Page 8 - Southern Exposure - October '20

Page 8, Southern Exposure BW

FInanCIal FoCuS

How Can You Prepare For The ‘New Retirement’?

By Sally Sima Stahl

A generation or so ago, ways – actually improves, according to a well-known study healthcare and long-term care costs will be in retirement.
people didn’t just retire from from the University of California, among others. However, So, if you’re getting close to retirement, and you’re
work – many of them also not surprisingly, retirees fear Alzheimer’s and other types of considering these factors, how can you best integrate them
withdrew from a whole range dementia more than any physical ailment, including cancer or into a fulfilling, meaningful way of life? You’ll want to take
of social and communal infectious diseases, according to the “Four Pillars” study. a “holistic” approach by asking yourself some key questions:
activities. But now, it’s • Family – Retirees get their greatest emotional What do you want to be able to do with your time and money?
different: The large Baby nourishment from family relationships – and they’ll do Are you building the resources necessary to enjoy the lifestyle
Boom cohort, and no doubt anything it takes to help support those family members, you’ve envisioned? Are you prepared for the increasing costs
future ones, are insisting even if it means sacrificing their own financial security. of health care as you age? Have you taken the steps to maintain
on an active lifestyle and Conversely, retirees lacking close connections with family your financial independence, and avoid burdening your family,
continued involvement in their and friends are at risk for all the negative consequences in case you need some type of long-term care? Have you created
communities and world. So, resulting from physical and social isolation. the estate plans necessary to leave the type of legacy you desire?
what should you know about this “new retirement”? And how • Purpose – Nearly 90 percent of Americans feel that By addressing these and other issues, possibly with the help
can you prepare for it? there should be more ways for retirees to use their talents and of a financial professional, you can set yourself on the path
For starters, consider what it means to be a retiree today. knowledge for the benefit of their communities and society at toward the type of retirement that’s not really a retirement at
The 2020 Edward Jones/Age Wave Four Pillars of the New large. Retirees want to spend their time in useful, rewarding all – but rather a new, invigorating chapter of your life.
Retirement study has identified these four interrelated, key ways – and they’re well capable of doing so, given their decades This article was written by Edward Jones for use by
ingredients, along with the connected statistics, for living of life experience. Retirees with a strong sense of purpose have your local Edward Jones Financial Advisor. Edward Jones.
well in the new retirement: happier, healthier lives and report a higher quality of life. Member SIPC.
• Health – While physical health may decline with age, • Finances – Retirees are less interested in accumulating Edward Jones, its employees and financial advisors are not
emotional intelligence – the ability to use emotions in positive more wealth than they are in having sufficient resources to estate planners and cannot provide tax or legal advice. You
achieve the freedom to live their lives as they choose. Yet, should consult your estate-planning attorney or qualified tax
retirees frequently find that managing money in retirement advisor regarding your situation.
HANDY-MAN can be even more challenging than saving for it. And the Call me for a free portfolio review at (561) 748-7600,
“unknowns” can be scary: Almost 70 percent of those who plan
Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste. 106,
Jupiter, FL 33458.
to retire in the next 10 years say they have no idea what their
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