There’s something about a birthday that ends in zero that hits differently. And I have one of those this week.
I’ve spent more than half my professional life thinking, writing, and talking about retirement — how people get there, how they prepare (or don’t), and what it all means when work finally loosens its grip.
And yet, when you hit a milestone like this, “theory” gets very personal very fast.
Truthfully, this isn’t what I thought “this” would feel like. Not dread. Not triumph. Just … different. Though lately, I’ve been thinking about it more than I expected.
See, it’s not just another candle (you’d have to forewarn the local fire department). It’s a checkpoint. A round number that invites reflection whether you ask for it or not. Sure, it’s just another year. But it’s a whole other category of living.
That said — and I’m happy to be able to say this — I don’t “feel” my age.[i] Or what I thought it would be like to be this age.
No longer bound by office start and stop times, the “rigor” of commutes, the (seemingly) endless pattern of meetings and conference calls — time, and the opportunity to see and do “other” things beckons.
You start to notice how you spend time, and who you spend it with. You’re more aware of what drains you — and what gives energy back. You get better (though it’s still a work in progress) at saying “no,” not because you’re tired, but because you’ve learned that every “yes” displaces something else.
There are a fair number of age markers in our business; age 50 for catch-ups, 59 ½ for penalty-free withdrawals,[ii] 62 for early Social Security withdrawals, 65 (as adjusted) for retirement/Social Security, and age 73 or 75 for RMDs (depending on your age). We’ve even recently added some others (ages 60-63) for “super” catchups. And let’s not forget the implicit retirement age “marker” associated with target-date fund selection.
These markers give us an opportunity — an “excuse,” if you will, to engage with individuals along the way to help them consider different, and perhaps better, ways of financial preparation. Their advantage is you don’t need anything more than a calendar to anticipate and track them. Their limitation is that many arrive too late for truly meaningful course corrections — when time, compounding, and flexibility are already constrained.
If there’s a lesson in those age-based milestones, it’s this: milestones matter, but they don’t have to define you. They’re prompts, not verdicts. Invitations to take stock, adjust course, and — if you’re lucky — keep doing meaningful work with people you respect — and for people that need your support.
Because if you’ve learned nothing else by the time you reach a birthday that ends in zero, remember that the future is never guaranteed — and the time to make change — is finite.
- Nevin E. Adams, JD
[i] Some of you, surely, are thinking to yourself “and you sure don’t act it, either!”
[ii] I’m cognizant of the rule of 55, though I suspect many aren’t.
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