Redefining the Road to Retirement
Whether it鈥檚 financial stability, or a sense of purpose, staff and faculty are shaping their next chapter
Build Your Future
Learn more about Duke's retirement plans.
Blandford, 56, who has about five or so more years before he retires, is already planning a fulfilling path with inspiration from former colleagues.
He鈥檚 worked with Fidelity advisers managing Duke鈥檚 , who have assured him he鈥檚 on track. In retirement, he鈥檚 considering volunteering to teach math or computer coding to high school or community college students. He and his wife, Maureen, also hope to travel to destinations like Spain, Greece and Japan.
鈥淓very day that I get closer to that retirement window, the realization that it鈥檚 coming, and that I need to make sure I have planned accordingly, becomes more real,鈥 Blandford said.
The reality of retirement is hitting many at 老牛影视 and 老牛影视 Health System, where 12,708 full-time staff and faculty are currently between the ages of 55 and the traditional retirement age of 65.
Across the country, more Americans are reaching 65 than ever before, with an estimated 4.1 million celebrating the milestone last year. This trend 鈥 often called the 鈥渟ilver tsunami鈥 鈥 sees and is expected to continue through 2030. As a result, more employees at Duke and beyond are preparing to transition from their careers into the next chapter of their lives.
Some look forward to playing with grandchildren, traveling with loved ones, devoting more time to hobbies such as painting or gardening or giving back through volunteer work. Others envision starting new journeys guided by professional passions. And for some, uncertainties about purpose or financial security make retirement plans less clear.
鈥淲e have resources in place so that everyone at Duke can prepare for their future,鈥 said Antwan Lofton, Vice President for . 鈥淲hether it鈥檚 our retirement savings plans, the financial wellness seminars that we offer, or help from Fidelity, we ensure that people are prepared for the day when they are ready to pass their work on to the next generation and move into the kind of retirement they want.鈥
To explore retirement, Working老牛影视 asked staff and faculty age 55 and older to share their hopes and questions about the future. We also gathered insights from retirees on what to expect.
A Goal and Plan to Meet It
Toni Pierce, 57 I Truls Ostbye, 70
For years, Toni Pierce set a clear goal: retire at 57. If Truls Ostbye had his druthers, he might work until he鈥檚 90.
Both feel confident in their savings through Duke鈥檚 retirement plans 鈥 Pierce with , and Ostbye with the .
Pierce, who will complete 35 years at Duke this year, plans to retire this spring from her role as an Administrative Specialist for the Chief Nursing Officer at 老牛影视 Hospital.
She鈥檚 eager to follow her passion of serving others at her church, volunteering in the community and spending time with family. She鈥檒l begin taking payments from her retirement plan, a traditional pension that provides hourly and biweekly employees with a guaranteed monthly income at retirement.
鈥淎 lot of companies don鈥檛 offer pensions to their employees anymore,鈥 Pierce said. 鈥淚t鈥檚 a wonderful benefit and blessing to have.鈥
Since joining Duke in 2000 as a Professor of Family Medicine and Community Health specializing in epidemiology, Ostbye has consistently contributed to his 403(b) Duke Staff and Faculty Retirement Plan. His savings have also been boosted by Duke鈥檚 automatic contributions for eligible salaried employees paid monthly.
If he remains healthy, Ostbye wouldn鈥檛 mind working another 20 years until he鈥檚 90 or so 鈥 the age when his two mentors retired.
鈥淚 have seen in my mentors that continuing to work in an interesting job at Duke can help you stay healthy and sharp,鈥 Ostbye said.
Retiree Reflections
Doc Muhlbaier, 75, Associate Professor of Biostatistics and Bioinformatics, retired in 2021 after 49 years at Duke. Muhlbaier and his wife live in the Croasdaile Village retirement community in Durham. He enjoys playing tennis.
鈥淧ut as much money as you can afford into Duke鈥檚 retirement. When you're a younger employee, the money you put into your retirement account is going to be gaining compound interest for 20 or 30 or even 40 years. When I would get an annual increase, I would often treat it like I didn鈥檛 and put that extra money into retirement savings.鈥
Nancy Senter, 66, Senior Project Manager in Duke Health Technology Solutions, retired in 2020 after 32 years at Duke. Senter has spent time at her beach home with family and enjoys new crafts and exercise and swim classes.
鈥淚t鈥檚 so important for people to plan ahead. For me, Fidelity was great at helping me understand what I had at Duke and what decisions I could make. I attended retirement information sessions every year offered by Duke Human Resources. Then, I also tell people to go to your local, trusted bank and say, 鈥業 need to learn more about retirement.鈥 Really spend time understanding what kind of income sources you鈥檙e going to have when you retire.鈥
Will the Savings be Enough?
Mila Rosario, 56
Mila Rosario feels like she鈥檚 doing all the right things for retirement. She has contributed to a retirement account for years and began adding to her 403(b) plan when she joined Duke as a Medical Records Coder in 2020. She lives frugally and doesn鈥檛 spend extravagantly.
Still, with rising costs, she鈥檚 not sure her savings will be enough to retire in 11 years.
鈥淭he way the economy is, and the direction it鈥檚 heading, who can afford to retire at 67 these days?鈥 she said. 鈥淣ot knowing what the future of retirement will be, I鈥檓 trying to keep an open mind.鈥
Rosario is eager to travel to see family around the world, spend time with her three adult children, and dedicate more of her life to volunteering in her ministry. But she鈥檚 open to a part-time job for both mental and financial enrichment.
鈥淚 see retirement as an opportunity to try other things and to do more to help others,鈥 she said. 鈥淚 hope that is what awaits me when and if the time comes for me to retire.鈥
Retiree Reflections
John Gardner, 69, Warehouse Associate at 老牛影视 Press, retired in 2020 after 12 years at Duke. Gardner lives in Sneads Ferry, where he likes to sit on the front porch and watch the boats go by.
鈥淲hen I retired, I didn鈥檛 owe any money. My house was paid for, my car was paid off. If you don鈥檛 owe a bunch of credit cards or a house payment or car payment, it doesn鈥檛 take that much money to survive. We can do a whole lot more than survive. We can pretty much do anything we want to.鈥
Willa Bonner, 71, Administrative Assistant for Duke Health Technology Solutions, retired in 2020 after 46 years at Duke. Bonner is active with the Durham Center for Senior Life and volunteers for Duke HomeCare and Hospice.
鈥淥ut of those 46 years, I probably aggressively put money in about 15 years before I retired. I should have started 30 years before I retired. But when you鈥檙e young, you don鈥檛 think about things like that. For most of the time I just kind of looked at my finances and decided what I needed to spend each month and whatever was left over, I put into retirement savings.鈥
Waiting for the Right Time
Susan Blackwell, 65
Susan Blackwell is torn. She鈥檚 reached an age where many peers she met when she started at Duke in 1989 have retired. But she isn鈥檛 quite ready to make that leap, yet.
鈥淪ome days I want to retire soon, other days I want to keep working for as long as I can,鈥 she said. 鈥淚 feel like I still have lots to give to Duke.鈥
For Blackwell, a Physician Assistant in Oncology and the Duke Cancer Institute, the desire to continue working isn鈥檛 about money or ensuring she has a nest egg.
鈥淚t's more about still having something to give and still wanting to come in and be with people, help work through problems, solve problems and make things better,鈥 said Blackwell, who started working with a financial adviser about 15 years ago.
One factor that could be a tipping point: Blackwell鈥檚 husband also works at Duke and is content as a physician in his 70s.
鈥淲hen he says, 鈥極K, this is it,鈥 I will probably say, 鈥極K,鈥 too,鈥 Blackwell said. 鈥淏ecause then it鈥檒l be more of a family choice to spend more time together and see the grandkids.鈥
Retiree Reflections
Julieta Giner, 64, Clinical Research Nurse in Pediatric Infectious Diseases, retired in 2021 after 28 years at Duke. She often travels to visit family across the globe and stays active walking her dogs, going to the gym and socializing with neighbors.
鈥淚'm half Spanish and the Spaniards have three phases of life: The first phase is your infancy and schooling. Your second phase is your productive years, working. And then the third phase is your retirement or senior, elderly years. I remember hearing about that when I was traveling over the years, and I thought that was really a neat way to kind of like split up your life. And I love that they call retirement 鈥榡ubilacion鈥欌 that鈥檚 really kind of cool.鈥
Barbara Webb, 77, Health Unit Coordinator at 老牛影视 Hospital, retired in 2010 after 41 years at Duke. Webb enjoys volunteering for Morehead Avenue Baptist Church and participating in activities with the Durham Center for Senior Life.
鈥淛ust make sure you don鈥檛 retire too young. I still talk to a lot of young people at Duke, and I tell them, 鈥楧on't be going from job to job leaving because some people don't give you that pension for retirement.鈥 If you leave Duke, you might just have Social Security. A lot of them have thanked me because now they're getting a pension from Duke, and they're getting their Social Security.鈥
Well-Being Through Community
Vince Guaglione, 55
Decades ago, when he was in his early 20s, Vince Guaglione was talking with an older man in his Philadelphia neighborhood about retirement. The man said that his idea of a satisfying retirement would be to build a circle of 30 friends and visit a different one each day.
鈥淔or some reason that just stuck with me,鈥 said Guaglione, who is in his 18th year as a Senior Software Developer with Duke Health Technology Solutions. 鈥淚鈥檝e always thought that would be a great mantra to have for your retirement because you鈥檇 stay connected.鈥
For Guaglione, who plans to retire in his late 50s or early 60s, staying socially connected is key to his well-being in retirement.
He hopes to maintain friendships made since moving to the Triangle area in 2007. He also plans to stay active with the Raleigh Astronomy Club, where he regularly volunteers, and is open to a part-time job to expand his social circle.
鈥淚 like being around people,鈥 Guaglione said. 鈥淚 like being involved in my community.鈥
Astronomy is one of the many passions Vince Guaglione, a Senior Software Developer with Duke Health Technology Solutions, hopes to pursue in retirement. Photo by Travis Stanley.
Retiree Reflections
Hortense Jones, 74, retired as a Pharmacy Technician Supervisor serving Lincoln Community Health Center in 2016 after 45 years at Duke. She teaches piano lessons, is a member of a flower garden club and started her own business making decorative wreaths.
鈥淜eeping active and looking after your health is the best thing you can do. You鈥檝e got to just keep going. No matter what it is, you鈥檝e got to keep doing the things you enjoy. It鈥檚 about staying active, staying informed and taking charge of your life.鈥
Sarah Ringel, 66, retired after 19 years at Duke in 2019 as a Practicing Family Physician at Duke Primary Care Hillsborough. She鈥檚 found peace of mind through meditation, exercise and playing viola with the Durham Medical Orchestra.
鈥淪elf-care has taken a much more prominent role in my life. I wasn鈥檛 doing a good job of self-care when I was working. I was really into caring for other people. Caring for myself was kind of tedious. And it still is. 鈥 A lot of self-care is about 鈥榃ho am I back to? Who am I going to be?鈥 Some issues I had set aside in my 20s lingered and needed some attention. Self-acceptance has been essential.鈥
A Desire to Serve
Michelle Canfield, 56
Throughout her life, Michelle Canfield, a Family Nurse Practitioner at Duke Cancer Center Raleigh, has volunteered in various roles, including serving as an Emergency Medical Technician, leading her son鈥檚 Boy Scout troop, and helping the Food Bank of North Carolina by sorting potatoes and packing meals.
鈥淭he Food Bank work reminded me of childhood,鈥 said Canfield, who grew up helping on her family鈥 s farm in northeastern North Carolina. 鈥淟iving in a farming community, we grew everything. We dug our own potatoes and picked our own okra or whatever was growing at the time.鈥
While she finds satisfaction helping surgical oncology patients through their pre- and post-operative care, Canfield is looking forward to retirement, when she can find purpose by volunteering.
Canfield would like to mentor younger nurses or serve as a docent in a small historical museum. When she was in college, she and her friend, a fellow aspiring nurse, said that they wanted to spend part of their retirement volunteering to rock babies in a hospital.
鈥淚 just like connecting with people and giving back,鈥 Canfield said. 鈥淲hen you grow up in an area where there were people who didn鈥檛 have much, giving back has always meant a lot.鈥
Retiree Reflections
Jane O鈥橞riant, 69, retired in 2018 as an Accounting Specialist at the Fuqua School of Business after 44 years at Duke. She regularly volunteers at Duke HomeCare & Hospice, where her husband and mother received care before passing away roughly five years ago.
鈥淰olunteering just makes me feel better, especially working with Duke Hospice and knowing that I鈥檓 helping a worthy organization, or volunteering with my church family. It鈥檚 just important to stay connected to your family, connected with your friends and the people who are important to you. It鈥檚 just a good feeling.鈥
Karen Jean Hunt, 68, retired after 15 years at Duke in 2017 as the Librarian for African and African American Studies with 老牛影视 Libraries. Since retiring, she has served with the Peace Corps in Armenia and Ethiopia and volunteered with AmeriCorps in Alaska.
鈥淎s a retiree, you can volunteer more than people who have a job. You have more flexibility than somebody who has to go back to work. This can be your purpose. When you retire, the knowledge that you have can still be helpful to people in ways that they may not be able to see right away.鈥
Looking for a Next Act
Stuart Carr, 62
In January, Stuart Carr, a Research Program Leader with Duke Pediatrics, was stuck at his home in Hillsborough recovering from a broken arm. Unable to drive, his days involved quiet afternoons with his husband, Dennis, and their energetic 3-year old poodle, Sophie.
鈥淚 was going a little stir crazy.鈥 Carr said. 鈥淔or me, most of the time, work is not really work. I鈥檓 busy doing things, getting things together. I see it as a good thing. I like to keep my mind busy.鈥
For years, Carr assumed he would retire at 67. But after experiencing a glimpse of retirement, he realized he wanted to find a new pursuit once his time in his current role comes to an end.
What that next act might be hasn鈥檛 crystallized yet. He鈥檇 love to audit college history courses or find a part-time role contributing to the medical research he鈥檚 currently involved in.
鈥淚鈥檓 not very good at being bored,鈥 Carr said. 鈥淭here鈥檚 only so much Netflix you can watch or reading you can do. I need to do something a little more complex than that.鈥
Retiree Reflections
Marshall Adesman, 76, retired after 21 years at Duke in 2009 as the Assistant to the Executive Director in the Office of Alumni and Development Communications. He authors articles on baseball history and volunteers with The Exchange Place, a historic farm near his home in Kingsport, Tennessee.
鈥淥ne thing I鈥檝e learned is that, if you get to be retired, and you decide to just sit around, you鈥檙e probably going to die early. Your mental health and physical health are going to deteriorate, and you鈥檙e not going to be happy. I didn鈥檛 want to do that, so I knew I had to stay active. I had to get involved in something.鈥
Beth Pack, 76, retired after 18 years as a Clinical Nurse at Duke in 2013. In addition to gardening and volunteering with an arts camp, Pack also taught nursing at a community college and serves on the school board in Traverse City, Michigan, where she lives.
鈥淲hen you鈥檙e getting ready to retire, don鈥檛 think you鈥檙e just going into a lifetime of Saturdays. Think about what鈥檚 going to get you up in the morning. I like to garden, so what kind of gardening groups could you get into? Maybe you can start a second career. Think about what you can actively get involved in and how to use your skills in the new freedom retirement may present you.鈥
Watch a video and see how Kendall Mincey plans to pursue her painting passion in retirement.
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