SATURDAY AUGUST 24TH, 2013

Alicia Munnel PicOn this weekend’s show our hosts Phil Cannella and Joann Small introduced our new relationship with the Center for Retirement Research. According to the New York Times, this is the nation’s leading center on retirement studies, and we had the pleasure of scheduling an interview with the Director of the Center, Ms. Alicia Munnell. Be sure to tune in this coming Saturday, Septemeber 31st, to hear from Ms. Munnel as she brings us the latest and most accurate information concerning your retirement.

Be sure to visit their website by clicking here: Center for Retirement Research

Also, to get an idea of what Ms. Munnell can inform you on, visit her blog on Marketwatch.com by clicking here: Alicia Munnell: Retirement Blog

To read the study in which we based this week’s Women’s segment Women and the Retirement Gap, click here: Aon Hewitt Report Shows Women Lag Behind Men in Saving for Retirement

For those of you that tuned in this Saturday you heard Phil Cannella and Joann Small review the 7 habits of Highly Effective Retirees. Below is a quick summary of the 7 habits.

7 Habits of Highly Effective Retirees

1.    Live with a sense of urgency

Retirement is your time to do everything you’ve been dreaming of during your working years.  So don’t waste that time!

2.    Be healthy

The top three causes of death today are heart disease, cancer and stroke.  You have the power to reduce your risk of all three of these simply by changing your lifestyle in retirement.  Quit smoking, eat right and drink moderately, and you’ll have a lot more of your golden years to enjoy.

3.    Retire TO something, not FROM something

Don’t think of retirement as simply getting away from your job.  Find something fulfilling to do in retirement, so you don’t end up feeling like you lack a sense of purpose.

4.    Retire based on your bank account, not on your birthday

Many retirees make the mistake of thinking they have to retire at a certain age, but delaying your retirement until you have enough money gives you the best chance of success.  By waiting to retire, you can increase your Social Security payments and ensure you’ll have a stable life when it is time to stop working.

5.    Choose Yes over No

Try new things!  When you were working, you may have been held back by your obligations.  Now that those are out of the way, don’t be afraid to say, “Yes” to something you may not have tried in the past.  Learning new things is the best way to avoid health problems like Alzheimer’s and other forms of Dementia.

6.    Do important work

Think of retirement as an opportunity to work on projects that enrich you as a person.  Retirement isn’t just about money, it’s about making your golden years fulfilling, so try volunteering or some other activity that will help others and make you feel good about yourself.

7.    Foster meaningful relationships

When you retire, your relationships with friends and family become even more important.  It’s easy to become isolated in retirement, especially if you have lost your spouse.  This can lead to depression and loneliness.  Don’t fall into that trap; maintain your old friendships in retirement and forge new ones.  Spend your golden years with the people you love.

 

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