Retirement Metrics
I think more and more about retirement these days. I’m still a few years off, but I need to start planning. I often think about it in terms of the number of years I’ll still have the ability to get around and engage in relatively demanding activities, and about structuring my life in retirement around my level of mobility. This will change over time, so I’ve collected some metrics that help me think about those changes.
The 3-Go Framework
I don’t remember where I heard about this one. I think it was from a conversation with a someone who is already retired. It is the basic framework I use to think about my remaining years, which fall into three categories:
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Go-Go Years — These are the years in which I will remain physically active, with the ability to get around easily and see the world. I’ll still be able to have active travel experiences and will be able to tick off those bucket list items.
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Slow-Go Years — The body will start slowing down. I’ll still be able to travel, but if I haven’t summited K2 by then, I never will. I’ll need to start reorienting my daily life around driving less and walking more.
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The No-Go Years — I’ll be pretty much done by this point. My mental and physical abilities will be in steep decline. I’ll be far less self-sufficient, and may be suffering some fatal illness. The end is near.
This seems pretty bleak now that I see the words on the screen, but that’s the reality.
The QTR Metric
I read about this one in a recent article in The Wall Street Journal, which a reader, Marty, explains: “It stands for quality time remaining. Take your age and subtract it from the age of your last living parent when he/she passed away. Subtract 2-3 years for the final fatal illness and that is your QTR.”
My parents are both still living, so I (optimistically?) estimate my “sunset age” at 90. I reckon that the Marty’s 2–3 years of “final fatal illness” are roughly equivalent to the No-Go Years.
Retirement Start
This is the date retirement begins. It is an estimate until it’s not. I personally am targeting age 55.
Putting It All Together
Let
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RS= Years until retirement starts -
GG= Number of GG years -
SG= Number of SG years
Then
QTR = GG + SG + RS
The X Factor
One open question is this: When to I move from Go-Go to Slow-Go? I’ve got to believe that’s at least partly up to me. I’m a firm believer in the “use it or lose it” principle, so I know I’ve got to stay active.