

by Jeff Cory, CFP, ChFC,
Executive Director

As a retiree, would you consider yourself an "Ageless Explorer," "Comfortably Content," "Living for Today," or "Sick and Tired"? These are the four faces of retirement identified by aging expert and author of Age Wave, Ken Dychtwald, based on an extensive survey of retirees' attitudes, lifestyles and financial preparedness.

The survey conducted by Harris Interactive reaffirmed that retirees increasingly no longer regard retirement as an extended vacation or time of rest and relaxation, but rather as a new, active stage of life.

Dychtwald's research categorized retirees into four types, each with different goals for retirement.

Ageless Explorers, who make up 27 percent of retirees, exemplify the new retirement model with their desire to be active, productive and independent in retirement, and to reinvent themselves.

The 19 percent Comfortably Contents put less emphasis on personal growth and work more on relaxation and enjoyment through travel and recreation.

The 22 percent Live for Todays aspire to many of the same ideals as the Ageless Explorers, but are financially unprepared, making them anxious in retirement.

The Sick and Tired make up the largest percentage, 32 percent. They're characterized by being inactive, unfulfilled and resigned to a less-than-satisfying future. A significant portion of this segment are widowed and in poor health, with significantly fewer financial resources.

For a complete overview of the research, go to visualize-retirement.com.

Source: Journal of Financial Planning, September 2002.