QUICK ANSWER
The Declaration of Independence doesn't promise wealth — it promises the freedom to pursue it. Jefferson deliberately chose 'pursuit of happiness' over 'property' to enshrine self-determination as America's founding principle. Two hundred and fifty years later, a funded retirement is the most concrete expression of that promise most Americans will ever build. Here's what that means for your financial plan.
Most Americans can recite it from memory: 'Life, Liberty, and the pursuit of Happiness.'
But here's something most people don't know: Thomas Jefferson almost wrote something else entirely.
In his original draft of the Declaration of Independence, Jefferson drew from the philosopher John Locke, who identified humanity's foundational rights as 'life, liberty, and property.' Jefferson kept the first two — and then made a deliberate, historic substitution. He replaced 'property' with 'the pursuit of happiness.'
That small change is one of the most consequential edits in the history of political thought. And 250 years later, as America celebrates its Semi-quincentennial, it holds a remarkably direct lesson for anyone thinking about retirement.
What Jefferson Was Really Saying
The pursuit of happiness, in the philosophical tradition Jefferson was drawing from, wasn't about pleasure or comfort. It was about the freedom to build a meaningful life — to work, to create, to grow, to leave something behind. It was the idea that your future should be shaped by your choices, not by your circumstances or by the dictates of a distant authority.
The Founders didn't promise that every American would be wealthy. They promised something more radical: that every American would be free to try.
"The pursuit of happiness. It is a more elastic and somewhat more amorphous concept than property, but perhaps the most distinctly American idea in a document full of them." — SEC Commissioner, March 2026
Two hundred and fifty years later, that freedom to pursue — to plan, to save, to invest, to build — is still available to every American willing to act on it. But here's the part that gets lost: the pursuit requires a plan. The Founders didn't just declare independence. They built the infrastructure to support it — a constitution, institutions, markets, rule of law. They did the work.
A funded retirement is the personal version of that same idea. You're not just hoping for a comfortable future. You're building the infrastructure to get there.
The Three Rights — Applied to Retirement
Life — Protecting Your Future Self
The right to life, in financial terms, means protecting your future self from the risks that can cut it short or diminish it: inadequate healthcare coverage, disability without income protection, an estate plan that leaves your family exposed. These aren't exciting financial topics. But they are the foundation of a life that can be lived on your own terms for as long as possible.
In 2026, Medicare Part B premiums range from $202.90 to $689.90 per month depending on income. If you're planning to retire before age 65, bridging that healthcare gap is one of the largest near-term financial decisions you'll face — and one of the most commonly overlooked in retirement planning conversations.
Liberty — The Freedom to Choose What's Next
Financial liberty in retirement isn't about having unlimited money. It's about having enough options that your choices are genuinely yours. Enough to say no to the job that drains you. Enough to say yes to the trip your family will talk about for decades. Enough to help your children or grandchildren get started without derailing your own security.
This is what a written retirement income plan actually provides — not a number, but options. The clients I've worked with who feel most free in retirement aren't necessarily the wealthiest. They're the ones who made deliberate choices early enough that by the time retirement arrived, the choices were theirs to make.
The Pursuit of Happiness — The Plan That Gets You There
Jefferson didn't guarantee happiness. He enshrined the right to pursue it. That word — pursue — is everything. It implies action, intention, and sustained effort over time. It implies a plan.
In retirement terms, the pursuit looks like this: starting earlier than you think you need to, saving consistently even when it's uncomfortable, understanding where your income will come from in retirement, making deliberate decisions about Social Security timing, and reviewing your plan annually rather than letting it drift.
The Founders built something meant to last 250 years. Your retirement plan should be built to last 30. The principles are the same: clear goals, consistent effort, and the wisdom to play a long game.
What 250 Years of American Economic History Teaches Us
America has survived the collapse of the Continental dollar, the Great Depression, two World Wars, the stagflation of the 1970s, the 2008 financial crisis, and a global pandemic. Every single time, Americans who stayed invested, stayed patient, and stayed the course came out ahead of those who panicked.
The S&P 500, through all of those crises, has delivered an average annual return of approximately 10% over the long run. Not every year. Not without pain. But over time, with consistency and patience, the American economy has rewarded people who believed in its future.
That's not a guarantee of what comes next. But it is 250 years of evidence that the pursuit — steady, disciplined, long-term — tends to work.
A Practical July 4th Retirement Checklist
As you celebrate America's 250th birthday this week, here are five retirement readiness questions worth sitting with:
- Do I have a written retirement income plan — or just a savings account I'm hoping will be enough?
- Have I calculated what my income sources will be in retirement: Social Security, pension (if applicable), portfolio withdrawals, and any part-time work?
- Have I reviewed my beneficiary designations in the last 12 months?
- Do I understand the tax treatment of my retirement accounts — and how withdrawals will affect my tax picture in retirement?
- If I retired today, could I fund my essential expenses with high confidence for 30 years?
If any of those questions made you pause, that's not a sign of failure. It's a sign that the pursuit isn't done yet. And that's exactly what we're here for.
Frequently Asked Questions
How much do I need to retire comfortably in Indiana?
The answer varies significantly based on your lifestyle, healthcare needs, and planned retirement age. A general benchmark is that you'll need 70–90% of your pre-retirement annual income in retirement — but the more precise answer comes from building an actual income plan that maps your specific sources of income against your specific expenses. This is one of the most valuable exercises a CFP® can help you work through.
When should I start claiming Social Security to maximize my retirement income?
There is no universal answer — it depends on your health, marital status, other income sources, and tax picture. Claiming at 62 permanently reduces your benefit; waiting until 70 maximizes it. The difference over a long retirement can be significant. This decision is worth a dedicated planning conversation before you file.
What is the biggest retirement planning mistake people make?
The most costly mistake is waiting too long to build an income plan. Accumulating savings is one skill; converting those savings into a reliable monthly income stream is a different one — and it requires planning that should begin years before retirement, not the week you leave work.
A Note from Amy — and a Next Step
I've spent 30 years helping Evansville families plan their financial futures. And what I've found, over and over, is that the people who feel most free in retirement aren't the ones with the most money. They're the ones who started planning early, stayed consistent, and had someone in their corner keeping them on track.
That's what we do at New Horizons Financial Consultants. If you'd like to find out where you stand — and build the plan that gets you where you want to go — I'd welcome that conversation.
Schedule your no-cost Retirement Readiness Review with Amy Bouchie, CFP® CDFA® in Evansville
Call 812-618-9050
This article is for informational purposes only and is not individualized financial, tax, or legal advice. Investing involves risk, including possible loss of principal. Historical market returns are not a guarantee of future results. Medicare premium figures reflect 2026 rates and are subject to change. Consider working with a qualified financial professional regarding your specific situation.