Second Quarter Summary of Webinar Take-Aways

 

We are almost halfway through 2026 and it’s time for another quarterly summary of takeaways from webinars, podcasts, and classes that I have recently attended. Below are nine nuggets that stood out to me as I reviewed notes taken in my personal learning journal:

The Importance of Tax Planning- Reasons include 1. Paying taxes at lower rates because the U.S. has a progressive tax system, 2. The tax code is full of traps (e.g., marriage penalty, NIIT, IRMAA, AMT, kiddie tax, widow’s penalty), and 3. Different parts of the tax code need to be coordinated.

 

RMD Withdrawals- Reducing future RMDs can help avoid being forced into a higher tax bracket. For example, make Roth conversions in your 60s if already retired and your income is lower. Some people, however, may not be able to avoid the high tax rates associated with a large RMD.

 

IRMAA- The Income-Related Monthly Adjustment Amount, an extra surcharge added to Medicare Part B and Part D premiums for higher-income beneficiaries, is not a lifetime sentence. Every year there is a reset. Use form SSA-44 to request a smaller premium due to a life event (e.g., widowhood).

 

Investment Risk- There is no such thing as a “free lunch” in life or investing. In addition, there is no perfect investment (high return, risk-free, and tax-free). Volatility (how much the price of an investment rises and falls over time) is the “cost of admission” for investing.

 

OBBBA Tax Law- There is confusion regarding “no tax on Social Security” and the new senior tax deduction. Social Security IS still taxed and the senior tax deduction is age-based (65+) and income-based (phase-outs apply) and has nothing to do with receiving Social Security. New child savings accounts roll out in July with $1,000 of government seed money for children born from 2025-2028.

 

Financial Education Impact- The best time for financial literacy classes is 11^th grade. Students are interested in financial topics by then but don’t have distracting “senioritis.” Financial education allows students to mess up in a “fake world” (e.g., case studies) to avoid mistakes in the real world.

 

Limiting Beliefs- Far too many people quit far too soon, instead of persisting, due to self-limiting beliefs. They tell themselves they are not capable and don’t even try. The #1 determinant of whether people reach their goals is whether they quit. Break big goals into small achievable steps.

 

Retirement Risks- Key risks facing older adults are running out of money in retirement, the effects of inflation, market volatility and sequence of returns risk (retiring into a down market), longevity risk (living longer than you think), increasing health care expenses, and the cost of long-term care.

 

Late Retirement Savers- The biggest “catch-up” lever for late starters is their savings rate. It takes about 10 to 15 years of aggressive saving to catch up (to typical 40-year savers) after a late starter “wakes up.” The average age of starting to save for retirement is 32. Late start savers and FIRE (financial independence, retire early) proponents have a similar savings timeline.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

First Quarter Summary of Webinar Take-Aways

 

We are already one-quarter of the way through 2026 and it’s time for another summary of takeaways from webinars that I have recently attended. Below are nine nuggets that stood out to me as I reviewed notes taken in my personal learning journal:

Retirement Challenges- Retirement is more of an adaptive challenge than a technical one. With adaptive challenges, there is no expert to help you. Rather, it is up to retirees to look inside themselves to determine their purpose and what brings them joy.

 

Non-Financial Changes- Many retirees face the following: Loss of work identity and a sense of purpose, increase in unstructured time (about 2,500 hours per year), increased time with spouse or partner, reduced social connections outside of work, and health challenges from the aging process.

 

Retirement Resources: Eight things can help retirees thrive: 1. Spirit (meaning and purpose), 2. Physical health, 3. Heart (optimism and resilience), 4. Connection (nurturing relationships), 5. Mind (creativity and mental challenges), 6. Work (paid or volunteer) to contribute personal talents, 7. Place (having a “sense of home,” and 8. Money (managing resources to live within your means).

 

Relationships- The greatest satisfaction in life comes from relationships. Think of relationships as an investment portfolio that requires ongoing deposits and maintenance and will change over time. Time is a finite resource so ask yourself what investments you want to make in different people.

 

Sequence of Returns Risk- Losses in an investment portfolio early in retirement is a risk that cannot be diversified away from. To avoid withdrawals from equity assets during a market downturn, spend conservatively and/or meet spending needs from other sources (e.g., cash asset buffer account). Big caution: retirees’ income plan should not overly rely on market performance.

 

Financial Education- 30 states have passed laws requiring a semester-long financial education course for high school graduation. The true ROI of these courses is what students do with the knowledge they gain (e.g., early investing, less debt) and expanded horizons for their future.

 

Wealth Accumulation- Wealth is what people don’t see. Everything can be bought with borrowed money. It is not what people earn that creates wealth but how they spend it. Money is not a goal in and of itself but a tool to allow you to reach lifetime financial goals.

 

Tax Planning- A “permanent” tax law change is one that is not set to expire. Congress can always pass future tax laws. Three ways to lower modified adjusted gross income to reduce taxes are tax-deferred plan contributions, Roth conversions, and qualified charitable distributions (QCDs) after age 70 ½. Some people roll an employer account balance into a traditional IRA to make a QCD later.

 

LinkedIn Tips- LinkedIn is the #1 way that people find jobs and “put themselves out there.” Ways to stand out on LinkedIn include a professional head shot, an interesting “About” section, highlighting your skills and experience, regularly posting new content, a customized URL, endorsements, and completing as many profile sections as possible.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Crucial Steps to Take When Retiring

I recently attended a webinar about preparation for retirement. The speaker was nationally renowned retirement planning expert Dr. Wade Pfau, author of Retirement Planning Guidebook. Below are six of my key take-aways from his presentation:

Know Your Style- Your retirement income style describes your retirement income preferences. According to Dr. Pfau’s RISA® tool, Probability-Based vs. Safety-First indicates whether someone is more comfortable relying on market growth potential or on contractual guarantees (e.g., pension, annuity). Optionality vs. Commitment indicates whether someone values flexibility to adjust their plan or prefers to commit to a structured, potentially irrevocable, retirement income strategy.

 

Inventory Your Assets- To see where you stand, create a master inventory of assets and debts, including account numbers, account values, ownership details (e.g., individual or joint tenancy with right of survivorship), beneficiary designations, and probate status. Calculate net worth by subtracting the value of debts from assets and update it annually. Request in-force illustrations of the cash value of whole life insurance policies.

 

Establish Decision-Making Authority- An advance directive is a legal document outlining your healthcare wishes if you cannot speak for yourself. A living Will is a written statement detailing which medical treatments you consent to or refuse (such as ventilation, artificial nutrition, or CPR) in end-of-life scenarios. A financial durable power of attorney is a legal document that allows you to appoint a trusted person or organization to manage your financial affairs.

 

Create an Estate Plan- Write and periodically review and/or update a will that designates to whom your assets will go. Be sure that there are no conflicts between provisions in your will and asset ownership titles, which have priority. The four essential estate planning documents are generally considered to be a last will and testament (will), a durable power of attorney (for finances), a healthcare power of attorney (or proxy), and a living will. Some people also use trusts.

 

Study Social Security Claiming Options- Higher earners in a couple may consider delaying Social Security benefits up to age 70 for a higher future benefit for both themselves and their lower-earning spouse (survivor benefits). Delayed retirement credits of 8% a year are available between full retirement age and age 70. It is smart to verify your Social Security covered earnings annually by setting up an account at https://www.ssa.gov/myaccount/.

 

Plan Ahead for Spending Shocks- Some of the most common spending shocks that older adults face are sequence of returns risk, inflation, long-term care expenses, death of a spouse, family responsibilities, frailty in later life, cognitive decline, and forced early retirement. About half of retirees do not pick their retirement date- it is forced upon them.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

The webinar ended by describing 4 Ls of retirement: Longevity, Lifestyle, Legacy, and Liquidity.

Take-Aways from a Panel Discussion About Retirement

 

I recently attended a webinar about retirement planning that featured a panel of four retired Cooperative Extension educators who did the same type of community education work that I did when I worked for Rutgers Cooperative Extension in New Jersey.

 

Below are my key take-aways:

 

Retire to Something- Everyone on the panel concurred that it is wise to have a post-career plan before you retire, especially after an impactful and time-intensive career. Whether it is working part time, volunteering, starting a business, traveling, or care-giving, the choice is up to you.

 

Schedule “Me Time”- It is easy to get sucked into too many commitments after leaving a full-time job. Everyone just assumes that “you have the time.” It is important to schedule time for yourself and protect your schedule.

 

Do Retirement Savings Calculations- Several panelists noted that they could have retired sooner than they actually did and advised the audience to put some effort into calculating what you need to save during your working years to have “enough” in later life.

 

Prepare for an Orderly Exit- Clean out paper work files and decide what needs to stay at your workplace or what can be copied or scanned for personal use later. This is especially true if you plan to leverage your skills through a post-retirement encore career or entrepreneurship.

 

Buy a Personal Computer- Several panelists had previously only used a computer that belonged to their employer. They spoke about the importance of buying your own laptop or desktop to transfer important files to. Another way to do transfer files is using an external hard drive.

 

Consider Entrepreneurship- Several panelists started post-retirement businesses for meaning and purpose and structure to their day as well as income. Some also were not covered by Social Security during their primary career and started a business to earn Social Security quarters of coverage or to increase their benefits by replacing “0” or low-earning years with higher earnings.

 

Help Your Successors- Not everyone on the panel had a named replacement for their position when they retired. A few did. Either way, panelists recommended leaving an “orientation” letter and a jump drive with important files for their successor.

 

Use Your Leave Time- Take all your vacation days and a sabbatical, if possible, while you are working. Long stretches of time off will prepare you to be away from the office and test family relationships with an extended period of closeness.

 

Don’t Worry About Being Replaced- Every panelist recommended retiring when the time is right for you. Your employer will continue your work responsibilities…or not. That is not your problem. Don’t work longer than you want just to “save” your program or department.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Take-Aways from a Retirement 101 Webinar

I recently attended a Retirement 101 webinar sponsored by the New York Public Library called Retirement Planning 101: Strategies to Maximize Your Life in Retirement. The webinar included content about retirement planning, investments, building wealth, retirement income streams (e.g., Social Security, pension, investment withdrawals), health care costs, and long-term care.

Below are eight of my key take-aways:

Meanings of Retirement- Everyone has their own personal definition but some common themes related to a “good retirement” are financial freedom (not relying on employment income), lifestyle choices (freedom to do what you want), security and independence (adequate resources to handle life events), and legacy (opportunity to leave behind support for heirs and charities).

Benefits of Early Saving- Compound interest and time are your greatest allies. Starting even a small retirement account in your 20s or 30s dramatically increases your savings nest egg and  reduces the amount needed to save in later life. An investment of $250 per month earning a 7% annual return starting at ages 25 and 35 would be worth $656,000 and $304,000, respectively.

Overcoming Barriers- Some people say, “I don’t earn enough to save.” The solution is to start small. Even modest savings can grow significantly over time. Other people say, “I have to pay off debt first.” The solution is to balance debt repayment with retirement savings, especially if an employer matches retirement plan contributions.

Investment Vehicles- There are several places where people can save for retirement including employer-sponsored plans (e.g., 401(k), 403(b), TSP), individual retirement accounts (IRAs), and personal investment (i.e., brokerage) accounts. Advantages include potential employer matches (employer accounts), tax benefits, and long-term growth.

Reinvested Investment Earnings- When you reinvest dividends and capital gains earned on investments (e.g., stock mutual funds), you generate returns on those returns via compounding. Over time, compounding can significantly boost the overall return on an investor’s portfolio.

Retirement Income Sources- Defined benefit plans (pensions), which are less common than decades ago, pay a specific monthly benefit for life determined by a formula based on salary and years of service. Defined contribution plans (e.g., 401(k)s) allow workers to voluntarily contribute a set percentage of income to a personal retirement savings account that must be managed when they retire. Some workers convert their accumulated balance into an annuity at retirement.

Investment Withdrawal Methods- Common methods to withdraw retirement savings to avoid running out of money include the 4% Rule, a bucket strategy (assets segmented into “buckets” (groups) for short-term, mid-term, and long-term goals), and using required minimum distributions (RMDs) as a withdrawal strategy after age 73 or 75 (depending on year of birth).

Long-Term Care (LTC) Planning- LTC is the need for help with activities of daily living (e.g., eating, bathing, and dressing). Costs vary by state and level of care (e.g., assisted living, nursing home). Options to cover LTC expenses include LTC insurance, hybrid LTC insurance (life insurance with a LTC rider), self-funding, and Medicaid, if applicable.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

Ingredients for a Fulfilling Retirement

I recently attended a webinar titled Creating a Fulfilling Retirement presented by Fidelity Investments. Below are eight of my key take-aways: 

 

Three Happiness Components- The speaker noted that money (income and wealth) is only one part of the retirement happiness equation. While happiness improves with higher earnings, especially guaranteed income like a pension or annuity, two other key factors are relationships (interestingly, a spouse and friends but not children, according to one study) and health.

 

Happiness Investments- All three retirement happiness factors (money, relationships, and time) are “investments” that require regular time allocations. For example, time for exercise and eat well and to build and maintain relationships. The greatest wealth is good health.

 

Retirement Pursuits- When people are working, their weekend activities are a getaway. In retirement, when “every day is Saturday,” they need to think about how they will fill their days. Otherwise, they can become bored, depressed, and/or isolated. A common retirement task is finding balance among different activities.

 

Spending Money- Retirement spending can be very successful if it provides an entry into socialization activities. An example of so-called “social spending” is purchasing a classic car to be able to participate in car shows and informal get togethers of car enthusiasts.

 

Congregate Living- There are different stages of aging and different mindsets associated with each one. For example, people who reach their 80s are often happier to live in shared housing arrangements for less isolation, less maintenance, and more well-being checks vs. “young old” retirees in their 60s and 70s who still prefer to live in single-family homes.

 

Long-Term Care (LTC) Need- The need for LTC is not determined by age but by life events and an inability to perform activities of daily living (ADLs). Not everybody needs LTC insurance, but everyone needs a LTC plan, including a liquidation plan to sell assets to free up money for LTC.

 

Common Errors of Retirees- Two common errors that were mentioned were underestimating health care costs (estimated to be $165,000 for 65 year olds for the remainder of their lives, excluding LTC) and underestimating irregular expenses for things like car repairs and dental bills.

 

Guaranteed Income Sources- Retirees with a “retirement paycheck” of regular monthly income from Social Security, annuities, and/or pensions that pays all of their living expenses are generally happier- and spend more money in retirement- that those who have to withdraw money from invested assets (e.g., a 401(k) plan) and worry how long their money will last.

At the end of the webinar, attendees were encouraged to "make retirement the best chapter of your life." For many people, the last third of their life is their happiest.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

Financial Planning Tips for Solo Agers

 I recently taught a new class called Financial Planning for Solo Agers. It was requested by several of my older adult students.

Below are eight key take-aways for people who are aging alone without a spouse, significant other, or children to help them navigate later life challenges:

Solo Ager Statistics- An estimated 28% of older adults are currently solo agers and the percentage increases annually. The percentage is even higher when factoring in people with adult children who are unwilling or unable to provide needed parental care.

 

Four Stages of Solo Aging- The stages are 1. Independence (generally self-sufficient), 2. Interdependence (in need of help with basic tasks), 3. Dependence (in dire need of help from others for activities of daily living), and 4. Crisis Management (dependent on health professionals and medical facilities). Not every solo ager goes through every stage.

 

Big Solo Ager Challenge- Finding or naming someone who can be available at a moment’s notice to provide care or manage your financial affairs or health care decisions is hard when none of your options are family members.

 

Healthy Habits- The goal is to stave off or at least postpone chronic diseases like cancer or diabetes. Think: nutritious food, no smoking, physical activity, regular screening exams, adequate sleep, vaccinations when needed, and no or limited alcohol use.

 

Technology Resources- Tech tools that can help solo agers stay connected to people who can help them in an emergency situation include wellness check-in services (solo agers check in daily or call check services contact them) and emergency alert devices.

 

Hired Services- Professionals and service providers that may be needed at some point include bonded daily money managers, geriatric care managers, taxis, Lyft, and Uber for rides, professional personal representatives and trustees (e.g., a bank trust department or an attorney), and patient advocates who help people navigate health care systems.

 

Housing Arrangements- If someone is “aging in place,” their existing home should be modified for safety (e.g., grab bars and no step entry). Many experts recommend that solo agers consider congregate living settings to build in socialization opportunities and well-being checks. Examples include assisted living facilities and continuing care retirement communities (CCRCs).

Trusted Proxies- It is very important for solo agers to prepare a will, living will, and durable power of attorney (POA) and to designate a health care proxy (as part of a living will) and POA agent to act on their behalf, if incapacitated. It is also wise to add trusted contact information to financial accounts. Account custodians will often ask for this.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Takeaways From a Conference About Retirement Savings

I recently attended (virtually) a conference about retirement savings sponsored by the Employee Benefit Research Institute (EBRI). Below are some of my key take-aways:

Funded Contentment- I ever heard that phrase before. It means a person’s ability to underwrite a happy and meaningful life. The focus is on having enough money instead of reaching a specific number (i.e., dollar amount of retirement savings). Instead of a “greed is good and more is better” mentality, many retirees want to focus on meaning and purpose in later life.

Narrative Species- One speaker noted that humans are not a “numeracy species” focused on math and numbers but, rather, a narrative species. In other words, people learn best about personal finance (and other topics) through stories and case study examples.

Automatic Non-Decisions- An easy way for people to save money for retirement is to “turn decisions into non-decisions.” In other words, take action once to automate financial transactions such as payroll deductions for a 401(k) or regular automatic deposits to buy stock or mutual funds.

The Impact of Vividness- When people’s “future self” is made vivid through aging apps and other tools, they are more likely to make decisions and sacrifices today to have a better future in later life. For example, they might save and invest more money and eat more healthy food.

RMDs as an Income Withdrawal Strategy- Findings from a study of the effects of increasing required minimum distribution (RMD) age from 70.5 to 72 to 73 were reported using data from a sample of over 3 million IRA owners. The study found that not a lot of people take RMDs until they are required to do so. As the RMD age got pushed back, so did the frequency of people taking later distributions. In other words, changes in RMD age as a result of the two SECURE acts affected investor behavior because many retirees use RMD rules as a default income withdrawal strategy.

Retiree Financial Challenges- Retirees with significant sums in tax-deferred accounts are facing challenges from RMDs, which can trigger tax on Social Security, higher income taxes in general, and higher Medicare premiums call IRMAA. Even still, people have an aversion to withdrawing money from tax-deferred accounts earlier than RMD age.

The Impact of Guaranteed Income- Older adults with guaranteed lifetime income (e.g., pension or annuity) are more likely to spend money and less likely to feel financial stress than those who withdraw money from investments to pay living expenses. The latter group is subject to longevity risk (risk of outliving savings) and sequence of returns risk (risk of withdrawing funds during a market downturn) and tend to hold back on spending. The #1 fear of retirees is running out of money.

Cultural Norms- In some cultures, family members serve as a de facto “emergency fund” for each other. This expectation can hinder the financial progress of those who save. Some people may want to have a place for their money that relatives don’t know about because it is hard to say no to family members. 

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Financial Transitions in Later Life

 I recently presented a webinar for financial practitioners called Important Financial Transitions in Later Life. Based on content of my book, Flipping a Switch, “flipped switches” are a metaphor for later life transitions. Below is a brief summary of 11 financial transitions:

Spending Down Retirement Savings- It can be difficult psychologically for “super savers” to spend down accumulated wealth because it feels like a loss. Two good questions to ask yourself are “If you don’t spend your money, who will?” and “What are you waiting for?”

 

Deciding When You Have “Enough”- A good way to determine whether you have saved enough money is to try at least three retirement savings calculators and compare the results.

 

Creating a Retirement “Paycheck”- To create a regular stream of income, options include bond or CD ladders, low-expense annuities, and personalized modifications of the “4% Rule.”

 

Required Minimum Distributions- This is a mandatory “flipped switch.” Make a plan for the use of money that is withdrawn. It can be spent (for living expenses or fun), gifted, or resaved.

 

Later Life Investing- Investors generally get more conservative as they age and guidelines like 100 (or 110,120) minus age are a useful start. Asset classes should be rebalanced regularly.

 

Adjusting to Changed Income- Income changes vs. working years. To adjust to living on less, people can work longer, spend less, move to a less costly home or area, and/or tap home equity.

 

Changed Tax Withholding- Many older adults have multiple streams of income and must make sure that tax withholding/estimated payments are adequate to avoid underwithholding.

 

Becoming a Social Security Beneficiary- Key factors are full retirement age, the annual earnings limit, benefit planning for couples, and a possible higher benefit if you keep working.

 

Health Care Transitions- Older adults have more time for exercise and healthy eating and should earmark a portion of their household budget for out-of-pocket health care expenses.

 

Transitioning to Medicare- A good resource to “get up to speed” is the annually updated Medicare and You handbook. Higher-income beneficiaries need to understand IRMAA, which is the higher monthly Medicare premium that they must pay. There are five tiers of IRMAA.

 

Setting New Financial Goals- Once people get “to retirement,” subsequent financial goals are “through retirement.” Like all SMART goals, they need a projected cost and time deadline.

 

More information about financial transitions in later life can be found in Part 1 of my book.

 

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

 

Reinventing Retirement: Customizing Your Third Third

 

People’s lives can grouped into three basic chapters: youth/education, career, and post-career (a.k.a., retirement). In the first chapter, our lives are controlled by parents and teachers and, in the second, people have career and/or family responsibilities. 

It is not until the third chapter that many people have the ability to decide what they want to do and who they want to be.

 

People spend about 30% of their adult lives in retirement. I recently attended a presentation called Reinventing Retirement and below are seven take-aways about this final phase of life:

 

Freedom and Flexibility- Later life provides a long-awaited opportunity to “customize” your lifestyle. Of course, people have different tastes, interests, and personal situations that influence what they expect but, for most older adults, it’s about having more time, freedom, and flexibility than before. The question then becomes what to do with that time and freedom.

 

Retirement’s Many Faces- Lifestyles in retirement include completely stopping work, pursuing a new line of work or starting a business, more actively volunteering, spending more time traveling, pursuing hobbies and interests, caring for loved ones, and more. A phrase used several times during the class was “If I’m not dead, I’m not finished.”

 

Current Retirement Trends- Baby Boomers have more discretionary income than previous generations of retirees. They are redefining the meaning of retirement in many ways including retiring later, continuing to work, and unretiring; finding new ways to make and maintain social connections; increased focus on health and fitness; and pursuing lifelong learning.

 

Retiring “To” Rather Than “From”- It can be stressful to leave the working world, particularly for people whose identity was wrapped up in their job. It is, therefore, essential to plan your next move. Without having something to retire to, people can feel a loss of importance and daily time structure and miss work-related interactions and friendships.

 

Ageism and Discrimination- Just because many older adults want to work does not mean they can easily find a job. Ageism and age discrimination in the workplace are commonplace and an AARP survey found that two-thirds of older adults have seen or experienced it. Increasingly, older adults are getting around that problem by working for themselves or buying franchises.

 

The Social Side- Many of today’s retirees do not live in close geographic proximity to family. Instead, they create a sense of family with people who are not necessarily blood relatives. A growing trend among people who choose to relocate is recruiting friends to become neighbors.

 

Life-Long Learning- Intellectual stimulation isn’t just for the young. Continuous learning is an important investment in brain health and a key anti-aging strategy. It can also help older adults discover and develop new talents. There are always new things to learn and try. One recommendation given at the class was to set a goal to try something new every month.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.