In Your 50’s? Do These 3 Things Now for a Happy Retirement

Key Message

• Steps you take in your 50’s – can ensure a happy retirement in your 60’s.
• Focus on 4 aspects that have the largest impact on a retiree’s happiness. See below.

Goal 1: Take steps to become debt-free.

1. Studies have shown that the #1 thing that makes retirees enjoy a worry-free retirement – is having no debt.
2. Take steps to pay off your debt, including your mortgage, downsize if you need to, and create multiple sources of income in your 50’s.
3. Before retirement – payoff secured debt (car, house), before unsecured debt (college costs for kids, health bills, credit cards, etc.).
4. Reasons to have no debt include increased savings, less stress and more fun to do other things like go on vacations, etc.

Goal 2: Focus on staying healthy.

• Be deliberate about exercising at least 30-60 minutes per day.
• Good health is the most important ingredient for a happy retirement.
• Studies show that exercise and a healthy diet can reduce the risk of developing certain health conditions, increase energy levels, boost your immune system, and improve your mood.
• You will reduce healthcare costs as you get older if you maintain your health.
• You will get greater value out of social security as you will live longer.

Goal 3: Get Social

• Happier retirees were found to be those with more social interactions.
• Further, social isolation has been linked to higher rates of heart disease and stroke, increased risk of dementia, and greater incidence of depression and anxiety.
• A low level of social interaction is just as unhealthy as smoking, obesity, alcohol abuse, or physical inactivity.
• Live close to family and friends if you can.
• Join groups such as retirementmonthlyincome.com/communities – where you can meet like-minded retirees that share the same interests as you.
• Make an effort to join meetups in your area around people your own age.
• Join classes or groups in activities you might be interested in (golf, poker, yoga, book clubs, etc.)

Key takeaways:

1. Studies have shown that the #1 thing that makes retirees enjoy a worry-free retirement – is having no debt.
2. Take steps to pay off your debt, including your mortgage, downsize if you need to, and create multiple sources of income in your 50’s.
3. Before retirement – payoff secured debt (car, house), before unsecured debt (college costs for kids, health bills, credit cards, etc.).