5 minute read
by Jill Carr
Your Retirement Plan is about More than Money!
When most people think about retirement planning, they picture spreadsheets, account balances, and maybe a beach somewhere in the distance. But what if the real keys to a great retirement had less to do with money—and more to do with light bulbs, ice cream cones, and lunch dates?
The MIT Age Lab was created in 1999 to determine how to use ideas and technology to help people live “better” longer, by improving health and allowing them to “do things” well into their 80s and 90s. They have identified three questions to ask yourself when planning for a fantastic retirement – they might not be the questions you’d expect.
These questions are:
Who will change my light bulbs?
How will I get an ice cream cone?
Who will I have lunch with?
Allow me to explain.
Who will change my light bulbs?
Most people want to live in their own home for as long as they can. “I can’t wait to live in assisted living”—said no one ever. But the truth is, we’re all going to get older, and even simple tasks—like changing a light bulb—can become a challenge.
I joke now about not being able to read small print or run unless chased, but watching my parents age is a reminder that it’s coming for me too. Let’s be honest—I do not want to be climbing a chair at 80 and risk falling just to screw in a bulb. My grandpa re-roofed his house in his late 80s (legend), but that’s not my retirement goal.
Instead, we can plan ahead. Maybe that means remodeling. Maybe it’s just learning how to use an app like TaskRabbit, Thumbtack, or Angie to hire someone for odd jobs. Of course, the light bulb is just a metaphor—some needs go beyond that. You might eventually want a main-floor bedroom, wider doorways, or grab bars in the shower. As a financial planner, I help clients think through these things—what it might cost and how to be ready, so they can live independently and safely for as long as possible.
How will I get an ice cream cone?
This might NOT be on your top lists of things to think about when you retire but this question is surprisingly useful. It’s not just about the ice cream—it’s about having the freedom and resources to enjoy small pleasures.
That means budgeting for little extras and figuring out how you’ll get around if you’re no longer driving. Who’s going to take you to the neighborhood ice cream stand?
It opens the door to bigger conversations: Will you live somewhere with access to transportation, people, and activities that keep you engaged and independent, like the MIT Age Lab recommends?
My son just got his license and can now drive on his own—terrifying for us, but super convenient when we need milk. It’s weird to imagine him someday being unable to drive, but that’s the reality we all have to consider. If you can’t drive, do you have friends or family to help? Are you comfortable with tech like Uber? Will you hire a driver, Driving Miss Daisy style? Or maybe you’ll live somewhere walkable where a car isn’t even necessary.
Who will I have lunch with?
There’s a lot of research showing how important relationships are as we age. Loneliness isn’t just sad—it’s dangerous. According to this article (see link on side panel) by Psychology Today, social isolation increases the risk of dementia by 50%, heart disease by 29%, and stroke by 32%. So, the idea behind the “lunch” question is—who is in your social circle?
You might have every financial detail of retirement nailed down, but if you’re spending your days alone, it’s probably not going to feel like the dream you imagined. That fantasy of retiring to a cabin in the mountains might sound peaceful… until you realize there’s no one around to grab lunch or laugh with. If your family must travel a full day just to see you, how often will that really happen. Strong social ties can boost your mental and physical health—so maybe a “Golden Girls”-style retirement isn’t such a bad idea (just skip the spin-off where they run a hotel… way too much work).
Retirement isn’t just about having enough money in the bank — it’s about making sure your day-to-day life still feels meaningful, manageable, and connected.
Asking yourself questions like these might seem simple, but they get to the heart of what makes retirement joyful — independence, mobility, and relationships.
So, as you plan for your future, don’t stop at the spreadsheets. Think about your lifestyle, your support systems, and your community. The best retirement plan is one that funds your life and fills your days. Need help starting those conversations or planning for the less-obvious parts of retirement? I’m always happy to share more resources or just be a sounding board.
Jill Carr, Senior Wealth Advisor, CPA, CFP®, CEPA® CPFA® is a passionate Senior Wealth Advisor, continually striving to find new ways to exceed her clients’ expectations with her depth of knowledge in taxes, estate planning, and personal finance. She seeks to empower her clients to increase their own financial literacy and understanding of wealth management. She’s especially interested in helping younger clients and older single women who may need help with their finances
