Established in 1929
Health City Sun
50¢
The
www.healthcitysun.com
June 3, 2022
New Mexico’s Legal & Financial Weekly
Vol. 10.102 No. 22
FORECLOSURE SALES: 0 PROBATE: 25 AUCTIONS: 7 NOTICE OF SUITS: 14 OTHER: 32 SPANISH NOTICES: 0
4 Different Ways Your Retirement Could Play Out
*Publish Legal Notices for Less!*
68¢ / line for first week 52¢ / line for additional weeks
100
T
Sponsored copy courtesy of PrimeTimeNM.com
hat’s the age that 69 percent of Americans say they want to live till, according to a just-released “Longevity and the New Journey of Retirement” study conducted by financial services firm Edward Jones in partnership with Age Wave and The Harris Poll. If that seems surprising, it may be because most of us envision what used to be called our “golden years” unfolding far differently than they did for our parents and grandparents. “Today’s retirees have a growing array of opportunities to stay engaged, possibly reinvent themselves, and enjoy the freedoms that stage of life affords,” said Edward Jones’ Ken Cella.
Okay, here’s where things start to get a bit dicey. Most of those surveyed said they should have started saving at age 29; this group, ruefully as they n o w admit, actually started at 45, which was seven years later than the average of those polled.
Ah, but, just how enjoyable your later years wind up being depends on which “path,” as Edward Jones calls it, you follow.
Consequently, while they lead active lives and are doing the best with what they have, their retirement years are what you would call “constrained.”
1.Purposeful Pathfinders
How constrained? Half You’ve seen the photos of admitted to often worrying older couples hiking or happily about outliving their money sightseeing outside the Eiffel and 54 percent with retirement Tower, right? Unless they inherited accounts have resorted to early their wealth or hit the lottery – two withdrawals. things you don’t want to depend on – it’s likely because they began 4.Regretful Strugglers saving for retirement earlier (age 34, on average) than most of the more than 4,000 retirees surveyed and invested their money wisely along the The name says it all. way. Ergo, with 78 percent of this group reporting that they’re in “great shape financially,” four words describe their retirement: happy, engaged, The least prepared for retirement, they’re also unfortunately the largest productive and contributory. group of retirees (31 percent) and have little if any savings. 2.Relaxed Traditionalists
They’re also the most unhappy, the most regretful about the choices they’ve made, and the most down on life in general.
Rest, relaxation and generally enjoying life free from past responsibilities typify them. They, too, have mainly heeded Edward Jones’ most important Sounds bleak? Wait, it gets worse. warning: “The value of financial foresight cannot be underestimated since the conventional three-legged stool for funding retirement – pensions, A whopping two-thirds of them seriously worry about outliving their Social Security and personal savings – has become even more wobbly, and savings. A fate you wouldn’t wish on your worst enemy and one you can unexpected expenses like healthcare can arise.” potentially avoid by consulting a financial advisor, like a trusted local one at Edward Jones, who can help bring you closer to the future you see for The most open to relocating – including to an adult living community yourself. Plus, one of the firm’s free online tools even lets you calculate –moving was made easier for them since they’d been saving since age 37 whether you’re on track to save enough to retire when you want. and may even have used the sale of their house to finance it. 3.Challenged Yet Hopefuls
Whether you live to be 100 or not is an entirely different story. -(NewsUSA)