This past week, I attended a presentation (via webinar) featuring a prominent retirement researcher, Michael Finke. I made notes on the items I found interesting and want to share them with you. Here they are in no particular order: The single most important factor influencing happiness and well-being in retirement is… Creating and maintaining friendships. …View Article
Category: Retirement Planning
Retirement Planning
Reinventing Yourself in Retirement: Rich Rajacich
I wanted to call this post “A Star Is Born,” but I figured that title was pretty much taken. Nevertheless, this story of my friend, and Surevest Client, Rich Rajacich should be an inspiration to anyone who is looking to reinvent themselves. In 2004, Rich was at the peak of his career as an endodontist. ...View Article
Retirement Planning: FAQs
Prior to the Covid-19 pandemic, approximately 40% of the retirees stopped working sooner than planned as a result of medical issues, the need to take care of a loved one, or corporate downsizing. That number of may be about to skyrocket as workers find they do not have a job to go back to or …View Article
RMDs: Reduced Beginning in 2021
On Nov 7, 2019, the IRS proposed updates to the life expectancy tables used to calculate Required Minimum Distributions (RMDs). The new changes still need to go through a formal approval process and are not scheduled to be implemented until the 2021 tax year. However, the changes are not controversial and are expected to be …View Article
Healthcare Costs in Retirement
I can’t think of any expenditure that gives retirees less enjoyment than medical costs. Nevertheless, healthcare is an important spending category among retirees. Many pre-retirees are not sure how their medical costs will change once they are eligible for Medicare at age 65. Today’s article will provide an overview and some estimates for your retirement …View Article
Sequence of Return Risk
Most analytical people love spreadsheets…myself included. Personally, I would put Microsoft Excel on my list of top 10 inventions of all time. However, spreadsheets are dangerously inadequate when it comes to creating a financial plan. The problem with this type of “traditional” planning is it assumes that annual investment returns are a constant number, such …View Article
Finding Ideal Retirement Jobs
Last week, I wrote about retirees’ attitudes toward working in retirement and starting “encore” careers. The bottom line was they really enjoyed continuing to work in some capacity, according to a survey of 7,000 such retirees. Furthermore, money was not the main motivator. So, the next question is how do you find ideal retirement jobs? …View Article
Retirement Jobs: Do you want to keep working?
I’m not trying to convince retirees to go back to work. In fact, I love telling clients that they can retire and direct their energy toward leisure and their bucket list. That being said, it turns out that many retirees love working in retirement. Approximately 1/3 of the Uber and Lyft drivers I’ve had the …View Article
Retirement Spending – How Will Your Spending Change?
Numerous articles make the case that the average American is not saving enough for retirement and may be underestimating their future retirement spending. Wouldn’t it be great to find that the opposite was true? Don’t get me wrong. The more you save, the better. A big nest egg is likely to make you feel happy …View Article
Planned vs. Actual Retirement Age
One of the questions on every pre-retiree’s mind is: “When should I (or can I) retire?” The average reported retirement age for Americans who are already retired is 61. This is lower than the age at which people are retiring today. A recent poll from the U.S. Census Bureau shows that the average age of …View Article