Purpose
Anthony cited studies from areas where populations shared unusually high lifespans or a higher incidence of centenarians, said Anthony. One such area was in Idaho, where there was a strong correlation with religious affiliation. As members of the group matured, they became more important, not less. Researchers concluded that connectivity to a caring group of people might be a factor in enhancing longevity and quality of life.
Retirement, then, shouldn’t be the goal for all clients, and advisors should be more open to discussing and planning for alternatives to formal retirements.
“What do we get people to save for instead of retirement? How about freedom, age-irrespective freedom,” said Anthony. “These are emancipation funds, not retirement funds. Get to the place financially where you can do what you want, with whom you choose, at the pace that’s comfortable to you—that’s a whole lot better than retiring.”
Integration
“Leisure has no meaning outside of work,” said Anthony. “It’s the leisure lie. We’ve been told that you go from a life of all work to a life of all play and you get happy, but that’s not finding a balance in your life, that’s switching your binge. There’s a law of returns around leisure: less is more.”
Anthony noted that retirees planning to enter a life of leisure often lapse into depression. First, the retiree becomes bored with repetitive, leisurely activities. Then they become pessimistic and enter a spiral of depression.
The solution for most clients is to find a balance between work and leisure, said Anthony. Part-time jobs, seasonal work, encore careers and volunteerism can help fill the gap in their lives that their primary career once occupied.
Challenge
“One of the leading lifestyle factors impacting the progressing of both Alzheimer’s and dementia is maintaining intellectual challenge in your lives,” said Anthony.