- A client’s vision of retirement is no longer a destination; it’s part of a longer journey.
- Accumulating assets for retirement is only half the equation.
- Recognizing the connection between Wealth + Health is essential when planning for a retirement that might last 25-plus years.
Grandpa Elmer was a big guy with big arms — perfectly suited for his job with a Nebraska dairy company.
For 45 years, my grandfather punched the clock and provided for his family. When he turned 65, the company threw a retirement party to celebrate his contributions, loyalty, and work ethic.
With time on his hands and the freedom to do whatever he wanted, Elmer took a deep breath and … spent a lot of time with family and on the front porch. Even though he wasn’t in poor health, he was not as active as when he was working. Retirement seemed like the end of a busier lifestyle.
Thirty years ago, that was a common scenario in retirement. Members of the Greatest Generation and the Silent Generation tended to view retirement as a moment in time — an event. Today, people think of retirement as the new chapter of their life. It’s part of a longer journey.
Some people go back to school or pursue a new professional calling – perhaps something they missed out on when circumstances influenced their career path earlier in life. It’s not necessarily about making money. It’s about doing something you love and you’re passionate about.
But guess what? You can only do that if you’re healthy enough to stay mobile and be productive. It comes back to maintaining your health so you have the energy to make the most of your time and resources.
Through our relationships with the MIT AgeLab and the nonprofit Transamerica Institute®, we’ve been able to take a deeper look at the connection between Wealth + Health. Financial services companies have historically emphasized the importance of accumulating assets to maintain your independence and dignity in retirement. But that’s only half of the equation. You also have to be healthy enough to enjoy your independence — and not see your hard-earned savings wiped out by healthcare costs.
At Transamerica, we’ve taken a lead role in changing the way financial professionals, retirement plan sponsors, and American workers prepare for retirement. Wealth + Health isn’t just a marketing gimmick. It’s essential for enjoying a retirement that might last 25, 30, or 35 years.
When I think about my own retirement, I don’t plan to hang it up and be done. I want to stay active. I want to feel like I’m contributing to my community. I want to enjoy my family and my friends.
That might mean fulfilling my longtime dream of running a pumpkin patch. I love the fall season, and you’re only working three or four months a year. It’s a way to stay active, have some fun, and make a little money.
Plus I think it’s something my grandpa would have enjoyed. Elmer’s Pumpkin Patch has a nice ring to it.
Securities offered by Transamerica Capital, Inc. (TCI), 1801 California Street Suite 5200, Denver, CO 80202. 2064141-0318
Transamerica Resources, Inc. is an Aegon company and is affiliated with various companies which include, but are not limited to, insurance companies and broker dealers. Transamerica Resources, Inc. does not offer insurance products or securities. The information provided is for educational purposes only and should not be construed as insurance, securities, ERISA, tax, legal or financial advice or guidance. Please consult your personal independent advisors for answers to your specific questions.