The Pax Financial Blog

Three Variations of Retirement

Financial Planning Feb 9th, 2018 by: Darryl Lyons

There are three different variations of retirement that should be considered by everyone. Not everyone can pick and choose the dream retirement, but knowing the three options should help you plan and navigate.


Variation 1: The Gold Watch

Traditionally, blue-chip companies provided an attractive-level pension to create income you could not outlive. The pension was a way to earn loyalty from quality employees and management. Airlines, municipalities, automotive companies, school districts and many other organizations with the scale to support pensions offered this very attractive retirement plan. If you selected the choices correctly, your widow/widower would have also received your monthly check should you have passed away too soon. In the Department of Defense (DOD), this is called Survivor Benefit Plan (SBP). Unfortunately, pensions are a dying breed. So is the gold watch you get on retirement day. When people think of retirement, they think of the gold watch pension scenario. This option is becoming less and less of a reality in the new market environment. If you've got one, count your blessings. Pensions are a lucrative benefit.


Variation 2: I Will Never Retire

This is not an uncommon approach for the entrepreneur, solo-preneur or service-oriented worker. Honestly, I would likely fall into this category as long as I'm enjoying what I'm doing. But we have to be real here. Our minds and our bodies might not allow us to "never retire." There may be a point in time where a stroke, cancer or cognitive issue prevents us from serving the market place. I hate to think of life this way, but I see it every day. In this scenario, the "never retire" worker should start planning for a day when his/her mind can't function in the same capacity. Maybe it never happens, but in regards to aging, ignorance is far from bliss.


Variation 3: PIVOT

This is the fun option. With careful planning, the worker identifies a day in his/her life where the current business card is thrown in the trashcan and a new chapter begins. The new chapter recognizes the wisdom, skills and unique experiences in life and matches them with the needs of the community. The transition is not retirement but a pivot to another direction where you might be called to serve. It is fun, fulfilling and, frankly, extends life.


Knowing the three variations of retirement, what option will you consider?


Retirement Guide - PAX Financial


This material is provided by PAX Financial Group, LLC, the opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The information herein has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All market indices discussed are unmanaged and are not illustrative of any particular investment. Indices do not incur management fees, costs and expenses, and cannot be invested into directly. All economic and performance data is historical and not indicative of future results.


Darryl Lyons

Darryl Lyons

CEO and co-founder of the PAX Financial Group, Darryl Lyons has been a licensed professional in the financial services industry since 1999. A lifelong Texan, Darryl began his career in the financial sector just one day removed from earning his bachelor’s degree in corporate financial management and accounting at St. Mary’s University. Throughout his career, he has won awards for recruiting and development from Fortune 100 companies. In January 2007, he chose to begin and develop his independent practice. He joined Andres Gutierrez and Joseph Schuetze to form the PAX Financial Group. Darryl also served as the Chairman for Brooks Development Authority. Shortly after his service, Mayor Julian Castro, named a park “The Darryl W Lyons Park” in honor of his service. He was named to the 2010 San Antonio Business Journal’s “40 Under 40 Rising Stars,” which honors people making a difference in business and in the community.


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