Before the 20th century, retirement, as we understand it today, didn’t exist. While some people throughout history managed to live their twilight years in comfort and security, such an experience was reserved for the very wealthy. Most people worked until they died or depended on the love and charity of family to support them once their working days are over.
Thanks to immense leaps in modern medicine, better hygiene, and improved quality of life, people began living longer lives. As a result, retirement became a concept we’ve come to know well – and something we fought for.
However, the expectations and realities of life in retirement are continually changing and evolving. Your retirement situation is most certainly different from that of your parents. The same probably goes for what retirement means to your children versus what it means to you. Today, people still fight for more robust retirement benefits.
With this in mind, many aspects of retirement may have changed since you last brushed up on the subject. Catching up on this information will be vital to planning your retirement as best as possible.
The following are seven things you might not know about life in retirement.