3 reasons not to retire

We are experiencing what is called a silver tsunami. According to Legal Jobs, “about 10,000 baby boomers turn 65 every day, and the entire generation is expected to reach retirement age by 2030.” While many people spend their working years aiming to eventually retire, there are reasons why full retirement should not be the primary goal. Even synonyms for the word pension sound negative – withdraw, give up, leave, expire.

for my book Leading with Wisdom: Sage Advice from 100 Experts, I have interviewed more than 100 leading authorities on leadership and life. A recurring theme during these conversations was the idea that full and total retirement should not be anyone’s ultimate goal. These leadership experts argued that when we step away from our day jobs, we should move on to a different kind of work—something meaningful, purposeful, and intentional.

Here are the top three reasons not to retire.

1. Retirement is an outdated term

The Social Security Act was passed in 1935, setting 65 as the official retirement age. This was set at a time when the average life expectancy was about 61 years for men and 65 for women. Life expectancy for men is about 74 and for women it’s about 80. Based on his research, MIT AgeLab director Joseph Coughlin says that retiring at age 65 gives us about 8,000 more days—essentially 21 years—to realize that what to do with live

In a 2019 post on Forbes, Coughlin calculates his conclusion as follows. “8,000 days is also roughly the same amount of time from birth to legal drinking age—age 21. Put another way, “the life between age 21 and what many might call middle age in the late 40s, it’s another 8000 days. And, from middle age to the seemingly default retirement age of 65, it’s about another 8,000 days. He says the typical pension is equal to one-third of a person’s adult life.

2. Middle life is a new stage of life

While the Covid-19 pandemic affected life expectancy, we are still living longer and healthier lives. Chip Conley, in his latest book Learning to Love Middle Age: 12 Reasons Why Life Gets Better With Age defines middle age as ages 35 to 75—or 40 years to enjoy. Conley reminds us that it’s not about living longer, but instead we have a new phase of life called midlife. Similar to adolescence, Midlife is a time when our bodies and our identities are changing just as much as they did when we were teenagers—physically, hormonally, and emotionally. It’s important to understand these changes so we don’t make mistakes that are commonly attributed to a midlife crisis.

3. Bonding is protection

For most people, workplaces are where they get their social interaction. When people leave the workforce, they often feel disconnected. American surgeon general Vivek Murthy and author of Together: The Healing Power of Human Connections in a Sometimes Lonely World, “When people are socially disconnected… the increased risk of premature death associated with social isolation is comparable to smoking cigarettes every day – and may even be greater than the risk associated with obesity.”

A more recent Surgeon General’s report titled “Our Epidemic of Loneliness and Isolation,” reveals that even before Covid-19, loneliness was an epidemic. The consequences of feeling disconnected are devastating: “a 29% increase in the risk of heart disease; a 32% increased risk of stroke; and a 50% increased risk of developing dementia for older adults.”

What should you do?

Don’t withdraw from life. Consider life after work as another phase of life. Discover, explore and experiment. Find the cause or purpose that will help you get up in the morning. If you still have a third of your life ahead of you, dream about how you want to spend this time and make something happen.

Reframe aging. Becca Levy, a professor at the Yale School of Public Health, has found that people who change their view of aging from negative to positive live 7.5 years longer. Embrace aging as a time to contribute to the world in a second career, part-time job, volunteering or even becoming an entrepreneur. Today, the average age of entrepreneurs is 42 years old.

Find new ways to stay relevant and engaged. When people feel disconnected and alone, they often feel insignificant and invisible. Join organizations and clubs. Mentor and teach others what you know. Being curious goes a long way toward finding new meaning in your life.

You don’t have to know what you want to do for the next 8,000 days. But figuring out how to use this extended phase of life takes time and thought. Start thinking now about how you want to live a meaningful life—with purpose and intent—and without ever having to retire.