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Holistic Wealth is the New Retirement Plan
Manage episode 498239032 series 2858981
In this episode of the Holistic Wealth Podcast, we explored why Holistic Wealth is the new Retirement Plan. More and more people are waking up to the fact that saving a portion of their income in a retirement fund for decades isn’t enough to guarantee freedom, security or fulfillment later in life. The conventional retirement model was designed in an era of stable jobs, predictable pensions and low healthcare costs. That era is over.
Why Traditional Pension Plans No Longer Work
- Rising living costs
- Economic uncertainty
- Longer lifespans
- Job instability
These factors have made the old-school retirement plan obsolete for many. What’s needed is a new framework to address all the major facets of our lives and helps us build resilience (including financial resilience). Holistic Wealth as well as the Holistic Wealth mindset are powerful frameworks to help create a life of balance, financial security, and emotional resilience—factors that science proves can be beneficial to those in retirement planning. In this episode of the Holistic Wealth Podcast, we explore how Holistic Wealth is the new Retirement Plan.
Why Holistic Wealth is the New Retirement Plan
The Old Retirement Plan Is Crumbling:
Retirement Is Becoming Financially Unattainable
- According to the World Economic Forum, the global retirement savings gap is projected to reach $400 trillion by 2050.
- In Canada and the U.S., the average retirement savings for those approaching retirement (age 55-64) is less than $200,000, while they need at least $1 million to retire comfortably.
- 1 in 4 Americans aged 50+ has no retirement savings at all (AARP).
The Job Market No Longer Rewards Long-Term Loyalty
- Average job tenure has dropped to 4.1 years (U.S. Bureau of Labour Statistics).
- Traditional pensions are now rare. In 1980, 60% of private-sector workers had a defined benefit pension. Today? Just 4%.
People Are Outliving Their Money
- Life expectancy is increasing. A person retiring at 65 today may need 30+ years of income — and most aren’t prepared.
- The number of people aged 100+ has doubled in the last decade (UN data).
Resources Used In This Episode:
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