Sixty-five to eighty. Income must now arrive every month without a job, from a fixed pile, for an unknown number of years. Alongside the money question sits a quieter one: forty free hours a week and nobody expecting anything. The social world begins to thin, and the market for structure, company and purpose grows.
11 first-order frictions arise in this phase.
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Three or more decades of expenses against a fixed pile.
Tax-advantaged retirement accounts, Annuities, State pension and social security, Defined-benefit pensions, Reverse mortgage and Part-time work in retirement.
Longevity is the risk nobody is glad to have.
Annuities, Long-term care insurance, State pension and social security and Withdrawal-rate strategies.
The deferred tax comes due on the state's schedule.
Tax advisors and accountants and Tax-free conversion strategies.
Forty free hours a week with nobody expecting anything.
Leisure travel and cruises, Volunteering, Golf, hobbies, and leisure industries, Lifelong learning and senior education and Senior centres and clubs.
The social world shrinks and cannot be rebuilt the way it was at twenty-five.
Senior centres and clubs, Faith communities, Pets, Later-life dating and AI companions.
Nutrition declines with income, mobility, and company.
Grocery delivery and bulk retail, Senior centres and clubs and Senior meal delivery.
Grandchildren, reunions, and the urge to know where the family came from.
Grandparents as childcare, Genealogy and DNA ancestry and Multigenerational travel and reunions.
The home must now be chosen for the body it will hold.
Downsizing, Retirement communities, Ageing-in-place home modifications and Relocating for tax, climate, or family.
Losing the licence is losing the neighbourhood.
Ride-hailing, Senior transport services, Older-driver licence testing and Autonomous vehicles and robotaxis.
The most targeted demographic for fraud.
Elder fraud protection and trusted-contact rules, Power of attorney and Identity theft and fraud protection services.