Blog Posts

By Marc C. Shaffer

The idea of retirement and the reality of retirement can often be drastically different. For many people, retirement is the idea that at a certain age you will leave your career and enter into a life of leisure. Be it golfing, visiting sunny locations or spending time with grandchildren, retirement has been painted as the final phase of life where you haven’t a care in the world. Every day I talk with people who are retired or planning their retirement, and let me tell you, it’s time we start thinking differently about retirement. The 17th Annual Transamerica Retirement Survey showed that a majority of workers dream about traveling, spending more time with family, and pursuing hobbies, and 28 percent dream of doing some form of work in retirement. What does retirement mean to you? Does waiting until normal retirement age to pursue your dreams make sense to you, or would you like to consider an “alternative” retirement? The “what you want to do” and “how much you’re going to need” may look a lot different than you’re prepared for, so considering which type of retirement is right for you and the financial considerations to get you there are key. Let’s look at 5 types of retirement styles I talk about frequently:

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Should Retirees Be Worried?

Market volatility is an historic inevitability; as a long-term investor, you are likely to experience years of volatile or negative portfolio growth. If volatility coincides with your retirement, you might be worried about how it may affect your savings and income.

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The answer isn’t simple.

It’s a question as old as retirement itself: Now that the children are gone, should you downsize your home?

Maybe move to your favorite vacation spot to enjoy the sunshine and natural beauty? Or should you stay put, relaxing in familiar surroundings and a community you know well? Today’s retirees enjoy more freedom than ever to choose where and how they live. Many retirees choose to downsize to reduce housing costs or move to be closer to family. As with most important personal and financial decisions, there are pros and cons to downsizing your home that you should consider.

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By Michael J. Searcy

Most everyone realizes that there will come a day that they can no longer generate income for living expenses from employment. For some, it’s a welcome event. For others, it’s a curse. Now, assuming you are in the “welcome event” category and want to quit working for a living someday, here are some items to consider in your planning:

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By Michael J. Searcy

Have you heard of loss aversion? In economics and decision theory, “loss aversion refers to people's tendency to strongly prefer avoiding losses to acquiring gains.”

Loss aversion may help explain why people are not saving enough for retirement – they may avoid saving today because it feels like they’re losing the ability to use that money for things they want now and don’t recognize the delayed gratification of using that money for a comfortable retirement in the future.

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