Like a Kid's Puzzle Game, Your Health, Wealth and Well-being
We help folks enter retirement every day, and that gives us special insight into the joys and challenges of this incredible experience!
That doesn't mean we've got the puzzle solved. It just means we know a lot of methods. Like a Rubik's Cube, solving for retirement has more than one route. Unlike that children's puzzle, we do not know exactly what your solution looks like when we start. You are unique, and are "uniquely unique" in the history of mankind. Never before have we had so many possible combinations of retirement success as we do today!
As we enter retirement, there are quantifiable skills and there are life skills that determine our health, wealth and well-being. Many of the same skills we learned early in life, and taught our children, are important to us as adults.
Quantifiable skills are common sense, but that doesn't mean they are easy. Retirement requires learning to live within a budget, usually a little more tight, than during our working years. Many of us have to invest for income and also account for withdrawal rates. We have to weather the storms of stock market volatility with some, if not a large portion, of our investments. Understanding these skills on paper and in person are two completely different challenges.
As we age, we have to account for time. Sometimes, when we retire from our jobs, we feel a little lost. We might pay more attention to politics. We may become more passionate about a topic, a person, or a cause. We have time for hobbies, volunteering and other pursuits. We each are given the same number of hours in a day, but how we fill this time can be a difficult set of choices, even when they are all good! Like a kid beginning summer break--we feel the pressure to enjoy every minute. We know it won't last forever!
Recent research shows us that life skills we learned early in life, like persistence, conscientiousness, and control are extremely important to our health, wealth and well being in retirement. In fact, "higher scores on five life skills (conscientiousness, emotional stability, determination, control, and optimism) were associated both cross-sectionally and longitudinally with economic success, social and subjective well being, and better health in older adults."
If you're interested in these skills, plus a moderate dose of retirement income math, consider attending our upcoming Lunch & Learn event on Thursday, June 8 2017. It's sure to sell out. And read some of this research here, from the source: "Life skills, wealth, health, and wellbeing in later life" by Andrew Steptoea and Jane Wardlea.