Retirement Wellness VISUALIZE RETIREMENT What are you saving for Two sides to retirement Source Retiree Insights 2018 Survey of Consumers Ages 5059 Greenwald amp AssociatesThe Diversified Services Group ID: 772340
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Retirement Wellness VISUALIZE RETIREMENT What are you saving for?
Two sides to retirement Source: Retiree Insights 2018 Survey of Consumers Ages 50-59, Greenwald & Associates/The Diversified Services Group of preretirees have made a serious effort to plan for financial aspects of retirement.of preretirees have made a serious effort to plan for emotional aspects of retirement.74%35%
What does having a retirement vision mean? Source: RSS4 © 2018 NMG Consulting. All rights reserved. Conducted for T. Rowe Price by NMG Consulting. working with my spouse/partner to define what we both want retirement to look like.50%creating a picture in my mind of what my retirement lifestyle could be.46%defining how I would like to receive required health care in retirement.42%defining my purpose in retirement.32%
Creating a vision can help you: Create clarity. Establish a framework. Work with others toward your vision.
w w w w wWHOWHATWHEREWHENWHYThe 5 Ws of your retirement vision
Who The people you are going to spend time with in retirement.
Interactions Help Your Health 1 Global Council on Brain Health (2017). “The Brain and Social Connectedness: GCBH Recommendations on Social Engagement and Brain Health.”2 Source U.S. Department of Health & Human Services, National Institute on Aging Who People who are socially engaged have a lower risk of cognitive decline and dementia.1Studies show a strong correlation between social interaction and health and suggest that social isolation may have significant adverse effects for older adults.2 MindBody
Who Who do you spend the most time with today?
Who Who do you think you'll spend the most time with in retirement?
Who Who will be on your wellness support team in retirement?
Who Whose wellness support team do you anticipate being on?
Steps you can take today. Who
What The activities you are going to engage in during retirement.
Workers’ visions for retirement: 11 18th Annual Transamerica Retirement Survey of Workers, Nonprofit Transamerica Center for Retirement Studies®, June 2018. What want to travel. 70%want to spend more time with family and friends.57%want to pursue hobbies.50%want to work.30%
What Source: 12 Ways Retirees Spend Their Newfound Free Time” U.S. News, August 2016 How many hours people ages 65 to 74 spend on activities each day: watching TV. Improving their homes.working for pay.shopping in person, on the phone, and online.42.51.41
What How do you spend your time now?
What How do you plan to spend your time in retirement?
What What activities will you pursue in order to have a vibrant retirement?
Steps you can take today. What
Where The places you will live and visit in retirement.
Workers cite these as their top criteria when deciding where to live in retirement: 11 18th Annual Transamerica Retirement Survey of Workers, Nonprofit Transamerica Center for Retirement Studies®, June 2018. Where 71 %affordable cost of living.49%good weather.54%nearby family and friends.
Where Which of the following factors are most important to you in deciding where to live in retirement? Rank from the most important to the least important.
Where With respect to your primary home in retirement, what characteristics are most important to you?
Steps you can take today. Where
When Your timeline for starting your retirement.
Source: Retiree Insights 2018 Survey of Consumers Ages 50-59, Greenwald & Associates/The Diversified Services Group When Expected Reasons for Retiring: Preretirees are more likely to expect to retire after reaching a personal or emotional milestone rather than hitting a financial or career goal.44%44%40%40%37%Reaching a certain age.Wanting to stop working.Feeling personally ready to retire.Reaching a certain asset level.Wanting to do other things.Eligibility for Social Security, Medicare, etc.59%
Source: Retiree Insights 2018 Survey of Consumers Ages 50-59, Greenwald & Associates/The Diversified Services Group When Likely Transitions into Retirement 29 %24%21%15%8%2%Stop working all at once.Continue to work part-time but in job outside of your primary occupation.Gradually reduce hours until no longer working.Continue to work part-time in the same primary occupation.Cycle between periods of working and not working until you are ready to permanently retire.Continue to work full-time but in a job outside of your primary occupation.
When When would you ideally like to retire, based on your personal definition of retirement?
When What is the primary reason that may influence your timing?
When What can you do now to prepare to retire “on time?”
Steps you can take today. When
Why Your sense of purpose in retirement.
Following almost 1,000 people, a study found that people with "greater purpose," per the study cited:1 Why to remain free of Alzheimer’s. 2.4x More Likelyto develop mild cognitive impairment. Less LikelyLess Likelyto develop disabilities or die young. Source: “Effect of a Purpose in Life on Risk of Incident Alzheimer Disease and Mild Cognitive Impairment in Community-Dwelling Older Persons,” Boyle, Buchman, Barnes, et. al, Arch Gen Psychiatry, March 2010.
Why What provides you with the most fulfillment or meaning in your life today?
Why What is going to provide you with fulfillment or meaning in retirement?
Why Imagine there’s a book about your retirement. What is the title?
What does your book's "dust jacket" say? Visualize Your Retirement ?
Steps you can take today. Why
w w w w wWHOWHATWHEREWHENWHYThe 5 Ws of your retirement vision
1 Continue to refine your vision 2 Talk with your spouse/family 3Work with your support teamActions for you to consider
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