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Retirement Wellness VISUALIZE RETIREMENT Retirement Wellness VISUALIZE RETIREMENT

Retirement Wellness VISUALIZE RETIREMENT - PowerPoint Presentation

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Retirement Wellness VISUALIZE RETIREMENT - PPT Presentation

What are you saving for Two sides to retirement Source Retiree Insights 2018 Survey of Consumers Ages 5059 Greenwald amp AssociatesThe Diversified Services Group of preretirees have made ID: 813440

price retirement time rowe retirement price rowe time spend source today 2018 working associates group health material services vision

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Slide1

Retirement

Wellness

VISUALIZE RETIREMENT

What are you saving for?

Slide2

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%

Slide3

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%

Slide4

Creating a vision can help you:

Create clarity.

Establish a

framework.

Work with others toward your vision.

Slide5

w

w

w

w

wWHOWHATWHEREWHENWHYThe 5 Ws of your retirement vision

Slide6

Who

The people you are going to spend time with in retirement.

Slide7

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

Slide8

Who

Who do you spend the most time with today?

Slide9

Who

Who do you think you'll spend the most time with in retirement?

Slide10

Who

Who will be on your wellness

support team in retirement?

Slide11

Who

Whose wellness support team

do you anticipate being on?

Slide12

Steps you can take today.

Who

Slide13

What

The activities you are going to engage in during retirement.

Slide14

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%

Slide15

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

Slide16

What

How do you spend your time now?

Slide17

What

How do you plan to spend your time in retirement?

Slide18

What

What activities will you pursue

in order to have a vibrant retirement?

Slide19

Steps you can take today.

What

Slide20

Where

The places you will live and visit in retirement.

Slide21

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.

Slide22

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.

Slide23

Where

With respect to your primary home in retirement, what characteristics are most important to you? 

Slide24

Steps you can take today.

Where

Slide25

When

Your timeline for starting your retirement.

Slide26

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%

Slide27

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.

Slide28

When

When would you ideally like to retire, based on your personal definition of retirement?

Slide29

When

What is the primary reason that may influence your timing?

Slide30

When

What can you do now to prepare to retire “on time?”

Slide31

Steps you can take today.

When

Slide32

Why

Your sense of purpose in retirement.

Slide33

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.

Slide34

Why

What provides you with the most fulfillment or meaning in your life today?  

Slide35

Why

What is going to provide you with fulfillment or meaning in retirement?

Slide36

Why

Imagine there’s a book about your retirement. What is the title?

Slide37

What does your book's "dust jacket" say?

Visualize Your Retirement 

?

Slide38

Steps you can take today.

Why

Slide39

w

w

w

w

wWHOWHATWHEREWHENWHYThe 5 Ws of your retirement vision

Slide40

1

Continue to refine your vision

2

Talk with your spouse/family

3Work with your support teamActions for you to consider

Slide41

Important Information

This material is being furnished for general informational purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, and prospective investors are recommended to

seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc.

and/or its affiliates receive revenue from T. Rowe Price investment products and services.

The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not been reviewed by any regulatory authority in any jurisdiction.Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources’ accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.The views contained herein are as of the date of this presentation and are subject to change without notice; these views may differ from those of other T. Rowe Price associates. Unless indicated otherwise the source of all market data is T. Rowe Price.T. Rowe Price Investment Services, Inc.T. ROWE PRICE, INVEST WITH CONFIDENCE and the Bighorn Sheep design are, collectively and/or apart, trademarks or registered trademarks of T. Rowe Price Group, Inc. © 2018 T. Rowe Price. All rights reserved.

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