When would be the ideal time to retire? Now, don't think about your age. Think about a particular decade or period of time. Let's say you had a time machine that could take you three decades into the past or the future. When would you choose to retire? And do you think it'd be better to retire in the past, today, or in the future? That's not easy to answer. But the point is retirement — like fads and fashion — changes with time.
Retirement today isn't the same as it was 20 or 30 years ago, and it won't be the same a few decades from now. In fact, you know those sprawling, cookie-cutter retirement communities in places like Florida? The ones that have been so popular for decades? Well, many retirees today aren't into those. They prefer customized homes, with private outdoor spaces and smart technology. Why? Because attitudes, opportunities, and technology change with time. And that means that 30 years from now, you or your children could face a much different retirement than what today's retirees experience.
So, how exactly will retirement change in the future? Let's find out by looking at some of the top trends predicted for retirement in 2050.
- Retirement will span decades, not years
- The average retirement age will go up
- The average retirement income could increase
- Medicine will be personalized
- Transportation will get smarter
- The meat and dairy industry may be replaced
- Vacations may reach space
Click here to read the details behind the above predictions. No matter when you retire there can be some really exciting things to look forward to. There can also be some wild curve balls and incredible surprises that you never saw coming. And whether or not any of these predictions come true, there are some things about retirement and life that (probably) won't change in the future.
Still, thinking about the future can help you make better decisions. Contact one of our advisors today to discuss your retirement opportunities.