Caleb and Riley talk about how to have realistic expectations for when you will actually retire. Data shows that we are bad at predicting when we will retire. To help us not over or underestimate how long we discuss how pre-retirees can apply the “Rule of 61” and adjust their plans accordingly. Learn more about:

History/trends in retirement timing over the past 100 years
Why we are bad at predicting how long we will work and what that means for our financial plans
How to apply Blanchett’s Rule of 61 to better predict our future retirement age
Alternative retirement ideas such as mini-retirements and phased retirements

Memorable Quotes

“The research doesn’t paint a great picture: 50% of people retire earlier than they want to. This means they likely won’t have enough savings to support their retirement, and on average they will be 30% less happy! Ouch! This is the fast lane to a rubbish retirement.“

Resources

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11: The Rule of 61