What’s the Point of Retirement?
It doesn’t sound like a modern word.
Tennis superstar Serena Williams announced her “evolution away from tennis” this week. She purposely stayed away from the “R” word. “I have never liked the word retirement,” says Williams in her Vogue interview. “It doesn’t feel like a modern word to me.” Bravo.
Retirement isn’t a modern word. The Oxford Dictionary defines retirement as, “The action of leaving one’s job and ceasing to work.” The concept of retirement has been around since Roman times. Cotton Mather (of witch trials fame) worked hard to force the elderly to retire, although without much luck.
After age 60 the average worker is useless
In 1905 a valedictory address given to the Johns Hopkins graduating class told students that after age sixty “the average worker was useless and should be put out to pasture.” The first retirement communities showed up in the 1920s, and Florida became a destination for the golf and gardening set. This might have been true when most jobs were manual labor and after 30 years many were physically worn to a point of exhaustion.
In the early 20th Century few people lived to their 60s. The average lifespan was 54 years. In 1950, when records for 60+ began being tracked, a 65-year-old man could expect to live another 12.8 years. Today he can expect to live another 18.2. Women can expect another 20.
If you’re planning to retire at 65 and do the “usual,” i.e., travel, garden, play golf, or visit grandkids, you have about two full decades to do so. That’s a long vacation.
Ceasing to work
Let’s talk about the other part of retirement: ceasing to work. If you are one of those people who slog away at a job you tolerate, live for the weekends, and dream of your retirement years, then I wish you well. I hope that your future plans aren’t upended by some unforeseen circumstance. Trying to control the future from now is risky business at best.
What if — like Serena Williams — you really like what you do? There are lots of examples of people who have no interest in retiring: Mick Jagger, Warren Buffet, more than a few members of Congress. Tom Brady retired…for six weeks. The are countless others, less famous, who aren’t ready to walk away, whether for financial reasons or simply because they want to stay engaged.
Changing your focus
In his book, “From Strength to Strength,” Arthur Brooks discusses the change we all go through, from hard-charging innovators to sources of wisdom. The challenge for each of is to accept that shift in capabilities and put it to good use. Some successfully make the leap while others struggle with it and ultimately flame out in trying to hold on forever.
Numerous studies show that people over 60 are every bit as capable as their younger peers; they just have different skill-sets. The experience, wisdom, and alternate perspective allows them to add value in ways that the young and restless can’t. Other studies show that staying engaged in daily work and being challenged are critical to maintaining mental and physical fitness. Once you stop using your body or your brain, both begin to deteriorate.
What’s next then?
Serena Williams has the right idea. Instead putting her focus on retirement, she is thinking about what’s next and how to use her skills in a different way. We should all give personal evolution a try. Not working might sound good right now, but for most people a couple of weeks is enough to make them start looking for some part-time work.
Oh, and if you’re one of those people I mentioned earlier who is trading your life now in hopes of making up for it in your retirement years, you might rethink your goals. Tomorrow is promised to no one. What matters is how you spend today, because right now is the only thing we can count on.
