Many people view retirement as a time to do all the things they couldn’t fit in while they were working – travelling, hanging out with family and friends, or taking up hobbies. But unexpected realities may put a crimp in retirement dreams. This month’s pick of the web offers a look at a few of the things your clients should and shouldn’t do to ensure they enjoy a healthy, happy retirement.
They shouldn’t angst too much about the stock market’s gyrations. When a retiree’s income is tied closely to the health of the stock market, that person sometimes watches closely – often too closely – for fluctuations. But worrying about it rarely helps. In this Times-Tribune.com article, guest columnist Peter Shelp offers a few soothing tips for anxious retirees. Leah McGrath Goodman takes on one current source of distress, making the case in Newsweek that falling oil prices are actually good for the economy (admittedly a hard sell for Western Canadians).
They should be prepared for the death of a spouse. This USA Today piece by Michael Rowand suggests that retirees should prepare financially and practically for the potential death of a spouse (as almost certainly one will go first) to reduce stress afterward.
They shouldn’t make decisions in the throes of grief. The New York Times’ Kerry Hannon offers savvy advice for widows in the wake of a spouse’s death, including a warning to recognize the psychological trauma and hold off making big decisions – financial and otherwise.
They should think of retirement as the time to embrace a healthier life. Jamie Doward of the Guardian looks at research that shows that the idea that retirement is the first stage toward declining health is a lie. A German study shows retirees tend to pursue a more active lifestyle and are generally healthier than when they were working.
They shouldn’t leave a tax headache for the kids. The Globe and Mail’s Shirley Won makes the case that while retirees often obsess about saving and investing for retirement, they may not think much about what happens when they die. The upshot: beneficiaries may pay the price.