Four pillars of the new retirement
Our research in partnership with Age Wave reveals four key pillars to consider for living well in today’s new retirement.

Our research in partnership with Age Wave reveals four key pillars to consider for living well in today’s new retirement.
Wealth and leisure used to define success in retirement, but not anymore. Today it centers around four pillars — health, family, purpose and finances. Thought and action about each of these pillars can help in achieving your ideal retirement.
Scott Thoma
Today, people are reaching their 60th or 65th birthdays and they're beginning to think, "Wait a minute…I might have 20, 25, 30 years of life in front of me. It's a whole new chapter in life!"
Today, people are retiring from work but they're not retiring from a connected and purpose-filled life.
A study conducted by Edward Jones and Age Wave identified four key pillars that are redefining what it takes to live well in this new retirement.
Josh Colwell
We've found that focusing on all 4 pillars are key. They are:
These four pillars are intertwined…which really illustrates the need to think more holistically about planning for — and living well — in retirement.
Julie Kelly
People are living longer than they did decades ago, and as a result, they have more years in the retirement stage of life.
Retirees today find that health is often more important than wealth to live in retirement, So, it's really important to take those steps to improve both your physical and mental health where you can.
Scott Thoma
72%1 of retirees say being a burden to their family is one of their top fears, but 45%2 of American adults have not discussed their long-term care preferences with anyone at all.
So, think about starting those conversations now with your loved ones to help prepare and have a plan in place for the long term.
Josh Colwell
You can be 65 or 72 and decide you want to go back to school, or maybe you're living in retirement and you’re a little bored and want to work in retirement …but do something completely different...by choice.
Julie Kelly
Retirees want to spend their time in useful, rewarding ways. And they’re very capable of doing so, given their decades of life experiences. Having a strong sense of purpose can lead to a happier, healthier life.
Nela Richardson
As we all know, people focus on saving for retirement. OK, now you're in retirement. Are you prepared to manage your life, manage your finances, make tradeoffs? Should you go on that vacation you’ve always dreamed of, or should you help a family member buy a new house?
What about legacy? What about charitable giving? Understanding how to manage these tradeoffs is also key to a higher well-being in retirement.
Julie Kelly
The new retirement holds exciting possibilities and today's retirees have more choices and opportunities and freedoms than ever before.
The reality is living well in retirement isn't guaranteed. It requires a strategy to help you get there, which is centered around all four of these interrelated pillars.
Scott Thoma
If you're getting close to retirement, you can use these four pillars to support a fulfilling and meaningful way of life.
By addressing these and other issues, possibly with the help of a financial professional, you can set yourself on the path toward the type of retirement that's really not a retirement at all — but rather a new chapter.
1 – 2 The Edward Jones and Age Wave Thought Leadership Study, "The Four Pillars of the New Retirement," 2020.
Health is the new wealth
Being healthy is about being able to do the things you want
Cognitive ability and brain health are also important
It’s never too late to improve your health
As important as sound finances are, today’s retirees overwhelmingly say health is more important than wealth to live well in retirement.1 Good health not only offers choices. It can also help protect retirement savings. But while good health is the ideal, most adults spend 10 years in poor health.2
The expanding family circle
Family is the greatest source of satisfaction, support and purpose.3 But retirees worry about becoming a burden on their families, often as a result of health-related issues. On the flip side, they’re willing to offer financial support to family even if it jeopardizes their own financial future. 4
“All working people need to understand the quality of their lives in retirement is rooted in what they do to improve their health, their relationships with family and friends, their sense of purpose, and their finances long before they retire.” 5
The key to happiness: finding your purpose
Retirees with a strong sense of purpose are happier, healthier and live longer.6 Their greatest source of purpose: spending time with loved ones, but also on their list is learning and growing. Yet now, with more than seven hours a day of free time, one in three retirees struggles to find purpose in retirement. 7
Financial security and the freedom it brings
For most retirees, it isn’t about accumulating wealth for wealth’s sake. Instead, it’s about having enough resources to provide security and allowing them the freedom to live the lives they want. Over half of retirees wish they’d budgeted more for unexpected expenses.8
While retirement was changing before COVID-19, the pandemic accelerated this transformation. We tracked these changes via two studies; one study focused on COVID-19’s impact across the pillars. The other study looked at the growing importance of family in retirement with the pandemic as a backdrop. Some insights from these studies include:
Retiring well today is about more than money — it includes health, family and purpose. Does your plan take them into account? At Edward Jones we’ve been helping people plan their futures for over 100 years. And we’ve always believed you’re more than just your portfolio. Let’s talk. The first meeting is on us.
These ground-breaking studies reflect our efforts in partnership with Age Wave to explore people’s hopes, dreams and concerns in retirement.
Resilient Choices: Trade-offs, Adjustments and Course Corrections to Thrive in Retirement (2023)
Full report (PDF)
Executive Summary (PDF)
Longevity and the New Journey of Retirement (2022)
Full Report (PDF)
Executive Summary (PDF)
The Four Pillars of the New Retirement: What a Difference a Year Makes (June 2021)
Full Report (PDF)
Important Information:
1 - 8 The Edward Jones and Age Wave Thought Leadership Study, "The Four Pillars of the New Retirement," 2020.
9 The Edward Jones and Age Wave Thought Leadership Study, "The Four Pillars of the New Retirement: What a Difference a Year Makes," 2021.