Physical and financial fitness

Dear Reader,

In March, we asked seniors to share with us what they do to stay healthy — not just in terms of physical health but financial fitness as well. We also asked for nominations for the businesses that help people achieve their health and financial goals.

Their nominations formed this year’s Jewish News’ Best of Senior Physical and Financial Fitness magazine. As the COVID -19 restrictions have eased, more seniors are returning to the activities they enjoy. Zoom meetings and classes have been replaced by in-person programs and older adults are again “hitting the gym” and showing up for exercise classes.

Regular physical activity is one of the most important things you can do for your health. It can prevent or delay many of the problems that seem to come with age. It also helps your muscles strengthen so you can keep doing your dayto-day activities without becoming dependent on others.

According to the Centers for Disease Control and Prevention, some physical activity is better than none at all. Your health benefits will also increase with the more physical activity that you do. Adults aged 65 and older need:

• At least 150 minutes a week (for example, 30 minutes a day, five days a week) of moderate-intensity activity such as brisk walking. Or 75 minutes a week of vigorous-intensity activity such as hiking, jogging or running.

• At least two days a week of activities that strengthen muscles.

• Activities to improve balance such as standing on one foot about three days a week.

If chronic conditions affect your ability to meet these recommendations, be as physically active as your abilities allow. While physical fitness is essential, another type of fitness is also important as you age — your financial fitness.

Retirement experts have long warned about an impending financial shortfall for millions of older Americans. Many employers have phased out the pensions that past generations relied on for support. The shift has forced more and more people to prolong their working years or rely on their savings and Social Security benefits.

Statistics show that many adults approaching retirement age may not be financially prepared to retire: 49% of adults aged 55 to 66 had no personal retirement savings in 2017, according to the U.S. Census Bureau’s Survey of Income and Program Participation.

About 50% of women aged 55 to 66 have no personal retirement savings, compared to 47% of men. Women also lag men at the other end of the spectrum: 22% of women have $100,000 or more in personal retirement savings compared to 30% of men.

Unfortunately, even for those with retirement savings, high inflation and investment losses have forced many older adults back into the workforce.

AARP works with employers to help them identify and implement policies and business practices, with a focus on recruiting, retaining and investing in a multigenerational workforce through their Living, Learning and Earning Longer initiative. This initiative seeks to engage more than 60 employers in a learning collaborative to identify and share multigenerational, inclusive workforce practices.

We hope the information on the following pages contributes to your physical and financial fitness.

Thanks for reading!

—Mala Blomquist, Managing Editor