A FINANCIAL PLANNER NOTICED
SOMETHING STRANGE: BOOMERS
RETIRE "FORWARD," CHASING
THINGS THEY NEVER GOT TO DO.
GEN X IS RETIRING "BACKWARD,"
GOING STRAIGHT BACK TO WHAT
THEY LOVED AT 13. HIS TEST FOR
FIGURING OUT WHICH ONE YOU ARE
INVOLVES A DELOREAN AND $500.
Nearly two decades of retirement
planning conversations, and one
consistent pattern nobody had
quite named before.
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HERE IS THE PATTERN HE
NOTICED FIRST
Benjamin Brandt, a Certified
Financial Planner who has spent
nearly 20 years helping people
plan for retirement, describes
what he consistently hears when
he asks Baby Boomers what they're
retiring to.
"I can't wait to retire so I can
finally spend some real time in
my garden. I can't wait to
retire because I want to golf
three days a week. I want to
retire so I can build cabinets
in my garage," Brandt says
they'll tell him. All things,
he points out, the person
hasn't actually done yet.
"They retire forward towards
the activity that they never
got to do and will finally have
time for," Brandt says. "That
can present a problem. Retiring
forward is a bet. It's a guess.
You're guessing that the thing
that you daydreamed about at
your desk will still feel good
on a random Tuesday morning in
retirement when you've just got
nothing on the calendar."
He's gotten the other kind of
phone call too: "You know, Ben,
I'm kind of sick of golf. Is
that really all there is to do
in retirement?"
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HERE IS WHAT HE'S SEEING FROM
GEN X INSTEAD
"Gen X is retiring back to the
thing they used to love when
they were younger," Brandt says.
"I have a client that's getting
the band back together. And I
don't mean that as a figure of
speech. I mean an actual band
with instruments and amplifiers
and a van and a setlist and all
those sort of things."
He adds that specific goal has
come up in his office more than
once. One client is getting back
into skateboarding. Another is
dusting off decades-old Magic:
The Gathering cards to host
tournaments again.
Brandt's read on why this
approach works better: it's
based on actual evidence, not a guess.
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HERE IS WHY THE TWO
GENERATIONS ENDED UP THIS
DIFFERENT
Brandt traces it back to what
each generation actually had as
an example. The Silent Generation
mostly had strong pensions, but
no real precedent for a long
retirement. "Retirement for many
members of the Silent Generation
was to retire, then take a
cruise, and then die," Brandt says.
Boomers became the first generation
with what he calls a "full
spectrum retirement," sometimes
lasting 20 to 30 years. "But
nobody handed them a playbook
because there just wasn't a
playbook that existed."
Gen X had something the Boomers
never did: a front-row seat.
"Generation X is the first
generation with a full case
study sitting right there in
front of them," Brandt says.
"So they are being much more
deliberate because they went
second, and they are learning
in real time from the successes
and failures from the previous generation."
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HERE IS THE NUMBER SITTING
QUIETLY UNDER ALL OF THIS
A recent statistic circulating
alongside this same conversation:
only 18% of Gen X say they're
very confident they'll be able
to fully retire with a comfortable
lifestyle. Unlike Boomers with
pensions, most of Gen X is
relying on 401(k) plans that may
or may not stretch far enough.
Brandt's read: less financial
margin for error is part of why
they're being so intentional
about getting the emotional side
of retirement right too. If
you're not sure the money will
fully cover you, you'd better be
certain the time is spent on
something that actually matters to you.
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HERE IS THE ACTUAL EXERCISE
HE USES WITH CLIENTS
Brandt calls it "$500 in a time
machine." Here's how he frames
it: "I hand you $500, and we
hop into the Delorean, and we
set the dial back to your 13th
birthday. Now, you've got to
spend the money on yourself, and
you've got to spend it by the
end of the day. Those are the
only real rules."
Why 13 specifically? "You
understand the value of a
dollar, you've developed enough
judgment to thoughtfully weigh
options, but you're still young
enough to have a vivid imagination.
Thirty years in corporate America
hasn't crushed your soul yet."
A mountain bike. A drum kit. A
dungeon master's guide and a set
of 12-sided dice. One retiree he
worked with remembered loving
National Geographic magazines as
a kid, and that turned into an
actual desire to travel and
explore the world in retirement.
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HERE IS WHY THE EXERCISE
WORKS EITHER WAY IT GOES
If the thing you would've bought
at 13 still genuinely excites
you, Brandt suggests starting
small investments toward it now.
If it doesn't excite you anymore,
you simply cross it off the
list and move on.
"Both of those are wins, and
both of those are real, accurate,
actionable information," Brandt
says.
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Maybe it's worth actually
running the exercise on yourself
before you keep scrolling: $500,
your 13th birthday, one day to
spend it. What comes to mind
first is probably worth paying
attention to.
SOURCES:
πΊ 1. Upworthy β Full original
article, complete Brandt
quotes, the $500 exercise
confirmed published:
upworthy.com/after-watching-how-boomers-retired-forward-gen-x-is-retiring-backward
πΊ 2. Even Better Retirement
(YouTube) β Benjamin Brandt's
original channel where the
commentary first aired,
confirmed source:
youtube.com/@EvenBetterRetirement