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Most Americans aren't paying attention to a key part of retirement that has nothing to do with investing
Most Americans aren't paying attention to a key part of retirement that has nothing to do with investing

Yahoo

time03-07-2025

  • Business
  • Yahoo

Most Americans aren't paying attention to a key part of retirement that has nothing to do with investing

A Lincoln Financial survey found that most Americans see retirement as a new chapter to pursue pastimes. Yet, many pre-retirees aren't planning or budgeting for those pastimes. The firm partnered with podcast host Rich Roll to explore ways to make pastimes last a lifetime. Americans may be brushing over a key component of retirement planning: What they want their days to look like, how they want to spend their time, and what pastimes they want to incorporate in their golden years. A 2025 survey from Lincoln Financial found that 77% of Americans in their 50s and 60s view retirement as a "new chapter" to pursue passions they didn't have time for while working — yet, the majority haven't actually planned or budgeted for pastimes in retirement. While pre-retirees intend to do additional planning for pastimes once they hit retirement, only 38% report having done some or a lot of planning. The majority of pre-retirees have done little to no planning for how to spend time in retirement. To inspire pre-retirees to flip the script, Lincoln Financial partnered with wellness advocate and podcast host Rich Roll on a four-part video series, "The Action Plan." Roll spoke with tennis legend Andre Agassi, the "The Psychology of Money" author Morgan Housel, and others about how they're planning ahead to ensure they can pursue their pastimes into retirement. "My generation has a very different relationship with retirement than our parents did," Roll, 58, told Business Insider. "We're not in a job and looking toward that date on the calendar where we're going to hang it up and then go play golf. That's just not the typical experience, and it's not really the way the world works anymore." Plus, lifestyles and lifespans have changed. "We're also healthier and living longer and more vital in our older years than that generation, which begs the question: How can I continue to do these things that I enjoy doing? And these things cost money," said Roll. Perhaps more money than you'd expect. Lincoln Financial also surveyed retirees age 50 and above, and among that group, 39% underestimated the cost of their pastimes. To plan for the cost of your hobbies and pastimes, you have to spend time thinking about how you actually want to spend your time in retirement and what will make you feel fulfilled, whether that's picking up a sport or an instrument, volunteering, teaching, gardening, or hosting. Roll found inspiration in Agassi's outlook. "What lights him up is creating opportunities for other people," he said of the retired tennis player turned philanthropist. "I think that's a really important lesson, especially for anyone who is approaching the later stages of their career who wants to stay engaged, whether through personal activities or through business: Tie whatever that passion is to something that holds greater meaning than just yourself. And I think that's a recipe for maintaining your connection with your vitality and continuing to pursue a life that is meaningful and purpose-driven." If you're approaching retirement and feeling behind on planning or saving, you have company. "Less than one in 10 retirees had a firm estimate on what their day-to-day costs were, so anybody who falls in that category, they're not alone," James Reid, executive vice president of Lincoln Financial, told BI. That said, "It starts today. Today starts the wave for the future." Roll, who started his career in corporate law and quit to train as an ultra-endurance athlete, considers himself a "late bloomer" when it comes to his career and finances, and recognizes that he still has "a lot of work to do." "In a perfect world, I would have just been stashing away small amounts of money every single month since I was 21 years old. That's just not what I did," he said, adding: "It's not too late. If you're someone like myself who hasn't been putting money away for the past 25 years, that is something that you can still overcome, but you have to face it." The author, podcast host, and public speaker has no intention of slowing down anytime soon. When asked if he thinks he'll ever retire, he was quick to say, "I don't." But he's laying the foundation now to have the option of scaling back from work if he ever wants to. "I don't think of retirement like, I'm just one day going to flick a switch and it's all over," he said. "I don't imagine that day ever coming, nor do I really aspire to that, but I also recognize that everything is impermanent. The promise to myself, at least with the podcast, is that I'll continue to do it as long as I find it invigorating and interesting and nourishing in all the ways that it currently is, but one day will come where I'll say, 'I think I've done enough of this.'" Read the original article on Business Insider

Most Americans aren't paying attention to a key part of retirement that has nothing to do with investing
Most Americans aren't paying attention to a key part of retirement that has nothing to do with investing

Business Insider

time03-07-2025

  • Business
  • Business Insider

Most Americans aren't paying attention to a key part of retirement that has nothing to do with investing

Americans may be brushing over a key component of retirement planning: What they want their days to look like, how they want to spend their time, and what pastimes they want to incorporate in their golden years. A 2025 survey from Lincoln Financial found that 77% of Americans in their 50s and 60s view retirement as a "new chapter" to pursue passions they didn't have time for while working — yet, the majority haven't actually planned or budgeted for pastimes in retirement. While pre-retirees intend to do additional planning for pastimes once they hit retirement, only 38% report having done some or a lot of planning. The majority of pre-retirees have done little to no planning for how to spend time in retirement. To inspire pre-retirees to flip the script, Lincoln Financial partnered with wellness advocate and podcast host Rich Roll on a four-part video series, " The Action Plan." Roll spoke with tennis legend Andre Agassi, the "The Psychology of Money" author Morgan Housel, and others about how they're planning ahead to ensure they can pursue their pastimes into retirement. "My generation has a very different relationship with retirement than our parents did," Roll, 58, told Business Insider. "We're not in a job and looking toward that date on the calendar where we're going to hang it up and then go play golf. That's just not the typical experience, and it's not really the way the world works anymore." Plus, lifestyles and lifespans have changed. "We're also healthier and living longer and more vital in our older years than that generation, which begs the question: How can I continue to do these things that I enjoy doing? And these things cost money," said Roll. Perhaps more money than you'd expect. Lincoln Financial also surveyed retirees age 50 and above, and among that group, 39% underestimated the cost of their pastimes. To plan for the cost of your hobbies and pastimes, you have to spend time thinking about how you actually want to spend your time in retirement and what will make you feel fulfilled, whether that's picking up a sport or an instrument, volunteering, teaching, gardening, or hosting. Roll found inspiration in Agassi's outlook. "What lights him up is creating opportunities for other people," he said of the retired tennis player turned philanthropist. "I think that's a really important lesson, especially for anyone who is approaching the later stages of their career who wants to stay engaged, whether through personal activities or through business: Tie whatever that passion is to something that holds greater meaning than just yourself. And I think that's a recipe for maintaining your connection with your vitality and continuing to pursue a life that is meaningful and purpose-driven." Catching up on retirement planning and saving If you're approaching retirement and feeling behind on planning or saving, you have company. "Less than one in 10 retirees had a firm estimate on what their day-to-day costs were, so anybody who falls in that category, they're not alone," James Reid, executive vice president of Lincoln Financial, told BI. That said, "It starts today. Today starts the wave for the future." Roll, who started his career in corporate law and quit to train as an ultra-endurance athlete, considers himself a "late bloomer" when it comes to his career and finances, and recognizes that he still has "a lot of work to do." "In a perfect world, I would have just been stashing away small amounts of money every single month since I was 21 years old. That's just not what I did," he said, adding: "It's not too late. If you're someone like myself who hasn't been putting money away for the past 25 years, that is something that you can still overcome, but you have to face it." The author, podcast host, and public speaker has no intention of slowing down anytime soon. When asked if he thinks he'll ever retire, he was quick to say, "I don't." But he's laying the foundation now to have the option of scaling back from work if he ever wants to. "I don't think of retirement like, I'm just one day going to flick a switch and it's all over," he said. "I don't imagine that day ever coming, nor do I really aspire to that, but I also recognize that everything is impermanent. The promise to myself, at least with the podcast, is that I'll continue to do it as long as I find it invigorating and interesting and nourishing in all the ways that it currently is, but one day will come where I'll say, 'I think I've done enough of this.'"

5WPR Wins Gold Stevie Award for PR Campaign of the Year (New Product Launch) with BERO
5WPR Wins Gold Stevie Award for PR Campaign of the Year (New Product Launch) with BERO

Malaysian Reserve

time05-05-2025

  • Business
  • Malaysian Reserve

5WPR Wins Gold Stevie Award for PR Campaign of the Year (New Product Launch) with BERO

NEW YORK, May 5, 2025 /PRNewswire/ — 5WPR, one of the largest independently-owned PR and integrated communications firms in the U.S., is proud to announce that its work for BERO has won the prestigious Gold Stevie Award for PR Campaign of the Year in the New Product or Service Launch category at the 2025 American Business Awards. Launched in October 2024, the BERO PR campaign was designed to introduce Tom Holland's celebrity-founded brand into the rapidly growing non-alcoholic beverage category with authenticity, credibility, and impact. The campaign's strategy for market introduction combined top-tier media placements, thought leadership, influencer engagement and amplification of strategic partnerships, all to build momentum from day one and position BERO as long-term industry innovator. To ensure a meaningful debut, 5WPR worked under embargo leading up to launch, securing exclusive coverage in Forbes and Fast Company on day one. Post-launch, the campaign sustained strong media interest, earning additional coverage in Fox Business, CNN, and other key outlets. These efforts were made stronger through partnership with Tom Holland's personal team at Shelter PR, who complemented the product and brand narrative with a series of 1×1 broadcast interviews including Rich Roll, Food and Wine's Tinfoil Swans, Late Night with Seth Meyers, The Tonight Show Starring Jimmy Fallon, and more. Within the first month alone, the campaign generated over 2.5 billion media impressions, establishing BERO as not only a celebrity-owned brand, but a serious player in the beverage space with a premium product and thoughtful mission. 'We are beyond thrilled to receive the prestigious Gold Stevie Award for our efforts on the BERO campaign,' said Leigh Ann Ambrosi, Managing Partner & EVP, CPG & Lifestyle at 5WPR. 'This win reflects the strategic thinking, creativity, and relentless dedication our team brought to making BERO a standout success. We are proud to have helped establish such a forward-thinking brand as a leader in the non-alcoholic beverage space, and this recognition reflects our commitment to delivering outstanding results for wonderful clients.' The American Business Awards® (The Stevie Awards) are recognized as one of the most coveted global honors for business achievements, celebrating excellence in marketing, communications, and public relations across various sectors. All 2025 Public Relations Award winners can be viewed here. This recognition further solidifies 5WPR's expertise in launching new brands with cultural relevance, long-term resonance, and measurable impact. About 5WPR 5WPR is a full-service PR agency known for cutting-edge programs that engage with businesses, issues, and ideas. Founded in 2003, 5W has been named a top US and NYC PR Agency by leading industry publication O'Dwyer's, as well as awarded Agency of the Year in the 2024 American Business Awards®, and continuously brings leading businesses a resourceful, bold, and results-driven approach to communication. The agency has more than 250 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and Digital Marketing (Social Media, Influencer, Paid Media, SEO). In addition to its business accolades, 5W was named to the 2024 Digiday WorkLife Employer of the Year list. For more information and to join our team visit 5W Careers. Media Contact Chris Bergincbergin@

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