What Does Retirement Look Like to YOU?

One family, three generations, and three distinct versions of what retirement could be. 

First Generation: My mom (Rose)

Rose is 85 years old, though you would never believe it if you met her. Rose is the oldest of five children and has spent her life caring for others, including her younger siblings, her own children, and a sick spouse. Rose worked in Human Resources until she retired at age 66.

However, Rose wasn’t ready to retire from the workforce. Instead, she embarked on a second career. At 68 years old, Rose went back to the classroom and became a Licensed Practical Nurse (LPN). Now, she works full-time as a nurse and is showing no signs of slowing down. Rose isn’t working for financial security. She’s doing it because she loves being a nurse.

Rose’s version of retirement: Follow her dream of being a nurse

Second Generation: My sister (Cathy)

At 64, Cathy retired from KOA Speer Electronics after 45 years of service. Immediately upon retiring, Cathy and her husband headed to Arizona for a month to spend time with family. Upon returning, Cathy quickly settled into a routine that allowed her the time to do all the things that she loved – walking, yoga, gardening, and spending time with friends. 

Unfortunately, that enjoyment was short-lived. Five months into Cathy’s retirement, her husband was diagnosed with cancer. The following year was spent traveling back and forth to doctors’ appointments, hospitals, and chemotherapy treatments. Sadly, her husband lost his battle, passing away in January 2025.

Since then, Cathy has begun to enjoy her retirement fully. Her time is her own to do as she pleases, and she has no desire to re-enter the workforce in any capacity, being subject to someone else dictating her schedule.

Cathy’s version of retirement: Family, friends, and loving life.

Third Generation: My nephew (Kevin, Cathy’s son)

After more than 20 years working for the federal prison system, Kevin was able to retire at the age of 48. Still being young, he briefly considered working for the state, but decided against it. Instead, he chose to focus on being self-employed and expanding Premier Media (an outdoor billboard enterprise) into the Southwest.

Additionally, being retired has allowed Kevin more time to spend with his family and work on various projects. Kevin planned well when he was younger so that he and his wife could both enjoy an early retirement while they’re still young and healthy.

Kevin’s version of retirement: Self-employment

So, what about me?

I’m Generation 2.5, about halfway between Cathy and Kevin. For me, retirement would be traveling in our motorhome back and forth across the country, up into Canada, and down into Mexico.

My husband and I love traveling in our motorhome. He works remotely, so he can work from anywhere. I have a side hustle as a ghostwriter, so I’ll still be able to earn an income while we’re on the road.

Three years ago, my husband (Dave) and I purchased a motorhome with the understanding that I would continue to work and earn a steady paycheck until we paid off the motorhome. That will happen in the next few months. 

My dilemma: I really enjoy my job and earn a good salary for this part of the country. However, I don’t have a lot of vacation and personal time available. I knew I would be giving up a lot of vacation time when I switched jobs a few years ago; however, the change was well worth the sacrifice.

Do I give up my job so Dave and I have more time to travel while we’re (relatively) young? Or, do we put that off so I can continue earning and saving?

Because it turns out that retirement isn’t as easy as going into work one day and saying, “I’m outta here.” There are several things to consider, with income being one of the biggest concerns. I’ll be too young for Social Security or to begin drawing on my 401(k), and truthfully, I’d like to put that off as long as possible. Although I’ll still earn money as a ghostwriter, the amount will be substantially less than what I’m earning now. And, once Dave and I are both fully retired, we will need a withdrawal plan that balances our lifestyle with long-term sustainability.

Another significant issue is healthcare insurance. While Dave is working, we’re both covered under his plan. But what if he decides to retire early? We won’t be eligible for Medicare yet. How do we find a plan that provides us with the coverage we need at premiums that don’t break our budget?

We also want to purchase long-term care insurance. We both understand that an extended stay in a long-term care facility would quickly eat up any retirement savings we have. But just like health insurance, it’s a balance between coverage and affordability.

Lastly, our spending habits will need to change. Less money will be spent on commuting, but other expenses will take its place. It will be a considerable adjustment to give up some of the things I enjoy. And as Kevin once said, “Life still happens in retirement.” You might get into a fender bender, the roof may leak, or have such a bad case of diverticulitis that you end up in the hospital. 

Life is short, and it’s essential to make the most of every moment you can. But life is long, and it’s just as important to have enough funds to get you to the finish line. It’s crucial to strike a balance between living fully today and securing peace of mind for tomorrow.

Once again, I ask: What does retirement look like to YOU?

More importantly –  How are you preparing for it?