Several years ago, I came across a perspective from Dr. Joseph Coughlin, founder and director of the MIT AgeLab, that changed how I think about retirement. Rather than measuring retirement in years, he encourages us to think about it in days—the average retirement today, he says, lasts 8,000 days or more. When I first heard that number, it stopped me in my tracks.
Think about what 8,000 days represents. It’s 8,000 mornings to wake up with purpose, 8,000 opportunities to create memories with family and friends, 8,000 chances to travel, volunteer for a cause you believe in, or simply enjoy an evening on the back porch. Viewed through that lens, retirement no longer feels like the final chapter of life—it becomes one of the most meaningful chapters we’ll ever write.
That realization leads to an important question: Are you simply saving for retirement, or are you intentionally planning for the life you want to live during those 8,000 days? Those ideas may sound similar, but they couldn’t be more different.
For many years, people believed financial planning was reserved for the wealthy—that if you weren’t retiring with millions, you didn’t need a plan. I’ve never believed that. Financial planning isn’t about how much you’ve accumulated; it’s about making the best decisions with the money you have. Whether you’re saving your first $100 a month or managing substantial assets, every journey benefits from a destination and a roadmap.
Imagine setting out on a cross-country road trip without entering a destination into your GPS. You’ll waste time, take unnecessary detours, and spend more than you intended. Life works the same way: without a plan, it’s easy to drift from one decision to the next. With a plan, every decision has purpose because you know what you’re working toward.
One of the things I admire most about Dr. Coughlin’s work is that he reminds us retirement is much more than a financial event—it’s a lifestyle event. The MIT AgeLab’s research shows a healthy 65-year-old couple today has a good chance that at least one spouse will live well into their 90s. Retirement may last nearly as long as the career that funded it—an incredible gift, but one that also creates a responsibility to plan for a much longer journey than previous generations imagined.
This is exactly why financial planning cannot simply focus on investment returns. It must consider the life those investments are designed to support. Where do you want to live? How do you envision spending your time? What legacy do you want to leave behind? These questions matter as much as choosing investments, because they define what success actually means to you.
I’ve often said people don’t truly want money—they want what it allows them to do: spend more time with family, help grandchildren pursue their dreams, retire because they choose to, and live without constantly worrying about running out of money. Financial planning is really about creating choices. Money is simply the vehicle that makes those choices possible.
This is also why it’s important to understand the difference between an investment plan and a financial plan. Investing is one of the most important components of long-term success, but it isn’t the whole picture. A true financial plan answers bigger questions: How much income will you need in retirement? What happens if one spouse passes away unexpectedly? Will your family stay secure if life doesn’t unfold as planned? Those conversations create confidence, and your portfolio exists to support those answers, not replace them.
During my career, I’ve helped families navigate technology bubbles, terrorist attacks, the 2008 financial crisis, a global pandemic, high inflation, and rising rates. Every one felt unprecedented at the time. Yet history keeps teaching the same lesson: markets have always experienced uncertainty, but disciplined investors with thoughtful long-term plans have historically been rewarded for their patience.
The greatest benefit of a comprehensive plan is the confidence it provides when life feels uncertain. Instead of reacting emotionally to every headline or market swing, you can ask a more important question: Has anything fundamentally changed about the life I’m planning to live? Most of the time, the answer is no—and if your destination hasn’t changed, there’s rarely a reason to abandon the roadmap designed to get you there.
One of my favorite conversations with clients has little to do with investments. Instead, I ask a simple question: “What does your ideal retirement day look like?” The answers are almost never about account balances. People tell me they want breakfast with grandchildren, afternoons on the golf course, winters somewhere warm, and the freedom to give generously to causes they care about. Those aren’t financial goals—they’re life goals, and a financial plan simply provides the foundation that makes them achievable.
That’s why I believe everyone deserves a financial plan—not because everyone is wealthy, but because everyone deserves to live intentionally. Whether you’re in your thirties just beginning to save, approaching retirement, or already enjoying this next chapter, it’s never too early—or too late—to plan with purpose. Small, disciplined decisions made consistently often produce extraordinary results.
Dr. Coughlin’s idea of an 8,000-day retirement reminds us retirement is no longer the finish line. It may be the longest, most rewarding chapter of your life. My hope is those 8,000 days remind you why you worked so hard—filled with laughter, family dinners, adventurous vacations, opportunities to serve others, stunning sunrises and sunsets, deep gratitude, amazing blueberry pie, and a hot cup of coffee after an awesome morning swim.
Keep writing your story. And please remember, when the last page is written, no one will measure your life by how much money you had. Because, when you really think about it, financial planning is about answering one simple question: “How you living?” It’s about creating the freedom and confidence to live an AMAZING life for as many of those 8,000 days as possible.
“Every new beginning comes from some other beginning’s end.” — Semisonic
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