The Four Pillars of the New Retirement: What a Difference a Year Makes
Edward Jones - Chad Choate, AAMS
Aug 11, 2021
Florida - Sarasota, Bradenton & Charlotte Counties
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This study builds on the landmark study from 2020 which explored the four pillars of living well in retirement health, family, purpose and finances. This new study reveals how the timing and funding of retirement are being adjusted, shining a spotlight on the importance of purpose and contribution post-work, and describes what Americans now say are the most critical aspects of both the financial and non-financial elements of comprehensive retirement planning.
76% of Americans credit the pandemic with helping them "refocus on what's more important in life."
View 2021 Report
The Four Pillars of the New Retirement
Our study surveyed 9,000 North Americans across five generations and identified four areas (dubbed the Four Pillars) that impact the quality of life in retirement: health, family, purpose and finances. Achieving your ideal retirement requires thought and action about each of these pillars.
Most retirees wish they had done a better job planning for the financial (61%) and non-financial (54%) aspects of retirement.2
Pillar 1: Health
Part of what's new about retirement is a longer lifespan and more years in this life stage. Good health offers choices. Unfortunately, most adults spend 10 years in poor health. The most feared condition in America is Alzheimer's and other forms of dementia.
90% of Americans older than 50 say that being healthy is about being able to do the things you want.1
Pillar 2: Family
Family is the greatest source of satisfaction, support and purpose. On the one hand, adults 50+ worry about becoming a burden on their families. On the other hand, they are willing to offer financial support to family regardless of how it affects their future.
72% of retirees say being a burden to their family is one of their top fears, but one in four Americans older than 65 have not discussed their end-of-life care preferences with anyone at all.1
Pillar 3: Purpose
Retirees say their greatest source of purpose is from spending time with loved ones. They also value learning and growing. Yet now, with more than seven hours a day of free time, one in three new retirees struggles to find purpose in retirement.
89% of Americans feel there should be more ways for retirees to use their talents and knowledge for the benefit of others.1
Pillar 4: Finances
The role of money in retirement is to provide security and freedom. Over half of retirees wish they had budgeted more for unexpected expenses. When it comes to the unexpected, the cost of health care is more worrisome than a recession.
Two-thirds of Americans who plan to retire in the next 10 years say they have no idea what their health and long-term care costs will be in retirement.1
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Edward Jones - Chad Choate, AAMS
Financial Advisor 828 3rd Ave. W., Bradenton, Florida, 34205Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Edward Jones - Chad Choate, AAMS
Financial Services 828 3rd Ave. W., Bradenton, Florida, 34205Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Edward Jones - Chad Choate, AAMS
Retirement Planning 828 3rd Ave. W., Bradenton, Florida, 34205Experience and BackgroundI am a financial advisor in Bradenton, FL, and began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals.As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that.Whether you're planning for retirement, saving for college for children or grandchildren, or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service.But we're not alone. Thousands of people and advanced technology support our office so that we can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals.I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program.I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.