We’ve Moved! 6121 Excelsior Blvd. St. Louis Park, MN 55416

How do You Define Success? How do You Measure It?

In the U.S., there are no universally accepted definitions for economic classes. According to the most recent government data, the median household income in the U.S. is $56,500, which means half of all American households earn more and half earn less.

However, when it comes to our own perception of financial well-being, many people use neighbors, colleagues, family members and other friends in their social sphere to measure their success. In light of these comparisons, you can’t help but recall the 1970s sitcom “The Jeffersons,” with its catchy theme song “We’re moving on up … to a deluxe apartment in the sky.”

You may remember some of your own achievements signifying success in life. Was it your first new car purchase? Trading up to a home in an upscale neighborhood? Reaching some arbitrary income level established in your mind? (It’s a different level for everyone.) Our inherent desire to compare our success with others can be detrimental, leading to disappointment and frustration. After all, there will always be someone with more wealth or higher income than you.

At what point do we stop competing with the Joneses? For some people the answer is “never,” as it’s ingrained in their personality. For others, retirement may be a good time to start. One study found that while a clear majority of Americans said they valued having more money over having more time in their life, those who preferred more time reported being happier.

You may have lived within your means throughout your career but if your income is lower in retirement, it’s important to adjust your lifestyle accordingly to stay within your new limits.

Get the latest retirement news today!

Subscribe Now

  • This field is for validation purposes and should be left unchanged.

Pick your topic or keywords

Similar Posts

Getting to the Truth: How Strong is Social Security Anyway?

The number one news headline grab this month isn't the Kardashians or Donald Trump. Nor is it Spieth's distressing loss at the Open Championship by…

Continue Reading
Secured Retirement Radio: Probability Investing vs. Safety First

Blog post written by Dale Decker We all have different tolerances for risk. Some people prefer to go big and climb Mount Everest. Others are perfectly…

Continue Reading
Cary Grant’s Retirement Income Checklist

“You never miss the water until the well runs dry.” His Girl Friday (1940) – Walter Burns (Cary Grant) In the 1940’s movie His Girl…

Continue Reading