Redefining Retirement | Dean Waggenspack | TEDxDayton

Retirement Winners in Florida Spending time with their grandchildren volunteering in the community is a time to slow down, step aside and let others take over. Some people will eventually admit that they can get the answer to the question what do I want to be? When I grow up?, according to the dictionary definition. retiring, is it separate? eliminate, retire, we want to do that for 30 years or more. I would like us all to collectively rethink

retirement

. How about we rethink and reimagine what this season of life could be like? Let's turn Nick into a lifelong entrepreneur a couple of years ago.

Nick started a consulting practice with some colleagues aimed at helping young entrepreneurs succeed Nick was 98 years old at the time Nick does not retire in Japan they do not have a word that corresponds to

retirement

his word for this last stage of life is type key that roughly translates to the reason you wake up in the morning sounds a lot better than retiring from society, so why do we Americans define retirement the way we do? Our definition is based on a single generation in American history, not the Greatest Generation. The generation before and no generation after will have a similar type of retirement.

At first there was no retirement. It was not until 1883 that Chancellor Otto von Bismarck of Prussia created the first modern pension. This pension provided financial assistance to Germans over 65 years of age. who no longer want to work Bismarck was not stupid the average German then lived for 247 years until the last century retirement was more or less the same for everyone you worked until you couldn't anymore and then you died then the exception came people born in the 1990s 1920, the Greatest Generation lived through the depression, fought in World War II, and were rewarded. Social Security began in 1936.

Corporations offered pensions and lifetime employment for the first and only time in history. the GI Bill provided free college education. those three things provided financial stability. An interstate highway system was built and air conditioning made vacations much better for the first time in history. Life expectancy exceeded 65 years. The Greatest Generation lived through the golden years. That's where we get our current definition of retirement life without work but with financial stability for those who don't follow retirement will be very different few people working for the same corporation for long periods of time lack of pension plans and high Student loan debt undermines financial stability We have added ten more years to life expectancy and with more education and less physically demanding work we are able to do later in life our generations will have a very different retirement than the older generation , more similar to previous generations;

However, instead of doing backbreaking work late in life, we have the opportunity to create our own unique, unencumbered retirement. According to an outdated definition welcomed by society,

redefining

retirement also means reimagining people over 60 who are not a single household, would you think? We group people into two stages: childhood, infant, toddler, adolescent, different ages, different growth expectations, adulthood, young middle-aged adult empty nest different names different needs different goals different stages but older my mother-in-law of 92 years old and my 65 year old neighbor are retired maybe no, they are not actually older people they have a variety of needs and interests many of us will need the financial stability that comes from continuing to work later in life many will want to overcome isolation social that comes from not having a job to go to and not doing the physical work that we have the ability to work At the end of life, like Nik, some will be able to emulate the greatest generation that lived through the golden years.

Older retirement age is a combination of those things that change over time. How about we recognize those differences? If two people worked in an organization for a long time. period of time each left to start their own business their bloggers are volunteers in the community neither of them works 40 hours a week now it gets interesting one of them is 38 years old rosa she is an entrepreneur the other is 62 years old me the Most people say I'm retired, that doesn't make any sense. Redefining retirement means rethinking the assumptions we make and the questions we ask people. For example, many young couples have experienced the annoyance of being asked if they have children in the country. path, that is a social error, but we have no problem searching. to people of a certain age and tell them if you are retired, but that is equally annoying for some people.

Having coffee with friends every day, going to the lake or counting the days until you reach 65 and can retire are ideal and rewarding, incredible , please do not do it. I guess that's what I want to do. I want to challenge us all to redefine retirement away from getting out. Eliminate the withdrawal to a new definition. A combination of passion for payment and purpose. Payment means generating income to meet our financial needs. Recognize that some people may need it or we want to continue working well into life passion means doing something is important to you it could be playing golf it could be consulting purpose means doing something for the good of the community helping others overcome a challenge or devotion to a worthy cause our eyes may be a little dimmer and our hair a little grayer, but for some of us the fire still burns within us, how enlightened we would be if we redefined retirement not as an expectation of retirement, but more well creating a space for those people who choose to commit to their own unique personality.

Combining salary passion and purpose is not what we all want to be when we grow up. Thank you.