Big week: more than two million people plan to attend the inauguration of Barack Obama in Washington, DC on Tuesday. I read somewhere that 5,000 port-a-potties will be available for those two million people, bringing new meaning to the words "audacity of hope".

***

Two financial reports have arrived, each offering a glass-half-full message. According to a study by the MetLife Mature Market Institute and author Richard Leider, what matters most to middle-aged and older Americans is the importance of having purpose in one's life. Good for them, eh? Apparently the most content people among us focus on the non-financial essentials in their lives, even during difficult economic times. Money is only part of what makes older Americans tick, if the report is to be believed. Living "the good life" means spending time with family and friends and enjoying good health, as well as having a financial safety net and the time to do what is important.

The report, based on interviews with more than 1,000 Americans between the ages of 45 and 74, explores what brings contentment to those in the second half of life (it says here). Respondents, regardless of financial status, maintain that their goals are primarily meaning-based.

"Living the good life is not as closely equated with material wealth and physical comfort as we have traditionally believed," said Sandra Timmermann, director of the Institute. "We found through this research that people who make valuable use of their lives through meaningful work, make time to socialise, pursue personal interests and travel, and care for their physical and spiritual health, are more likely to have contentment and purpose in their lives.

"Having enough money to be comfortable, a different standard for everyone, remains important as well, but it's not the only, or even the most important, focus. This information may inspire Americans to do some life planning, beyond finances."

The study data breaks down some myths.

1. The myth that material wealth makes for the good life. When asked to select from a list of 13 activities that contribute to living a purposeful life, respondents were most likely to select spending time with friends and family (86 percent) and taking care of themselves physically (63 percent). These purpose-driven activities become increasingly important as people age, the report said.

2. The myth that happiness equates to the absence of misfortune. Over the years, most people experience one or more negative 'trigger events', such as serious illness, the death of a friend or family member and/or a major financial loss. Some 59 percent of the respondents experienced at least one such negative trigger event over the previous 12 months. Positive events, such as the birth of a grandchild or getting a new job, can also serve as trigger events. Most trigger events are not under a person's control, but Americans who live the good life are able to regain happiness after the trigger is pulled through the meaning in their lives, the report said.

3. The myth that the good life equals more (e.g. more friends, more money, more health or more activity). The good life comes from balance and alignment of financial security, health and meaningful activity. This usually means lightening one's load by doing away with burdens that lead to unnecessary and/or unproductive activity.

And there we have it. The secret of life. And this newspaper cost you, what, a dollar?

The full study, Discovering What Matters: Balancing Money, Medicine and Meaning is now available at www.maturemarketinstitute.com under "What's New."

The second, scarier report is from The Hartford Financial Services Group. It says that for millions of Baby Boomers and older adults around the globe, the prospect of retirement is becoming a source of angst as people worry less about enjoying the good life and more about whether they will have the financial resources to meet the basic necessities.

The report shows that the number one financial concern for people aged 45 and older is "keeping up with daily expenses for food, shelter and other basic needs such as health care".

The report, er, reports: "Those concerns grew decidedly graver in the US, the UK and Germany compared to last year, when the number one concern was 'enjoying my life'." This is the generation whose anthem was "Hope I die before I get old." Now why we know why. The survey polled 6,750 consumers in the US, UK, Germany, Spain, Italy, Japan, South Korea, Taiwan and Australia.

"As millions of Baby Boomers around the world close in on retirement, they are realising that they are financially unprepared to start this new chapter in their lives," said Peter Smyth, executive vice-president of The Hartford's International Markets.

"Our research tells us that few people are planning for retirement, most lack confidence in their financial acumen, and many don't know where to turn to for advice," he said.

"As the world ages, more people are coming to the realisation that they need to plan, save and invest for their own financial security in retirement. The vision of a comfortable retirement can be more than a dream. With proper planning, it can become a way of life."

That's the other secret of life: it's never too late. Still time for the Boomers to tune in to financial discipline, turn on a saving programme, and eventually drop out of the rat race.