So how's that retirement working out?

Ted. I just finished reading an article in today’s Wall Street Journal entitled “The End of Retirement.” It was written by a 42 year-old columnist named John D. Stoll who concludes that “The conventional wisdom – save enough to retire at age 65 – won’t work for the generation starting their careers today.”

Mr. Stoll talks at length about how long he will live and the amount of money he will need at retirement. He has a valid argument for working as long as possible and concludes with his personal decision to continue funding his 401(k) for 25 more years, “not so I can stop working,” he adds, “but so that I have options.”

I retired shortly after my 64^th birthday and have not worked (for money) for three years now. Certainly no expert on the topic of retirement, I have had dozens, maybe even hundreds of conversations with folks from 18 to 88 in many countries on the subject of retirement. These chats invariably begin with my describing our current lifestyle. This spurs people to describe their retirement, or dreams, should they be younger. It is rare for someone to say that they will never stop working. By the way, my 88 year-old friend, Herb still works as a bailiff (walker and all!).

My conclusion from my many discussions is that most people are concerned with having plenty of money and good health in their last quarter of life. But they don’t give enough thought to having a reason to live.

My father, who will be 90 this August, lives in a very nice independent living apartment complex for seniors. The residents have to be well off to afford this place. However, many of his neighbors lead lonely, empty lives consisting of eating, watching TV, surfing the internet and sleeping. Their health deteriorates slowly and depression is common. Dad, who remains very active, listens to all of the grumbling about kids who never visit and longing for spouses and friends who have passed away. He says he has to fight being dragged down by all of the negative talk around him.

The lifestyle that Judy and I have chosen for this passage in our lives is not one well suited to most folks we know. Right now, we plan to go as long as our health permits and hope that we don't outlive our money. My only advice to those contemplating retirement is that they spend time considering the new life to which they will be moving. If they do not have a clear vision yet, it may be better to keep working during a period of discernment.

I understand that health and money are important, but I have come to believe that for each of us, young and old, working or not, the greatest challenge is to have a purpose to our life.

A photo of me taken by my friend of 50 years and amateur photographer, George who is battling 3 forms of cancer.