Latest News / Retirement in Sight - December
Retirement in Sight - December
December 15, 2016
Teamwork Counts for Couples Close to Retirement.
Talking about a few lifestyle and financial matters in the years immediately before your retirement transition may help you and your spouse find more happiness in your “second act.”
How close are you to receiving Medicare? Should one or both of you strive to work until age 65? HealthPocket (a tech firm that evaluates health plans) estimates that the average non-smoking, 60-year-old couple would pay nearly $18,000 for a silver plan at one of the health care exchanges (assuming no subsidies). Can you delay filing for Social Security, and time your claims to position yourselves for greater lifetime benefits? If either of you are in line for a pension from your employer, this is the time to weigh the merits of a lump-sum payout that could be invested versus a lifelong income stream.
Are you both going to retire at roughly the same time, or years apart? Have someone run the numbers to show you how those different scenarios might unfold for you in terms of retirement income and retirement spending. Finally, talk to each other about your typical day in retirement – how you want to spend your time, and what you want to spend the most time doing.1
Fitness Centers Are Restyling Their Offerings for Boomers & Seniors.
Does an 8:00am, high-intensity, aerobic workout seem a little too extreme these days? If it does, take heart – gyms and health clubs are altering their classes to suit a maturing clientele.
Low-impact yoga, aerial yoga, tai chi, and Zumba are increasingly on the menu, plus dance and aquacize classes. Strength training is popular: personally tailored workouts of less than an hour make sense for many retirees, built around exercises to condition muscles, bones, ligaments, and tendons. Another oncoming trend appears to be senior discounts – deep discounts on classes or memberships, sometimes greater than 50%. If you want to stay fit through these classes and other options, talk to your doctor before embarking on an exercise program and find one that fits your style and schedule. It may save you money; it may even save your life.2,3
On the BRIGHT SIDE
According to a study published in JAMA Internal Medicine in November, the rate of dementia in Americans aged 65 and older dipped from 11.6% in 2000 to 8.8% in 2012.4
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.
1 - time.com/money/4570200/couples-near-retirement-plan/ [11/16/16]
2 - philly.com/philly/business/Senior-fitness-classes-mean-big-business.html [12/4/16]
3 - reviewjournal.com/life/fitness-remains-key-part-baby-boomers-routine [6/15/16]
4 - nytimes.com/2016/11/21/health/dementia-rates-united-states.html [11/21/16]
5 - todayifoundout.com/index.php/2013/08/7-up-used-to-include-psychiatric-medication/ [8/21/13]
Securities and insurance products are offered by Cetera Investment Services LLC, member FINRA/SIPC. Advisory services are offered by Cetera Investment Advisers LLC. Neither firm is affiliated with Centier Bank where investment services are offered. Advisory services may only be offered by Investment Adviser Representatives.
Securities and insurance products offered by Cetera Investment Services are: *Not FDIC insured * May go down in value * Not financial institution guaranteed * Not insured by any federal government agency * Not deposit products.
Investment Executives are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.