How quickly you spend your retirement savings may be related to your personality. And your personality may impact more than if you have debt or a plan to leave an inheritance. That’s the finding of recent research by the American Psychological Association.
Low interest rates can have a real impact on those who are planning their retirement and those in retirement. Financial planner Anne Graham talks about the issues it can raise and suggests how to handle what can be a difficult time for investing.
A study conducted by the University of Michigan surveyed about 20,000 individuals in the US aged 55 years and older. It asked questions about life satisfaction. ‘One of the first questions we asked was . . . whether money makes people happier in retirement,’ reports researcher Michael Finke. ‘The answer was yes—in fact, quite a bit happier.’
The good folk at YourLifeChoices have looked at retirement affordability again, but have also, in their latest quarterly Retirement Affordability IndexTM, provided some expert advice about what the Australian government needs to consider in its retirement income review.
Many senior Australians want to continue working beyond their Age Pension age. Being active in the paid workforce beyond this point can be good for both your financial position and your mental health.
So, what’s in the news about retirement finances? I’m developing the habit of every now and again checking out what’s happening in that area. I Googled ‘retirement finances news’ to see the latest findings and share some of what I’ve found. Here are 5 things I learned online that could be helpful as you look at your finances for retirement.
The biggest difference for Australian seniors who are ‘legally blind’ is that they can be paid the full rate Age Pension without any means-testing.
In this quarter’s YourLifeChoices Affordability IndexTMyou’ll find information about building your nest egg; the negatives of negative growth and how to best secure your lifestyle when you stop work—and more. It’s a worthwhile read for those planning retirement or in retirement.
Couples fight about money. In fact, one study discovered it was the ‘number one issue couple’s fight about.’ And it discovered that ‘money fights’ were the second leading cause of divorce—behind infidelity.
Residential aged care is needed when a senior can no longer be adequately cared for at home. As a general rule, this happens when a senior can’t safely walk around indoors alone and/or who can’t remember to go to the toilet.