For generations past, living into one’s 70s was considered to be a good, long life. Retirement was viewed as a winding down from the day-to-day challenges of daily work and a looking forward to a life of relaxation and leisure.
Planning for retirement
The U.S. population is growing older and living longer than ever before, transforming our society, health care and retirement systems, and expectations for our later years. With increasing longevity, the retirement landscape has changed dramatically. The mindset of today’s retirees has shifted from living a life of leisure for however many years were left, to pursuing new dreams, new goals and new passions, and making the most of what could be a 20-, 30- or even 40-year retirement.
Retirement phases
Given the potential to live longer lives in retirement, we’ve abandoned the idea of a linear retirement and embraced the possibility that our retirement years, like our working years, will take us through several phases. For purposes of planning for housing in retirement, it makes sense to look at retirement in three phases and to plan for the changes that come with each phase:
- Retirement phase 1: The active phase
- Retirement phase 2: The downshift phase
- Retirement phase 3: The wind-down phase
This resource guide is intended to help address the following:
- More on planning for different phases of retirement
- Should you upsize, downsize or relocate?
- Age-friendly communities
- Aging in place and other retirement housing options
- Technology/assistive devices
- Financing housing in retirement
- Having the talk
- Resources to help you make an informed decision