Why Age 65 Feels Like 45 Today: How Retirement Has Transformed in Modern Times

Key Takeaways

• Life expectancy in the U.S. will increase by six years by 2060 to age 85.6, according to a report from Guardian Life Insurance Company of America.
• Key factors for a happy retirement include volunteering, socializing, and continuing to work at least a little.
• It's important to plan ahead for a fulfilling, potentially long retirement and the means to pay for it.

Retirement isn't what it used to be. Life expectancy will increase by six years in 2060 to age 85.6, according to a 2025 survey conducted by the Guardian Life Insurance Company of America.1

You may have to adjust your retirement planning to prepare for what you want to achieve in this new life chapter. Think about what you want to and how you're going to pay for it.

Reenvision Your Future

If 65's the new 45, what's your plan for your golden years? Reports indicate that those in retirement now engage in a variety of activities, including hobbies, volunteer work, socializing, relationships, and ongoing work.2

Here are some ideas:

• Tackle a new interest: Or pursue a lifelong passion that you set aside as your career took off. Start traveling. Maybe spend a year sailing and living on the water with family, go back to school to earn another degree, or start a community garden.
• Keep working, but on your terms: Perhaps a part-time job would fit your vision. Maybe launch a business based on your career.
• Focus on exercise and stay healthy: Enjoy the benefits of continued good health in your life. Get advice from a health professional on staying physically, mentally, and emotionally strong. The Guardian reports that 47% of retirees thought they'd be healthier in retirement.3
• Find happiness in new relationships and renew old ones: Use your expertise to help your community and make friends of different ages. A Harvard University study begun in 1938 found that replacing one’s work relationship with new relationships or resurrecting old ones can provide a significant emotional boost in retirement.4
• Maintain your purpose in life or find a new one: Purpose is crucial for good health, longevity, and meaningful living. Be social. Focus on family, new acquaintances, new activities, and sharing your life and work experience to help others. Carnegie Mellon University found a link between volunteering and a lower risk of high blood pressure back in 2013, and that trend is still going strong.25

Important

Plan for a retirement that keeps you happy and connected. Guardian reported that 60% of those surveyed felt they were doing “very good or excellent” emotionally in their retirement years. Only 34% responded that they were bored, and just 27% suffered from loneliness or less contact with their families than they’d anticipated.3

How to Pay for Your Ideal Retirement

Living a full, happy, active, and satisfying life in retirement can be expensive. Travel and socializing cost money, and the key concept behind volunteering is that you’re not paid for your time. What funds can you depend on, particularly if you're going for the milestone of a 22-year retirement? 

• Keep tabs on your 401(k) and IRA balances: The average 401(k) balance in Q2 2025 was $137,800, according to Fidelity Investments. The average IRA balance was $131,366.6 Consider saving 15% of your salary per year. Fidelity's savings benchmarks are six times salary by age 50, eight times by 60, and 10 times by 67.7
• Estimate the savings you'll need: Based on how much you have saved, calculate an estimate of what you'll need so you can plan more effectively and be ready.
• Save more by maxing out your retirement account contributions: You might also consider opening a taxable investment account and adding savings there. Pay down as much of your debt as possible while working to free up funds for your retirement goals. Aim to live below your means.
• Delay taking Social Security: You'll get the largest possible monthly benefit that if you wait until age 70.8 However, Social Security is expected to run dry by 2034 unless Congress acts.9
• Work longer: If you're in a job you love, consider staying with it to enhance your savings. Talk to your employer about continuing on a part-time basis in retirement.

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

1. The Guardian Life Insurance Company of America. "Retirement Redefined." Page 3.
2. National Institute on Aging. "Participating in Activities You Enjoy As You Age."
3. The Guardian Life Insurance Company of America. "Retirement Redefined." Page 4.
4. The Harvard Gazette. "Good Genes Are Nice, But Joy Is Better."
5. Carnagie Mellon University. "Press Release: Volunteering Reduces Risk of Hypertension in Older Adults, Carnagie Mellon Research Shows."
6. Fidelity Investments. "Q2 2025 Retirement Analysis."
7. Fidelity Investments. "How Much Do I Need to Retire?"
8. Social Security Administration. "Delayed Retirement Credits."
9. Social Security Administration. "Status of the Social Security and Medicare Programs: A Summary of the 2025 Annual Reports."