Financial Planning for Retirement in the 21st Century: A Psychosocial View
Wednesday, May 6, 2020
3:00 PM – 4:15 PM
Retirement has changed and will be different for individuals in the 21st century than others who retired before them. The change is due to factors such as increased longevity, and fewer safety nets. Potential retirees will transition when they are middle age instead of old age. Inadequate financial planning may have greater negative consequences for them and society. Financial planning for retirement now requires consideration of social, psychological and financial needs as individuals figure out how to thrive over a longer period of time. A theoretic model for financial planning for retirement will be discussed and its application to practice.