Retirement Lessons from Those Who’ve Been There: What Gen Z and Millennials Can Learn Today

At Pension Pakistan, we believe every individual — whether a factory worker, entrepreneur, educator, or executive — deserves to age with dignity, purpose, and security. Let’s learn from those who walked the path before us and shape a future we’ll be proud of — not regretful about.

Factual Reality

Most people in their early 20s and 30s don’t lose sleep over retirement. With decades of work ahead, the future can feel distant — even abstract. Yet, after hearing the real-life stories of several hundred retirees from all walks of life, one thing becomes clear:

Thinking early about retirement isn't just wise — it’s essential.

This insight came from extensive conversations with older adults who generously shared their journeys — from joy-filled retirements filled with travel and family, to more sobering experiences marked by late-life financial insecurity, illness, or unfulfilled dreams.

Beyond Savings: The Emotional Reality of Retirement

Many younger people begin their financial planning with the basics — a 401(k) or similar social security schemes, an emergency fund, or a few mutual funds. But these conversations uncovered that retirement isn't just about numbers. Emotional fulfillment, mental well-being, and personal purpose often outweigh financial metrics.

Some retirees confessed they felt lost after leaving their careers, having tied their identity and purpose to their work. Others regretted sacrificing relationships or travel to build wealth, only to face illness or loneliness in retirement. Conversely, some with modest savings reported finding contentment in family, hobbies, or meaningful part-time work.

Start Early, But Stay Flexible

One recurring theme was the importance of starting early. Growth of your Pension Savings / Funds works best when given time — whether through a retirement account, mutual funds, or savings. But perhaps more vital was being adaptable. Several retirees said life threw them off course: layoffs, health issues, caregiving responsibilities, or unexpected expenses.

Despite these setbacks, many found creative paths forward. One retiree took over a small art supply business after a personal loss, discovering joy, community, and financial relief. Another, a retired pilot, returned to work multiple times — not for money, but for mental engagement and purpose.

Retirement Is Not One-Size-Fits-All

There is no single blueprint for a perfect retirement. For some, it means financial independence and global travel. For others, it’s about staying connected to community, exploring passions, or remaining active in part-time roles.

Some core takeaways that emerged from these retirement stories include:

• Start saving something — anything — as early as possible. Even small contributions can grow meaningfully over decades.

• Live below your means. Frugality can create breathing room later in life.

• Prepare for uncertainty. Financial plans may need to change due to health, career shifts, or family responsibilities.

• Don't ignore non-financial planning. Emotional readiness, purpose, and social ties matter just as much as the bank balance.

• Stay curious and open to reinvention. Retirement can be a second (or third) act.

Advice for Pakistan’s Young Professionals

In a country like Pakistan, where pensions are limited and social safety nets sparse, early retirement planning becomes even more crucial. Today’s youth must be proactive — not just with savings, but in building financial literacy and resilience.

Kaleem, a now-retired lab technician, shared this advice with his grandson: “It doesn’t matter how little you can set aside now. Just start. The habit is what matters.” He began with humble means and ended up with over $700,000 in savings — not because he had a high-flying career, but because he planned with consistency.

The Real Legacy

One 62-year-old retiree summed it up beautifully:

“I don’t have a lot in the bank, but I have my legacy — my children, my memories, and my purpose.”

Retirement, ultimately, is a deeply personal chapter. It’s not just about money — it’s about how we want to live, what gives us meaning, and how we adapt when life doesn’t go to plan.