Tips for Retirement

As they’ve done at every life stage, the Boomer generation continues to cross the finish line into retirement in droves, effectively changing the way retirement looks.  Better healthcare and quality of life and increased life expectancy, means that today’s seniors are living longer after retirement than previous generations.  Many seniors opt to work past retirement age, as their retirement accounts won’t support longer retirements.  Below is a list of things to help seniors maximize their final working years as they move into retirement.


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Health Care Coverage – One great benefit to working past your retirement age is access to employer health care plans.  Stay on your employer’s plan for as long as you can before opting for Medicare or private insurance.

Health – On that same note, take care of yourself as best as you can now.  Follow doctors’ orders and instructions to better your health.  Good health now will mean better health later.


Retirement Accounts – Contribute as much as you can to retirement accounts.  If your account does not feel big enough to support you through an extended retirement, many plans will allow you to make “catch-up” contributions.  Anything extra you can put in today will help tomorrow.

Social Security – Review your Social Security decisions.  If you are still working at retirement age, the benefits you receive will be reduced by your income.  It is best to delay receiving benefits until full retirement age.

Investments – If you’re saving for retirement through investments, remember to stay away from declining industries like newspapers, chemicals or department stores.  Instead choose things like technology, insurance and health care.

When you do retire, remember this piece of advice:

Stay Engaged in the World – Now is the time to do things that make you happy, and an active lifestyle will make you more fulfilled.  Do things that you want to do instead of things you have to do.  You can work part time, volunteer, travel the world, learn something new or teach others.

And a couple things for the younger workers to remember:

Retirement Accounts – If you don’t have one, start one.  If you do have one, keep contributing.  And contribute as much as you can.  You’re only investing in your future.

Employer Contributions – Take advantage of any “free money” offered by your employer.  Many employers will match a certain percentage of your contributions.

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