09 Jul 2026 The People on the Bus
We talk about buses a lot in my house these days. We have 2 versions of “Wheels on the Bus” on regular rotation, and I’m probably in the top 1% of listeners to both Raffi and “Elmo bus.” Like many toddler parents, we point out every single “double-decker” bus (red city bus = double-decker to our kids) and school bus that we see around town. So, when I read Morningstar’s Christine Benz’s book intro, which relates retirement planning to a bus ride, that analogy stood out to me.
Benz’s book, How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement, is a collection of conversational essays she had with many financial gurus. In the book introduction, she reminds us just how much has changed in the retirement landscape since the 1970s, when the first 401(k) launched.
“As WSJ columnist Jason Zweig once memorably put it… the pension system was akin to everyone riding the bus toward a destination, in this case retirement. When the bus arrived at its terminus (retirement), everyone filed off in an orderly fashion and that was that. By contrast, the defined contribution (401(k)) system requires everyone to hop into their own private cars to drive on roads they haven’t yet navigated…They may not even be sure where they’re going!”
That analogy captures the reality of retirement today. We are expected to become our own planner, investor, and decision maker, and that can make retirement planning feel chaotic. We used to ride the retirement bus through employer-sponsored pension plans. Now, although pensions still exist for some workers, most people are expected to drive themselves through 401(k)s and other savings vehicles. Every job or career change brings a set of decisions: evaluate a new retirement plan, determine savings contribution rate based on new comp, and set a new investment allocation. Then you also have to decide whether to consolidate old plans, distribute assets, or keep the balance sheet growing longer with retirement assets spread out among various plans.
Access to information and advice exploded with the technology boom and now AI. Which is great. We want everyone to have access to education and tools to level out the playing field. And, also, the sheer volume of information and planning tools can lead to analysis paralysis or expose people to just plain bad advice. Could there be a tipping point when there is too much information at our fingertips? Too many potential resources to consult before making a decision? Who do we consult when resources produce conflicting advice?
When I take a trip, I want to know generally where I’m going. I also want to explore the neighborhood along my way to the destination and leave room for flexibility if something new looks appealing or if something unexpected happens that requires my attention. I want to talk to people who have been to this destination before, ask for their recommendations, and find out what to avoid. I also love being on a group trip where there’s one person everyone counts on to know the important details (thanks, Rachel!) and keeps the group in line.
Retirement planning should not require you to navigate the unfamiliar all alone. At Beacon, we want to be your trusted travel guide to help you avoid potholes when possible and choose between the various paths before you. The retirement path varies from person to person. We hope to facilitate real, honest conversations about how to navigate life, decisions, and finances when you may not even know where you are trying to go yet. We use planning software to connect your financial life with your hopes and dreams for the future, and to illustrate how today’s decisions impact tomorrow’s options. We’d love to help you create a plan that’s right for you.
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