Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

How many years of retirement do I need to plan for?

10 Aug 2026 · 1 min

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In this segment, Richard Canfield emphasizes the importance of intentionality when planning for retirement. He illustrates a simple calculation: a 22‑year‑old who plans to work until age 65 will have 43 working years, and if the expected lifespan is 85, those 43 years must fund the remaining 20 years of retirement. This highlights the need to view retirement planning as a lifelong, purpose‑driven process that starts from the very first day of one’s expected lifespan. The speaker urges viewers to consciously define their goals, understand the cost of those goals, and construct a financial plan that aligns with their intended years of work and post‑work life.

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Going back to mindset, if you take a 22-year-old and you ask for how many years does he or she want to work, so you're going to get all different answers. If someone says, oh, I'll work till 65, okay, so that'll be 43 years. What we have to look at is that 43 years of work. If life expectancy is 85, the 43 years of work has to supply 20 more years. 63 years of life. So when we talk about intentionality, that's part of intentionality. What is it you're doing? Why are you doing it? What are you trying to achieve? That has to come at a cost, an intentional cost. We need to build a plan starting at day zero of life expectancy, however long that's going to be.