Even if you’re aiming to work as long as possible, it’s smart to plan for a future in which that may not be the case Sponsored by AtheneUSA
Even if you’re actively saving, it’s still tough to forecast how much you’ll really need. “People just grossly underestimate healthcare and long-term care costs in retirement,” says Grant Kvalheim, president and CEO of Athene USA, a retirement services and fixed annuities provider. “Plus, many of today’s retirement plans place heavy responsibility on the individual to identify any gaps they may have as they plan their financial futures.
“We encourage people to have a full financial plan, a great way to save for retirement on top of a 401,” says Kvalheim. “A fixed-indexed annuity is pretty unique in replicating some of the features that people used to enjoy in a defined-benefit pension plan, which most people no longer have.” Craft a thank you note from your future retired self to current self. What healthy habits would you thank yourself for? Cutting out one sweet a week? Walking a few extra minutes a day? A regular adventure outdoors?
As you position yourself for a fulfilling retirement, savings and health are just part of the equation.points to the importance of social groups and meaningful relationships in retirement, particularly given that the transition can be jarring for some. By nurturing friendships and building strong support systems today, you may be able to preemptively combat potential feelings of loneliness or boredom down the road.
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