What happens when retirement lasts for decades?

Retirement is often treated as a finish line. But for people who live into their 90s or beyond, it can mark the beginning of several decades without a salary. 

For some, that means careful financial planning. For others, it means continuing to work for as long as possible. And for many, it means learning how to replace the structure, purpose, social interaction, and financial independence that a job once provided. 

Hilly Picker is 100 years old and has been retired for about 30 years, while Joel Marx continued working until the age of 87. A former teacher in Johannesburg, who asked not to be named, retired nine years ago due to age limits in the profession. 

Their experiences show that preparing for a long life involves more than saving enough money. It also means thinking about health, housing, relationships, purpose, and how to spend the years after formal employment ends. 

Picker says he hasn’t had major financial concerns during his three decades of retirement. “That’s just pretty good. We have no complaints,” he says. Picker worked in electronics before moving into farming. He continued working to an extent after retiring. 

Today, he lives in Cape Town and remains active. He walks twice a day, meets people, and spends time at restaurants and a clubhouse. “I can’t say I’m bored.” 

For Picker, staying active is central to ageing well. “As far as I’m concerned, I feel quite strong and healthy. You’ve got to keep yourself busy at all times and you must relax. You’ve got to find something to do,” he says. 

His experience highlights an important part of retirement planning that cannot be measured in rands. People need to consider how they’ll spend their time once work no longer structures their days. 

After decades in the family business, Marx found himself with more time than he knew how to use. “After working under pressure for so many years and never having enough time, I’ve got too much time on my hands and it is depressing in a way,” he says. 

Marx’s retirement came after the closure of K Marx Curtain Specialists, a family business established by his father, Kurt Marx, in 1936. The business was initially based in Loveday Street in central Johannesburg. Marx grew up around the business and eventually joined it formally in 1956 at the age of 20, trained from the bottom up by his parents. “There were no shortcuts,” he told the SA Jewish Report. 

The business grew, but so did its costs. Marx says his family raised and educated three children on a “very meagre turnover”. Although the currency was stronger and many basic expenses were considerably lower, he says the situation changed rapidly. “It became much more difficult to make a living.” 

The business later expanded to a Rosebank branch, which was run by his wife, Irene, and a friend, Mary Kahlberg. The branch continued until 1994, when the Mews building was demolished. The family eventually moved from central Johannesburg and bought premises in Glenhazel. Despite changing shopping patterns and the challenges brought by the COVID-19 pandemic, the business survived through its reputation and word of mouth. 

It finally closed towards the end of 2025, when Marx was almost 88 and had developed macular degeneration. He says if it weren’t for his impaired vision, “I would probably find something which I would be able and capable of doing”. 

Marx believes many older people are forced into retirement despite still having valuable knowledge and experience. In his view, many people remain willing and able to work, but are required to leave because of their age. 

The retired teacher knows what it’s like to leave working life before you’re ready. She taught at a Jewish pre-school and was required to retire at 65. She was subsequently given contracts for a number of years, before eventually leaving the workforce. “I felt like I was still in my best years of teaching,” she says. 

Retirement brought a sense of loss. “I also miss the financial independence,” she says. She and her husband have savings and investments and meet with a financial adviser every year. Her husband is also approaching retirement, and the couple will increasingly rely on their accumulated finances. While she isn’t anxious about their financial future, retirement has changed her spending habits. She now distinguishes between what she needs and what she wants. 

The two also have to consider their home. She says a house is often one of the main assets people have when they reach retirement. Selling, downsizing, or moving into a retirement facility can therefore become part of later-life financial planning. The former teacher isn’t yet ready to leave her home. She values having space for family and a garden, but recognises that circumstances may eventually change. 

She attends a crochet group, does pottery, goes to gym, and does water aerobics twice a week. These activities give her exercise, social interaction, and a reason to leave the house. She advises younger people to start developing interests before they retire. “Work as long as you can and while you are working, develop personal interests,” she says. 

She recommends reading, gardening, crafts, golf, card games, and other activities that can provide structure. “The day is very long if you don’t have your own personal interests.” 

Financial preparation remains essential. Marx acknowledges that saving can be difficult when the cost of living rises faster than salaries. “[With] today’s prices, it’s not very easy for the average man in the street to provide too much for retirement.” 

But he believes people must still make provisions for their later years. 

The experiences of Picker, Marx, and the retired teacher suggest that financial longevity isn’t simply about accumulating enough money to stop working. It’s about preparing for a potentially long period when income, health, housing, relationships, and daily routines may change. 

Retirement may be unavoidable. But planning for it can begin long before the final working day. 

And as Picker’s 100 years demonstrate, the question isn’t only whether you can afford to retire. It’s whether you can afford to live well after you do.