Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Gen X business owners are "scrappy, independent folks," but that grit comes with a risk, said Kerry Hannon, a Yahoo Finance columnist and co-author of "Retirement Bites." The problem: While profits plowed back into the company can boost its value, they can also concentrate wealth in a single illiquid asset. In her book, Hannon noted that 42% of small-business owners worry they'll never be ...

Core Insights - In 2025, over 800,000 jobs have been cut in the US, with nearly 300,000 in the public sector, leading to unexpected retirements for many workers [1] - Elizabeth Zelinka Parsons emphasizes the importance of focusing on emotional and psychological aspects of sudden job loss rather than rushing into action plans [2] Group 1: Job Loss and Retirement - Many American workers face job loss earlier than planned, with 70% wanting to work until age 65, but less than 30% achieving this due to uncontrollable circumstances [5] - The unpredictability of life events can accelerate retirement dates, highlighting the need for proactive retirement planning [5] Group 2: Emotional Transition - Workers often identify strongly with their jobs, making sudden retirement feel existentially threatening [3] - There is a common misconception that retirement should be a celebratory phase, while in reality, it involves significant emotional letting go [4] Group 3: Purpose Beyond Work - Zelinka Parsons suggests a 4-step framework for finding purpose beyond work, indicating that retirement is an ongoing evolution that requires thoughtful consideration of life goals [6][7] - The notion of "failing at retirement" is more complex than simply viewing retirement as endless leisure, suggesting a need for deeper engagement with post-work life [8]