Group 1 - The core idea is that retirement readiness encompasses both financial and emotional aspects, with a recommendation of having at least $500,000 saved for a secure retirement in America [1][2] - Many individuals may be financially prepared but lack confidence or a sense of identity regarding retirement, which can be improved through a thoughtful planning process [2] - Working with a financial planner experienced in the retiree's specific industry can help avoid common pitfalls and costly mistakes [2] Group 2 - The first step in retirement planning is longevity planning, which involves understanding how long retirement savings need to last [3] - It is crucial to consider both spending and the duration of retirement, as life expectancy is often misunderstood; people tend to overestimate the certainty of living to their life expectancy [4][5] - Tools like longevityillustrator.org can provide personalized longevity estimates and probability curves, emphasizing that a good retirement plan should account for a full range of possibilities rather than fixed ages like 90 or 95 [5][6]