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Retirement Living

10 Ways Retirement Has Changed Over the Past Decade

Rodney Brooks
|
November 22, 2019

The way people retire is quite different than it was even 10 years ago. That means you need to change your way of thinking about retirement. If you are still planning for retirement like you did a decade ago, you could be in trouble. 

Here's a look at how retirement has changed over the past decade:

  1. Retirees are living longer.
  2. Retirement could last for several decades.
  3. Baby boomers have redefined retirement.
  4. A shift from pensions to 401(k)s.
  5. Becoming a millionaire is no longer enough.
  6. CDs and bonds generate less income for retirees.
  7. The 4% rule no longer holds.
  8. Historically low taxes.
  9. Grandparents as an ATM.
  10. Higher health care costs.

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"Rodney A. Brooks's “Fixing the Racial Wealth Gap” is one of the best written and most prescriptive books I’ve read on this prickly subject. Using powerful stats, stories and insightful wisdom, it is written from the heart, mind, body and spirit … plus years of research and thought as a mainstream journalist. Fixing the Wealth Gap is revealing, humorous, instructive and sobering." - Dr. George C. Fraser