You’d think that, by the time you retire, you no longer have to do all the things you did when you were working – be responsible, pay attention to detail and respond to other people’s demands. While it’s true you may no longer employ your technical skills in retirement – whether they’re in construction, health care or administration – you do need other skills that are critical in charting your way through a successful retirement. Here are four important ones.
Healthier, heartier and richer than generations of retirees before them, they’re spending their golden years chasing once-in-a-lifetime adventures—sky diving from 13,000 feet, hiking the Great Wall of China, swimming with sharks or skiing the Andes. For them, it’s the chance to do things they put off for years while working and caring for family, and to make the most of the moments they have remaining.
If you don’t have a traditional pension through your job and haven’t been saving a significant amount in a 401(k) or individual retirement account, Social Security is likely to be your largest source of retirement income. Almost all retirees (86 percent) receive Social Security payments, and for over a third (36 percent) of retirees, Social Security accounts for 90 percent or more of their retirement income. The type of lifestyle Social Security alone will provide largely depends on how much you have earned in Social Security benefits and where you live.
Jamie McSparin, a teacher in charge of the school’s academy program for at-risk sophomore and juniors, posed a challenge for her fellow teachers: tell an individual student that they are important and appreciated.
The results were powerful. Read the Story>>
An important—and vexing—question. For instance, a healthy person will have fewer and/or smaller medical bills in later life, right? Well…maybe not. As a recent study, “An Apple a Day: The Impact of Health Conditions on the Required Savings” noted, “Excellent health, ironically, can actually raise an individual’s lifetime health spending needs because of the likelihood that healthy 65-year-olds will live much longer.”
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