Retirement, reimagined

The old idea of retirement — a single moment when work stops and leisure begins — no longer fits the modern world. Longer lives, shifting work patterns and uncertain finances are turning retirement into a gradual process rather than a fixed event. Christina Castle, author of Foord’s Teach Your Child to Invest series, explores how the boundary between work and retirement is becoming more fluid — and why that may be a good thing.

A longer journey

For most of the past century, retirement was designed for shorter lives. People worked until their early sixties and spent a decade or two living off savings and pensions. That formula is breaking down. Many will now spend as long in retirement as they did raising children or paying off a mortgage. Yet few have the resources to fund thirty years without income.

Governments are trying to adjust. Germany has proposed raising its retirement age to 73. Emmanuel Macron has spent enormous amounts of political capital raising the French retirement age by a few years. But individuals, too, are adapting. Some work longer by choice; others out of necessity. Either way, the line between working life and retirement is blurring.

The rise of the blended retirement

Rather than a sudden exit from the workforce, more people are easing out gradually — consulting, mentoring, or turning hobbies into modest income streams. Some scale back to part-time roles; others start small businesses or volunteer. The arrangement offers flexibility, social connection and purpose — things often lost in a full stop.

The financial logic is equally clear. Working a few extra years can extend savings and delay drawing down capital. It can also reduce the emotional shock of leaving behind routine and identity — a shift that catches many new retirees off guard. Retirement, seen this way, becomes a series of adjustments rather than an abrupt change.

Money matters — but so does meaning

Longer lives require more planning, not only for income but also for relevance. Financial security matters, but so does purpose. Studies show that continued engagement, whether through work or community activity, improves health and wellbeing in later years. The most successful retirees are those who treat the transition as a phase of reinvention, not retreat.

Planning for flexibility

For investors, the implications are practical. Retirement portfolios should be built for adaptability — able to fund early leisure, late-care needs, and possible income gaps in between. Diversification across growth and income assets remains essential. So too does accepting that retirement may include some form of continued work, whether for enjoyment or necessity.

At Foord, we see retirement not as an end point but as a continuum. The goal is resilience: portfolios — and people — that can adapt as circumstances change. After all, retirement is no longer something to finish, it is something to invest in wisely.