Category Archives: Retirement

Healthy Aging: “Happiness Across The Life Span” By Susan Bell (USC Dornsife)

From a USC Dornsife Magazine article by Susan Bell:

Not a Slippery Slope after all

Happiness Across The Life Span Illustrations Nicole Xu for USC Dornsife MagazineContrary to popular opinion, when it comes to well-being, our lives do not represent an inevitable decline from the sunny uplands of youth to the valley of death. Instead, the opposite is true — we can confidently look forward to old age as the happiest time of our lives.

More than 50 years have passed since The Who’s Pete Townshend penned these immortal lines on his 20th birthday, resulting in the band’s iconic ode to rebellious youth, “My Generation.” These days there is no hint that the rock star, now a spritely septuagenarian, is entertaining any regrets that his youthful wish didn’t come true.

USC Dornsife Magazine Fall 2019So why do people grow happier as they age? Is it an absence of stress, or are they able to focus more on what brings them joy?

But as a young man, Townshend certainly wasn’t alone in dreading old age, and while his suggested remedy for avoiding the unavoidable may have been extreme, he also wasn’t alone in wanting to dodge what we tend to believe will be the miseries of aging.

To read more: https://dornsife.usc.edu/news/stories/3117/happiness-across-the-life-span-not-a-slippery-slope-after-all/

Retirement Life: Former Canadian Hockey Player Chooses To Travel In His “Living Vehicle” (Video)

Justin Kelly Hockey PlayerProfessional Canadian athlete Justin Kelly celebrates retirement by hitting the road on his motorcycle and enjoying the waves in Malibu. Share in Justin’s vision for sustaining his love for travel after retiring his #27 jersey and  completing a remarkable ice hockey career.

https://www.justinkelly27.com/

 

Website: https://www.livingvehicle.com/

Retirement Planning: Nobel Prize Economist William Sharpe Offers Free E-Book For Retirees

Feom a Barron’s online interview article:

William Sharpe Nobel Prize Winning EconomistRight now, you tend to have investment advisors for retirees, and insurance advisors or salespersons for retirees, and it’s fairly rare to go to somebody who can sell you annuities or invest your money and has no financial incentive to tilt one way or the other. Ultimately, what I’d like to see are people who have knowledge of both annuities and investments, and who are compensated in a way that doesn’t influence the decision.

The idea is that you segment your money. It’s similar to using “buckets” but with a time component. A retiree might have a box for 2020 and a box for 2021, and 2022, etc.

Retirement Income Analysis by William SharpeNobel Prize–winning economist William Sharpe has spent most of his career thinking about risk. He’s behind the Capital Asset Pricing Model for gauging systemic risk and the eponymous Sharpe ratio, which captures risk-adjusted return.

A few decades ago, Sharpe turned his attention to what may be the biggest risk of all for most Americans—running out of money in retirement. The professor of finance, emeritus, at Stanford University’s Graduate School of Business created a computer program that eventually covered 100,000 retirement-income scenarios based on different combinations of life spans and investment returns for a retired couple. Sharpe has made this program available in a free ebook, Retirement Income Scenario Matrices.

To read more: https://www.barrons.com/articles/william-sharpe-how-to-secure-lasting-retirement-income-51573837934

Retirement: Older Adults Upgrade Their Skills To Become Entrepreneurs (PBS Newshour Podcast)

Seniors are EntrepreneursEntrepreneurs are often imagined as twenty-something recent college dropouts. But in fact, people ages 45 to 64 start businesses at higher rates than do their younger peers — and plenty of seniors are in startup mode, too. Economics correspondent Paul Solman visits a New York City center that helps older adults upgrade their technology skills and realize their entrepreneurial dreams.

Elderly Housing Trends: “Almshouse” Movement In UK Urges “Sheltered, Independent Housing”

From a The Guardian online article:

Ken Worpole AlmshouseA new almshouse  movement, advocated by some experts, builds on a way of living dating back to the 10th century. Almshouses provide sheltered but independent housing, often around a central courtyard, at affordable rents. Many offer social activities, on-site maintenance and – crucially – links with external groups.

The housing industry should “focus on building communities made up of homes for rent that will meet the needs of all demographics and not just the 25- to 35-year-olds whose faces often adorn modern development hoardings.”

(Ken) Worpole has been involved with the development of a new almshouse in Bermondsey, south London, for United St Saviour’s, a 500-year-old charity. Construction is due to begin next spring and completed by the autumn of 2021.

Read more from Ken Worpole: https://www.eur.nl/sites/corporate/files/2018-06/KW.Rotterdam.2017.pdf

The project, says Worpole, “seeks to actively retain longstanding entanglement of residents with the life of the neighbourhood, old friendships, local parks, libraries, shops and social activities. It is open to the world and still part of everyday life.”

The site of the new homes is on a busy high street, and designed to be accessible to the general public. A glass-fronted “community lounge” will be available to local groups.

To read more: https://www.theguardian.com/society/2019/oct/27/ageing-britain-housing-crisis-build-almshouses

Boomers Retirement: Three Of The Top Hidden Costs Facing Retirees

From a Wall Street Journal online article:

“many people are poorly prepared for unexpected expenses” in later life, the study notes. Even worse, about one in five retirees (19%) and one in four retired widows (24%) experienced four or more shocks during retirement. The good news: Many older adults who get hit with stealth expenses appear to bounce back.

• Replacement costs. Big-ticket buys—a new furnace, updated appliances, a fresh coat of house paint—can put sizable dents in your nest egg. But most people don’t consider that these outlays can follow them into later life or that such costs can continue to add up for decades. A contributing factor: Many retirees underestimate their life expectancy.

• Relatives in need. This can hit you from two sides: aging parents feeling a financial pinch and younger family members who suddenly find themselves in a bind. With the latter, perhaps it can be an adult child who gets laid off or divorced, or a grandchild who needs help with tuition.

Costs in Retirement• Required distributions. Most people know that, after reaching age 70½, they must begin withdrawing funds from tax-deferred accounts (like IRAs). What they fail to understand are the ripple effects from these payouts. Required minimum distributions can, first, push you into a higher tax bracket and, second, translate into increased Medicare Part B premiums (which are tied to annual income).

To read more: https://www.wsj.com/articles/the-expenses-people-often-forget-when-they-plan-for-retirement-11571321423