In this brief interview from the 401(k) Summit in Las Vegas, John Sullivan of 401(k) Specialist speaks with Patrick Delaney of T. Rowe Price about participant education and retirement planning.
Delaney highlights a critical gap in current retirement planning: most participants focus solely on financial savings without considering the emotional and lifestyle aspects of retirement. He argues that defining why you’re saving—such as what you want to do, where you want to live, and what gives you purpose—is just as important as how much you save.
To address this, T. Rowe Price developed a new program called “Visualize Retirement”. This initiative helps participants explore the non-financial dimensions of retirement through interactive workshops and workbooks, guided by advisors. The goal is to help people clarify their post-retirement vision—who they’ll spend time with, where they’ll go, and what will motivate them daily.
Delaney frames this approach as an evolution of financial wellness, combining both qualitative (emotional security, purpose) and quantitative (savings, assets) elements. By defining a personal vision, advisors can then more effectively align financial tools and strategies to meet those unique retirement goals.
📌 Key Takeaway: Retirement planning should go beyond dollars and cents. Understanding emotional readiness and life goals can lead to more meaningful and successful retirements.