Looking Back: Advice from Retirees
A survey of retirees conducted by OnePoll in partnership with ClearMatch Medicare, found that on average they had to stop working more than a year and a half earlier than they had planned. As a result, 44% believed that the amount they saved for retirement was not enough.1
When asked to share the most common assumptions about retirement that they now know are not true, 57% cited the belief that Social Security will meet your living expenses. Another piece of misinformation identified by 51% of respondents was that Medicare will cover all your healthcare costs.
When asked to share their biggest challenges in retirement, more than half said it was accepting changes to their health as they age. Therefore, don’t assume you can stay at your job as long as you want. Be sure to build flexibility into your plan. And prioritize your health. Don’t put off lifestyle changes until you’re retired. Starting now will aid in a more enjoyable, active retirement.
In another poll by EpicRetirement, respondents stated the following tips for helping ease into retirement:
- Pick up a hobby while you’re working and grow that hobby in retirement
- Look for local meetups/coffee connections of other retirees to stay connected and meet new people
- If it works with your plan, try transitioning into retirement by going part-time
- Start a good exercise routine now – while you’re still working and keep it going throughout retirement
- Get involved in your community or volunteer
- Structure your day – get dressed for your day and have a plan
- Stay in touch with your advisor
- Try something new – get outside your comfort zone
- Take advantage of senior discounts
- Talk to a Medicare professional and make sure you know what to expect with medical coverage
Lastly, retire to something, not from something. See your next steps as something new and exciting. Be prepared. Expect the unexpected and reach out to one of our advisors to help set up your retirement goals and plan.
And to help ensure you enter your post-career years with the best ability to enjoy them, visit with your healthcare professional.
1. http://go.pardot.com/e/91522/retirement-regrets-save-money-/95lv47/2465956662/h/gGulnqmI8JCKDaFRjZVq3KQ137faE9GefvZ3ksZvc4Y
2. https://www.epicretirement.net/p/the-best-retirement-advice-from-those
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