It's time to retire the age-old notion of retirement 12/04/2016 The Oxford English Dictionary describes retirement as ‘the action or fact of leaving one’s job and ceasing to work’. For the past few centuries, this definition most likely rang true. But as people live longer and the demarcation of “old” has become blurred, so too the notion of retirement has changed. In particular, the very idea that retirement equals ceasing to work is quaint. Indeed, there is a growing sense that the possibilities in ‘retirement’ have expanded dramatically.
Our confidence that such a crucial attitudinal change has occurred is supported by the latest UBS Investor Watch report, which explored UK investors’ (defined as an individual with investable assets over £250,000) mind-sets towards work and retirement. It found that wealthy individuals are opting to pursue prolonged careers, entrepreneurship or philanthropy during the traditional retirement phase.