Retirement

Get Artsy in Retirement

Get Artsy in Retirement

Retirement marks a new chapter, offering the perfect opportunity to explore passions that may have been set aside during earlier life stages. Engaging in the arts is more than just a way to fill your schedule–it provides a wide variety of benefits that are important as we age. 

Creativity challenges the brain, enhancing memory and problem-solving abilities. It also provides an emotional outlet, helping to manage stress and create meaning. What’s more, art can open doors to the community. Joining a class or group connects you with other artists, fostering friendships and combating loneliness.

Whether you’re trying something new or rekindling a lost passion, the arts offer a world of possibilities. Here are 10 activities to consider: 

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The Pros and Cons of Retiring Early for Medical and Dental Professionals

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The Pros and Cons of Retiring Early for Medical and Dental Professionals

Once your degrees are earned and jobs are secured, many doctors and dentists find themselves on the fast track to some major financial goals -- including, perhaps, early retirement. After all, between those extra years of studying and the daily demands of working in medicine, doctors and dentists might feel like they've worked a full career well before they hit their 60s.

If you're considering adding early retirement as a life goal, discuss these pros and cons with your spouse and your Life-Centered Financial Planner.

Choosing a Retirement Withdrawal Strategy for ROL

Choosing a Retirement Withdrawal Strategy for ROL

What's the right balance between enjoying your wealth in retirement and making sure your nest egg lasts all the way through retirement?

To answer that question, many retirees turn to a number: 4%. But as many of the assumptions about both personal longevity and economic stability continue to change, longstanding assumptions about spending and withdrawal rates in retirement are changing as well.

Each of these three withdrawal strategies can be useful in preparing a successful retirement spending plan. But is any one of them comprehensive enough to improve your confidence about your retirement and your ROL?

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Pursuing Unretirement for a Better Return on Life (ROL)

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Pursuing Unretirement for a Better Return on Life (ROL)

Unretirement is on the rise. According to a recent survey by F&G Annuities & Life, 29% of retirees are considering a return to work. That includes 54% of Gen Xers who retired early.

While many retirees jump back into the workforce because they are worried about running out of money or feel like they're lacking purpose, you can also approach unretirement from a positive perspective. 

Here are three ways that unretiring might help settle some of your money concerns while boosting ROL in the process.

Three Overlooked Considerations When Relocating in Retirement

Three Overlooked Considerations When Relocating in Retirement

Moving to the proverbial beachfront condo or gated golf and tennis community are still popular retirement goals. Many seniors also plan to relocate to be closer to friends and family, to immerse themselves in their interests and hobbies, or to shake up their retirement routines with a little adventure.

But while retirees who want to move often focus on the financial and logistical challenges, relocating also involves some significant lifestyle challenges that shouldn't be overlooked.

As you're plotting your big retirement relocation, don't forget to discuss these three issues with your spouse and your financial planner.

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Navigating the Emotional Side of Retirement

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Navigating the Emotional Side of Retirement

You've been working towards this moment for decades.

But have you really prepared for it?

Once the countdown is over and you've left your retirement party, the reality of retirement is going to set in. And many new retirees are surprised by the waves of emotions they feel, especially in those first few days without work. The initial euphoria and sense of freedom can give way pretty quickly to feelings of loss, aimlessness, anxiety, and even depression.

Getting ready for this emotional side of retirement is every bit as important as preparing financially. Many of the most successful retirees focus their emotional prep on these three areas:

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Pursue Hobbies with Friends and Family in Retirement

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Pursue Hobbies with Friends and Family in Retirement

Retirement can be isolating for some seniors. Even if you're married, your spouse might still be working or going about their own daily schedule. Your adult children are busy raising their own families. Some of your older friends and family might be on different retirement timelines than you are. And as you step away from work you're also stepping away from the camaraderie and teamwork that filled your days with purpose. 

Turning hobbies and interests into more social experiences can help seniors maintain their connections to other people. Here are three reasons why those interactions are important to maintaining a high ROL in retirement:

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Try a Mini Retirement for ROL

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Try a Mini Retirement for ROL

A mini-retirement is a planned, intentional break from your normal work schedule that can help you recharge and rethink your career trajectory.

Your mini-retirement might mean downshifting to a four-day work week. It could be an extended stay-at-home vacation. Or it could be a longer break from work, like a sabbatical. Older workers who are nearing the "traditional" retirement window might also use mini-retirement to test drive their vision of what life without work will be like. 

Use this three-step process to plan your mini-retirement and make the most of the experience:

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What is Enough to Live Your Best ROL?

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What is Enough to Live Your Best ROL?

According to one popular rule of thumb, retirees should be able to withdraw 4% from their retirement accounts every year to live comfortably and not run out of money.

Another number you might have seen floating around social media is $75,000, which, according to some experts, is where annual income and peak happiness intersect.

Many other retirees have their own number in their head that they want to "hit" before they stop working. But do any of these figures really equal "enough" in retirement?

More than any dollar amount, having "enough" to retire is about feeling confident that every piece of your financial plan is aligned to sustain your Return on Life (ROL) for decades to come. Start making your own calculations by thinking about these four key categories.

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Spring Cleaning for Retirement

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Spring Cleaning for Retirement

Much like the arrival of spring, retirement can be a time of fresh starts and new beginnings. Navigating this major $Lifeline transition can also give retirees an opportunity to "spring clean" more than just our overstuffed closets and garages. Retirees can clean out the things in life that no longer bring them joy and make room for more growth, more fulfillment, more memories, and more Return on Life.

Start by looking back on your career and identifying what you liked most about your job. Then, think about how you can clear away the things that made work feel like work, such as: