Is Retirement Planning Missing the Point? A New Approach to Living Well

We spend most of our working years planning for the distant horizon of retirement, fixating on one question: Will I have enough? Enough money to support myself when the paychecks stop, enough savings to handle life’s surprises, enough to enjoy the so-called ‘golden years’ after decades of hard work? Retirement planning, as it stands, often feels like a numbers game—calculating future expenses, adjusting for inflation, and navigating the maze of 401(k)s, IRAs, and Social Security. The emphasis is always on the financial aspect. But in the scramble to secure ourselves financially, are we neglecting something more vital?

It’s a sobering reality that, even with the best-laid plans, the future is uncertain. More and more, we read stories of retirees who saved diligently, built a safety net for their golden years, only to be met with unforeseen health issues that rob them of the chance to travel, relax, or enjoy the fruits of their labor. The dream of finally “doing what I want” in retirement—whether it’s globe-trotting or simply spending more time with loved ones—can slip away due to the very real challenges of aging.

It raises a larger question: Should retirement planning be less about the end game and more about the journey? What if we reframed it as life planning instead?

This isn’t to suggest we should throw financial responsibility to the wind. Quite the opposite. The balance lies in finding a way to live well now, while still preparing for later. Perhaps part of retirement planning should be about recognizing the unpredictability of life and making sure that we’re living meaningfully all along the way. Yes, saving for a future where you might not be able to work is crucial—but does that have to mean putting off all the things that bring joy until you’re in your 60s?

Acknowledging Financial Realities

It’s also important to acknowledge that not everyone has the luxury of focusing solely on retirement savings. For many, the present is filled with financial pressures—rising costs of living, stagnant wages, or even debt. In these cases, the traditional advice to “save aggressively” can feel overwhelming, if not impossible.

But perhaps “living now” doesn’t have to mean expensive travel or indulgent spending. It can be as simple as focusing on health, nurturing relationships, and finding purpose through meaningful work or activities. Taking small, intentional steps toward balance is the key. Maybe it’s about cooking a healthy meal at home, taking a walk with a friend, or pursuing a hobby. Life planning, in this sense, becomes about prioritizing the things that bring you joy now, not just in the distant future.

A Balanced Approach to Financial Planning

While saving for retirement remains important, it’s equally crucial to create a financial plan that doesn’t completely sacrifice your present well-being. Even if saving a large percentage of your income feels out of reach, you can start small—saving 1% or focusing on paying off debt. Making the most of employer-matched retirement contributions and exploring creative post-retirement work strategies are other ways to build your future without ignoring your present.

The key takeaway is this: Retirement planning isn’t just about accumulating wealth. It’s about cultivating a life that feels rich in every sense—emotionally, socially, and financially. When we focus too heavily on preparing for the future, we risk missing the present. Finding balance is essential.