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Jun 28, 2022 · Learn from retirees' insights on saving, investing, and inflation in a new survey by EBRI. Find out how to improve your retirement plan and avoid common financial regrets.
- Start saving ASAP ... Jackie, 70, is a former teacher and bank teller, and her husband, Carl, 72, had a career in management with an auto company. Jackie says she and her husband started thinking about retirement as soon as they graduated college together.
- but don’t retire ASAP. Jackie says she retired from teaching in 2004, when she was only 54. However, after just a year of being retired, she went back to work part time as a bank teller.
- Invest in your health—not just your retirement fund. Bob, 70, a former production worker, and Linda, 69, a former office assistant, live modestly but comfortably in a small midwestern town.
- Structure your savings. While retirement was always in the back of Bob’s mind, he says he wishes he was a more structured saver during his earning years.
- Understand Sequence of Returns Risk. Sequence of returns risk is a fancy term that financial advisors have been throwing around for years—well since 1994, thanks to a seminal paper by William Bengen.
- Lose Your Fear of Inflation. Nothing strikes as much fear into the hearts of retirees as inflation, and for good reason. The best-laid retirement plans can be wrecked by the rapid decline in value of the dollars you’ve socked away in your golden years.
- Delay Starting Social Security. Any discussion of the two items above should also involve a careful look at your plans for Social Security. “Social Security is guaranteed income that is adjusted for inflation, which makes it incredibly valuable,” says Liz Weston, a certified financial planner and author of “The 10 Commandments of Money.”
- Rethink Where You Want to Live. Housing costs are undergoing massive changes. With mortgage rates soaring, prices in many once-hot housing markets are dropping.
May 17, 2024 · Home. retirement. happy retirement. Features. How to Have a Happy Retirement. These eight tips for a happy retirement are backed by solid evidence. <?xml version="1.0" encoding="utf-8"?>...
- Jacob Schroeder
- Be a saver, not a spender. It’s much easier to spend money than to save it, but the gratification you’ll enjoy in retirement by having enough of it is a strong argument to save plenty through your working years.
- Have a bunch of interests. Sitting on the couch watching reruns of Fantasy Island will not likely result in a fantasy retirement. The happiest retirees know very well how to travel, play and explore, and they wholeheartedly engage in three or more hobbies on a regular basis, says Moss.
- Establish satisfying daily routines. Few things are more important to a happy retirement than creating daily routines — and ultimately sticking with them, says Nancy Schlossberg, professor emerita from the department of counseling and personnel services at the College of Education at the University of Maryland, and author of several books on retirement, including Retire Smart, Retire Happy: Finding Your True Path in Life.
- Keep close to your kids — but not too close. The happiness level of most retirees skyrockets when they live near at least one — and preferably two — adult children, says Moss.
Jun 26, 2022 · Learn from retirees' financial lessons and worries in a new survey by EBRI. Find out how to save and invest more, set financial goals, and plan for inflation to improve your retirement plan.
Jan 2, 2024 · Retirement planning has five steps: knowing when to start, calculating how much money you'll need, setting priorities, choosing accounts and choosing investments. Generally, financial advisors...
