Female respondents in a survey expressed greater excitement about retirement, compared to men. They see it as a liberating phase, with new opportunities to focus on themselves, develop new interest, and spend time with loved ones. Maintaining health during aging is also highly important to the women surveyed.
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Seniors are outpacing teens in fast food jobs. The part-time work supplements insufficient retirement savings and provides seniors with a purpose and valuable social interactions. Employers also prefer seniors over teens as they are more responsible and reliable.
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Too much leisure time in retirement can lead to boredom and isolation. Consider volunteering to support a meaningful cause and to enrich yourself emotionally and physically during retirement.
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Moving to a small town for retirement may seem ideal, but it’s not always a good option. Drawbacks include distance from hospital and care facilities, isolation, limited opportunities for senior activities, and limited public transportation options.
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Thanks to rising healthcare costs, increasing lifespans, growing debt, stagnant wages and cuts to federal programs, senior bankruptcy filings are way up, a new report shows.
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Many investments appear promising at first but can actually wreak havoc on your future. Avoid these tempting investments to protect your portfolio and retirement security.
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If you’re retiring with debt, consider taking these steps to manage your finances and payoff debt: refinance, downsize, consolidate debt into a zero-transfer credit card, delay retirement by a few years. And meet with a trusted financial advisor to develop a plan moving forward.
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A happy retirement takes work! Build a sold nest egg, take charge of your health, and develop strong social relationships to create a financially stable and emotionally rewarding retirement for decades.
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As you age, certain costs increase. Your retirement expenses should include increasing medical costs, transportation fees, housing expenses including maintenance costs, and travel and leisure activities.
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Reduce or eliminate the stress of retirement by preparing emotionally and financially for this significant life transition. Also, start planning early by creating a lasting financial plan with consistent savings and a fund for long-term health care needs.
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