Financial advisers are too focused on money when it comes to retirement planning, according to one expert.
"The conversation now is that retirement is some goal line to get to or it's a number to reach," said Scott Hanson, a senior partner at Hanson McClain, a financial advisery firm. "The typical person at retirement age today - the baby boomer - they don't want the retirement of their parents."
He said baby boomers want to continue to grow and flourish in retirement, instead of downsizing. "There is a shift that has been going on and so many financial advisers are still talking about this number and once you get to this number you can quit working,' he added.
He said financial advisers who are always talking about finances are missing a key factor: how people are going to spend their time in retirement. He said it's not just about money, cash flow and dividends. People might also want to have a part-time job or do some consulting during retirement.
"Everyone wants to be at a point where work is an option and not an obligation," he said. "But the goal of quit working and live on a fixed income for the rest of their life, has changed for most people."
Just because you've checked all of the financial boxes when it comes to retirement, doesn't mean you should pull the trigger and retire.
"I talk to executives who say they wish they shouldn't have retired so soon," he said, stressing the importance of thinking about factors beyond financial ones when it comes to planning for retirement with your adviser.
Though he said people still need to strategize and use the traditional retirement planning tactics like saving early and investing in the stock market.
"Equities over a long period of time are going to be your best return," he said. The broad S&P 500 is up 202% since its March 2009 low.