Most of us have heard the term, "survival of the fittest". If people are asked to provide another word for "fittest", most people choose "strongest". When they are told that is wrong and to try again, most people hesitate for a second, then choose "smartest" or "most intelligent". If you thought "survival of the fittest" meant survival of the strongest or the most intelligent, you're not alone, but both are wrong, at least from Charles Darwin's perspective.

This term was not Darwin's originally. It was first used by Herbert Spencer, an English philosopher, who tried to sum up Darwin's theories in a simple manner that could be more easily understood by the general public then the term Darwin had used, "natural selection". Darwin accepted Spencer's suggestion at first, but later found that people were confused about its real meaning, a problem still present today.

So what did Charles Darwin actually mean? Here are his own words. "It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change." [emphasis added]

For a lot of folks, retirement is all about money, the equivalent of "strength" in this context. How much do I need? Do I have enough? These are perfectly legitimate and very important questions, but they are very difficult to answer since the future is unknown in both respects. Money is the focus of nearly all discussions on retirement planning. Fine, but I am trying to introduce another factor that needs serious attention: adaptation to change. That is what I discussed in my article at Barron's and that is what I will continue to discuss.

Let's go back to 1989 when everyone in the US in their 50's or 60's today was in their 30's and 40's. Back in 1989, those in their 50's and 60's numbered 42,416,619. Today, that age group numbers 68,569,811 (all stats are from the US Census Bureau). While the total US population grew by 24.2% over those twenty years, this age group grew by 61.7%. But these numbers include people who were born before the "baby boom". If we just look at people in their 50's over this period, all of whom are numbered among the "boomers", we find they have grown by 87.6% and there are more coming behind them.

These increases are stunning. This has never occurred before in the US (and many other nations today) and so it is truly unprecedented. It is only one change of several that affect the Retirement Bubble (increases in lifespans due to advances in medical science, for example), but it is important and it has a great effect on everything.

I will be speaking of money, especially earning it, on many occasions here at the site, it is necessary and unavoidable, but everything I will discuss will be within a greater context, one of great change and our ability to adapt to it without having to first witness millions of retirees hit the wall.

Strength and intelligence are always important, but adaptability will be the deciding factor.

[If you enjoy this site and want to keep up with new additions, click here to subscribe to updates to The Retirement Bubble website and blog by e-mail. Your contact information will not be sold or shared with anyone else, unless required by law.]