The Evolution of Retirement: Three trends that could dramatically impact your bottom line

Technological advances, demographic trends and financial realities have combined to change what it means to retire.  People are living longer, choosing to stay in the workforce and generally leading healthier lives in their golden years.

Understanding the new retirement landscape can be key to successfully preparing for yours.

Trend 1- Working in Retirement
Perhaps the biggest change to traditional retirement is that many potential retirees aren’t retiring at all.  Fueled by increased good health into later years, people are opting to stay in their current careers longer or transition to a new one.

A recent survey found that 70% of adults plan to continue working in retirement.  While some of this may be needs based, about half of those surveyed say they’ll do it because they “like to work.”1 For many, financial independence doesn’t mean an end to their working life, but more of a start to what’s next.


  • Map out your golden years with an eye toward your personal financial independence
  • Discuss with your spouse or significant other your plans and timeline
  • Work with an experienced financial advisor to build a plan

Trend 2- Increasing Cost of Healthcare

With healthcare costs rising virtually across the board, the impact to retirees and potential retirees is significant.  The US Department of Labor reports that family premiums are up 20% over just the past five years.2 This is despite a significant increase in the use of high deductible plans and their corresponding larger out-of-pocket costs.

The combination of the two projected into the future leads to some daunting figures that must be carefully considered.


  • Include realistic and inflating healthcare costs in your retirement projection
  • Consider investing in healthcare savings accounts and other tax-advantaged investment options
  • Understand Medicare and consider supplemental insurance

Trend 3- Increased Longevity
Advances in healthcare have significantly impacted the average life span for Americans.  While the life expectancy of a newborn in 1950 was under 703, today individuals who reach the age of 65 are projected to reach 85, with a quarter making it to 904.

The implications of this newfound longevity on retirement savings and income strategies are significant.


  • Make sure your financial plan includes multiple scenarios for life expectancy
  • Revisit and update your plan annually and as circumstances change
  • Discuss risks to your plan with your financial advisor, like a long term care event or inflation and consider how to mitigate them

Need Help?

Doug Weisenberger and Josh Evenson are experienced in helping families align their finances and their goals for the future.  They specialize in preparing for retirement, income strategies in retirement, leaving a legacy and more.  They’d love a chance to hear about your aspirations for the future and how they can help you get there.

A free consultation is a great start.  Contact Doug or Josh to set up a (no obligation) meeting today.

Doug Weisenberger

Author: Doug Weisenberger

Doug Weisenberger is a Senior Partner with North Star Resource Group in Madison, Wisconsin. For over 35 years he has helped families define and prioritize their goals for the future and then align their finances in support of them.

Registered Representative of Cetera Advisor Networks, LLC and Investment Advisor Representative of Cetera Investment Advisers, LLC.

*Financial Advisors do not provide tax or legal advice. Please consult a tax or legal professional for advice regarding your specific situation.





This article was co-written by Douglas J. Weisenberger, CFP, CLU, ChFC, CLTC & Joshua C. Evenson CFP, ChFC, CASL, in collaboration with a professional third party.

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