MONTHLY NEWS AND INFORMATION FOR CURRENT AND FUTURE RETIREES
PRESENTED BY WESTSHORE FINANCIAL SERVICES – APRIL 2019
QUOTE OF THE MONTH
“If you rest, you rust.”
IN RETIREMENT, YOUR SPENDING COULD FLUCTUATE
Your retirement income strategy will almost certainly evolve. How much you spend will vary from year to year, and in some years, you will spend more on some things than others.
At the start of your retirement, you may spend more than you think. A recent J.P. Morgan Asset Management analysis of more than 5 million Chase accounts confirms this tendency. Good times, adventures, and costs related to your retirement transition can add up quickly, and you might find that you are spending as much or more than you did when you were working. So, this could call for an adjustment to your retirement income approach. One other thing to note: while your health care costs may rise as you age, the money you spend on travel, transportation, food, or housing may vary greatly from one year to the next and even decline with time. A meeting to assess your potential income needs for the year ahead is a good idea.1
Try the talk test when you walk, bike, or run
To make sure your aerobic workouts are really working, try talking with your walking, running, or cycling partner (or yourself) for about ten minutes after you begin. During a brisk, challenging workout, the conversation should take some effort. If you can talk smoothly, you may need to increase the pace of your workout to see real aerobic benefits.
PET OWNERSHIP COULD CORRELATE WITH HEALTHIER AGING
Each fall, the American Association of Retired Persons (AARP) and the University of Michigan sponsor a National Poll on Healthy Aging. In the 2018 poll, a majority of adults aged 50-80 said that they owned a pet, and many reported distinct benefits from that friendship. Eighty-six percent said that their pet(s) made them feel loved, and 79% credited their pets for reducing stress in their daily lives.
There was more. Forty-six percent of the respondents who indicated they were pet owners and also in fair or poor health said that their pets help distract them from their pain, and 72% of these same respondents noted that their pets helped them to contend with physical or emotional symptoms. Additionally, 73% of all pet owners polled indicated their pets gave them a sense of purpose, and 64% said that their pet led them to be more physically active than they would be otherwise. If owning a pet seems like too much responsibility to take on, consider a little pet therapy. Organizations like the Alliance of Therapy Dogs and Therapy Dogs International can bring you the company of a trained service dog for 30-minute or 60-minute sessions.2
DID YOU KNOW?
Babies have more bones
At birth, we have more than 300 bones. By age 25, we have only 206 bones. We do not lose bones as we grow up; instead, some bones made of cartilage simply fuse together.3
ON THE BRIGHT SIDE
A couple of data points suggest that baby boomers may be fulfilling their aspiration to stay in the workforce longer. Boston College’s Center for Retirement Research says that 65.1% of Americans aged 55-64 held a job early in 2019, an increase from 63.9% in 2015. The Bureau of Labor Statistics forecasts that by 2024, there will be 4.5% more Americans aged 65-74 who are either working or actively seeking work.4
It can be ten men’s length with ten men’s strength, and yet ten men cannot make it stand on its end. What could it be?
Westshore Financial Services may be reached at 616 392-1222 or firstname.lastname@example.org www.westshorefs.com
Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Westshore Financial Services are not affiliated.The information in this email is confidential and is intended solely for the addressee. If you are not the intended addressee and have received this email in error, please reply to the sender to inform them of this fact. We cannot accept trade orders through email. Important letters, email, or fax messages should be confirmed by calling (616) 392-1222. This email service may not be monitored every day, or after normal business hours. This message distributed via use of the MarketingPro system.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.
1 – cnbc.com/2019/03/05/these-surprising-spending-truths-could-upend-your-retirement.html [3/6/19]
2 – marketwatch.com/story/5-reasons-seniors-should-consider-getting-a-pet-2019-04-03 [4/3/19]
3 – livestrong.com/article/296505-the-number-of-bones-in-a-childs-body/ [4/4/19]
4 – squaredawayblog.bc.edu/squared-away/baby-boomers-labor-force-rebounds/ [2/26/19]