Wednesday, 2 March 2016

Practical Investing Post-retirement

When planning one’s retirement, there are four things to consider: finances, health, relationships, and passion for life. The retirement plan hinges on these four factors.

First, let’s take a look at finances. Has the retiree saved enough? How healthy is the nest egg? Is the bank account fat enough to support factors two and four (health and passion for life)? If the answer to that last question was yes, then how long can it support those two factors? If the answer was no, then are there safe options to invest in? Perhaps, trade in a small condo unit for the house? Are there any other assets that the retiree won’t need in the next twenty to thirty years? Those are all good investments that can be sold to beef up the nest egg.

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Second is health. Once a woman hits the age of 65, her chances of reaching ninety are a little over 50 percent. For men, it’s a little over forty percent. Those are amazing odds. But also, as one ages, more health problems and complications come into play. Practical investing at this point would involve healthcare and insurance plans.

Practical investing when it comes to one’s family and friends means having to leave something behind for everyone. Hiring an estate and retirement specialist at this juncture would be a good investment.
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Finally, passion for life. Does the retiree love to travel? Does the retiree love to play golf? What are the things the retiree has his or her heart been set on doing? How much will they cost? Are there more affordable ways to experience all these things?

Linda O. Foster from Poulsbo, WA, is an estate and retirement specialist whose area of expertise also includes federal employee benefits. She also looks for ways to offer retirees tax-advantaged low-cost investment options. To learn more about investing post-retirement, read this blog.

3 comments:

  1. This is something to ponder. Made me think of what my life would be when I grow older.

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  2. "What are the things the retiree has his or her heart been set on doing?" Maybe I would love to go to movie theaters everyday when I retire. LOL!

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  3. Autopilot is not an option when it comes to post-retirement financial planning.

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