Retirement planning is based on a simple narrative: In the productive years, people work and save money in order to live off later. For workers in this country, this usually means a state pension based on paid social security contributions, supplemented by private pension provision.

However, this model assumes that income, contributions and financial planning options end at a certain age — and that the combination of pension and savings is sufficient to support the usual lifestyle in the long term. However, the longer the life span, the greater the phase in which financial stability must be ensured without current income.

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The key question is no longer how long savings will last, but how financial stability can be sustained throughout a long life.

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Why this matters

Classic retirement planning strictly divides life phases into employment and retirement. This thinking ignores two key developments.

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1. Health and performance are not linear. At 60 or 70, many people are mentally capable, experienced, connected — but financially committed to a model that provides for passivity.
2. Financial security is created not only through capital, but also through options. Anyone who can contribute, work or generate income remains more independent — both economically and psychologically.

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Withdrawing from work therefore often means more than a loss of income. It reduces room for manoeuvre, weakens self-efficacy and increases long-term financial vulnerability — particularly in a system with rising living costs and uncertain pension models.

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A matter of perspective

Financial planning often starts with figures: retirement age, savings rates, target amounts. A Wealthspan approach starts earlier and brings one aspect to the foreground — the idea of one's own future life.

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What do everyday life, priorities and living environment look like in the 60s, 70s or 80s?
Which activities should remain possible?
Where should people live?
What is considered essential — and what is optional?
And last but not least: What should this life feel like?

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These questions provide orientation beyond traditional retirement logic. They help to base financial decisions not only on security, but also on the ability to act, flexibility and quality of life over decades.

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Studies show that people with multiple sources of income, social inclusion and meaningful work not only remain healthier, but also more financially resilient — regardless of formal employment status.

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Key takeaways

Based on terms such as Lifespan and Healthspan, Wealthspan describes a form of healthy financial planning: not as preparation for retirement, but as securing financial capacity for action over all adult phases of life.

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1. Income is not either/or

‍There is a wide spectrum between full-time work and complete inactivity: project-based work, consulting, mentoring, investments or entrepreneurial roles. These forms not only extend income but also autonomy.

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2. Experience is an economic value

‍Knowledge, understanding of context and interpersonal skills increase with age. Wealthspan uses these resources — instead of shutting them down early on.

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3. Financial resilience requires activity

‍If you remain active, you can react to changes: health-wise, economically or socially. Passivity is dependent — on capital markets, systems or third parties.

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4. Health and wealth span are linked

‍Physical and mental stability enables participation. Conversely, financial capacity to act has a positive effect on stress and health. Wealthspan is therefore not a purely economic concept, but a psychosocial concept.

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Conclusion

Retirement is no mistake — but it is too narrowly thought of as a central goal in life. In a society with long life spans, financial security is achieved not through retreat, but through flexibility, participation and adaptability.

Wealthspan means not dividing your own life into “working time” and “afterwards,” but thinking about income, meaning and health over decades.