Redefining Retirement: A New Perspective for Women
Retirement is increasingly being viewed not just as a financial milestone, but as a transition into a different phase of life. This perspective shaped our inaugural Hightower Signature Women virtual conversation series, Redefining Retirement, hosted by Leda Zukowski, Head of the Advisor Advancement Institute at New York Life Investment Management.
With women expected to play a significant role in the transfer of generational wealth in the coming decades, the discussion highlighted the importance of being intentional about how those assets are used and what retirement can realistically look like.
Below are several themes that emerged from the conversation.
1. Retirement Is More Than a Financial Target
While financial preparedness remains important, the discussion emphasized that retirement also involves lifestyle, priorities, and personal goals.
Participants were encouraged to consider:
- How they want to spend their time
- What activities matter most to them
- What kind of daily life they want to create
This broader approach can help individuals think beyond a single number and focus on how retirement fits into their overall life plan.
2. The Role of Work and Identity
For many individuals, work is closely tied to identity. Stepping away from a long career can raise questions about purpose and how time will be spent.
Some participants expressed interest in:
- Continuing to work in some capacity
- Pursuing activities they enjoy
- Staying involved through mentoring or volunteering
Rather than viewing retirement as a full stop, the discussion framed it as a shift in how time and energy are allocated.
3. Planning Needs to Account for Change
Several participants shared personal experiences that underscored how plans can evolve due to life events such as loss, health changes, or shifting priorities.
This highlighted the importance of:
- Building flexibility into plans
- Revisiting goals over time
- Being open to adjusting expectations
Having a plan is important, but so is the ability to adapt when circumstances change.
4. Addressing Common Concerns
The discussion surfaced several common concerns related to retirement, including:
- Whether savings will be sufficient
- How to replace the structure of a work routine
- How to maintain a sense of purpose
One approach discussed was turning uncertainty into specific questions that can be addressed through planning, conversations, and ongoing review.
Greater clarity can help individuals feel more informed about their decisions.
5. A Broader Framework: Health, Wealth, and Personal Goals
The session introduced a simple framework for thinking about retirement across three areas:
Health
Physical well-being can influence how retirement is experienced. Participants discussed maintaining activity levels and making consistent lifestyle choices.
Wealth
Financial considerations remain central, including:
- Income planning
- Managing expenses
- Preparing for potential long-term care needs
Personal Goals
Participants also reflected on:
- Interests they may want to explore
- Skills they may want to develop
- Ways to stay engaged day-to-day
Bringing these areas together can provide a more complete view of retirement planning.
6. The Importance of Relationships
Relationships and community were highlighted as an important part of life after retirement.
Participants discussed:
- Spending more time with friends and family
- Building new social connections
- Finding support during major life transitions
Maintaining these connections can play a meaningful role in overall well-being.
6. The Importance of Relationships
A key takeaway was the importance of being intentional about what retirement looks like on an individual level.
Some participants had clear plans, while others were still exploring possibilities. Taking time to write down ideas or discuss them with others can help clarify goals.
The discussion noted that many people have not formally defined what they want retirement to look like, which can make planning more difficult.
8. Transitioning From Saving to Spending
Another topic that came up was the adjustment from earning income to drawing from savings.
Participants noted that:
- Spending can feel unfamiliar after years of saving
- Having a structured plan can help guide decisions
- Regular review can help maintain confidence in a plan
This transition is both financial and behavioral and often requires a shift in mindset.
Final Thought
The conversation reinforced that retirement is not a single event, but an ongoing process that includes financial preparation, personal reflection, and adaptability.
Taking time to consider goals, priorities, and potential changes can help individuals approach this stage of life with greater clarity and awareness.
To help you continue thinking through these ideas, you can access the event materials below:
Stay Connected
If this conversation prompted you to think about your own retirement path, we invite you to continue the discussion with us.
At Signature Wealth, we work with clients to help align retirement and wealth planning with individual goals, priorities, and evolving life circumstances. You can stay connected by joining our Signature Women community and subscribing to our newsletter to receive updates on upcoming events, conversations, and insights—feel free to share with others who may be interested.
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This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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