2025 Retirement Guide

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Sunday, February 23, 2025

Journal-World RETIREMENT GUIDE

TIME FOR A CHANGE Local experts tout ‘phased retirement’ for workers struggling with decision

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INSIDE

FINANCES

By Bella Waters

• Income

Special to the Journal-World

Douglas County Senior Resource Center executive director Megan Poindexter can’t wait to retire.

“I see all these opportunities and all these fun things that people can go do, and I’m still in the eight to five sector,” Poindexter said.

To Poindexter, retirement is an exciting time of self-discovery and autonomy. It is a new stage of one’s life. Still, it can be a scary and daunting transition. To make the transition smoother, one strategy that many retirees are employing is phased retirement: working a new job between their careers and full retirement.

This could be contract work or reduced hours in one’s current position. It could also mean shifting to a consultant position or getting a new job entirely.

Basically, phased retirement can be anything you want it to be.

“Do you want something that is really consistent hours? Or do you want something super flexible?”

Poindexter said.

Poindexter said that the Senior Resource Center is the retirement job for many of her employees. This includes a lot of the center’s Senior Wheels transportation team.

“It’s very flexible. Some of them work like six hours a week. That’s it,” Poindexter said. “And they love it, and they’re happy and it gives them what they want.”

Other employees only work mornings or a couple days of the week.

“That works pretty well for them because it does allow that transition to be a little softer, figuring out how you want to fill your time,” Poindexter said. “And that then also means that when they are ready to fully, fully retire they’ve got a little maybe extra cash in their pocket.”

There is no one retirement job that will work for everyone. Instead, Poindexter said people need to think about what they want to do,

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uncertainties leave some retirees worried.................2C

• Tips for keeping

calm on investment decisions..............3C

• How to uncover

your true financial goals......................3C

LEISURE • Top travel trends

for 2025...............4C

• A guide for making sports travel your retirement hobby in 2025.....................4C

Bella Waters/Special to the Journal-World

MEGAN POINDEXTER, EXECUTIVE DIRECTOR OF THE DOUGLAS COUNTY SENIOR RESOURCE CENTER, said many area residents experience the benefits of a phased approach to retirement. and the nature of the job.

She said that a physical job, like loading wheelchairs into a vehicle, may be great for some retirees, but not a great fit for others.

Nate Miller, the founder of Miller Retirement Group in Lawrence,

said retirement looks different for everyone.

“I don’t think retirement is one definition that blankets everybody,” Miller said.

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HEALTH • Ways to manage

the pain of insurance deductibles that reset in the new year........................5C

• How to keep

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| Sunday, February 23, 2025 .

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FINANCES

Social Security’s uncertainties, limited savings spark worry

By Erin Cogswell Wealth of Geeks via AP

The “golden years” seem to be losing their luster for many retirees, as a new study by Clever Real Estate found that nearly two-thirds (63%) believe the United States is facing a retirement crisis. Many older Americans likely thought their retirement would look like their parents’ postwork years, full of travel and leisure. However, few are finding that to be the case.

“The idea of retirement is evolving as people live longer and healthier lives,” said Jean-Baptiste Wautier, Financial and Global Economic Policy Leader at Wautier Family Office.

“Many individuals are extending their working years, either out of necessity or choice, leading to the rise of phased retirements, part-time work, and second careers.”

Rising costs on everything from groceries and gas to health care have put many older Americans in a pinch, and there’s an overarching worry that the government isn’t doing enough to help them. Over half of those surveyed said their current retirement plan doesn’t accommodate future changes in the economy, such as the high inflation rates the country has seen following the COVID-19 pandemic.

Considering that about 43% of retirees say they don’t have enough money saved for a comfortable retirement, the situation certainly feels dire. However, experts hesitate to call it an outright crisis and differ from retirees on possible solutions.

The current state of retirement Most financial experts recommend saving 15% to 20% of your annual income for retirement, including employer contributions to a 401(k). With an average yearly salary of about $60,500, workers would need to save $9,000 to $12,000 annually throughout their employment to retire comfortably. The annual cost of retirement differs in each state, ranging from $58,190 in West Virginia to $129,296 in Hawaii.

In reality, the average retiree has only saved about $308,000 to see them through retirement, which can last 10 to 20 years. That leaves about $15,000 to $30,000 annually to live on, outside of any social security or pensions, or just $1,250 to $2,500 a month.

Government programs

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like Social Security are meant to provide some relief, but for how long is unknown. Projections suggest the Social Security trust fund will only be able to pay benefits in full through 2037, after which it can only pay 76% of the scheduled benefits.

That’s troubling because Social Security is the only income source for about 20% of retirees.

Social Security currently pays an average of $1,976 a month, about $23,700 a year.

“The current Social Security system isn’t intended to cover all retirement expenses,” said Dr. Jay Zigmont, a Certified Financial Planner (CFP) and founder of Childfree Wealth. “It was intended to supplement other retirement funds. It’s tough to live on Social Security alone.”

Health care is the largest expense for retirees.

The average annual cost is $7,942 for those ages 65–74 and $8,145 for those 75 and up. That’s $661 to $678 a month, which doesn’t leave much room for other monthly expenses if your retirement savings are at the low end.

Having Medicare helps, although the monthly premium will increase to $185 in 2025.

Should retirees be worried? What the experts say Experts agree that retirees should be wary about their finances, given the coming Social Security shortfall, low retirement savings, and rising costs. If it’s not quite a crisis, it’s certainly concerning.

“Some concerns may be overstated due to sensational media coverage or underutilized assets like home equity,” said Steven Kibbel, a CFP and founder of Kibbel Financial Planning. “However, for those with low savings or reliance on Social Security, pessimism is indeed justified.”

While the exact amount will vary, most people can expect to need about 80% of their pre-retirement income each year after they stop working. So, if you earn $60,000 a year, expect to spend about $48,000 a year after you retire.

The general rule is that your retirement savings should be 10 times your income by age 67. Saving that much was likely more attainable for previous generations, who benefited from pensions, more reliable income streams, and shorter retirements.

Gen X is the first generation that most people will retire without a pension, Zigmont said. That means saving through a 401(k) or opening additional retirement accounts is primarily up to them. According to the Clever survey, almost half of retirees didn’t start saving for retirement

until they were 40 or older.

Solving the retirement struggle Retirees see a few ways to solve their struggles.

Eighty percent of those surveyed believe the government should do more to help them, and roughly the same amount say retired Americans shouldn’t have to pay taxes. About a quarter suggest raising taxes on workers to support retirees. Many also believe they should get priority for government aid over working people.

Experts see other options for overcoming the challenges. Debra L. Morrison, a CFP and financial coach at Women Navigating Finances LLC, suggests raising contribution limits to Defined Contribution Pension Plans, IRAs, and Roth IRAs to entice taxpayers to save more money for retirement. She also said a .5% tax on the ultra-wealthy

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could shore up Social Security and Medicare’s long-term insolvency.

“In this way, our seniors could once again feel confident they can receive their Social Security benefits and affordably priced health care as they age,” she said.

In addition, Morrison recommends reducing the age of required minimum distributions (RMDs) to 68, which would fill the Treasury’s coffers with additional tax revenue from wealthy and ultra-wealthy retirees. Exempting Social Security income from up to 85% taxation for individuals making less than $25,000 and couples making less than $75,000 could also help. Finally, she advises a tax of 100% of retirees’ Social Security benefits for individuals earning more than $1 million and couples earning over $2.5 million.

It’s never too soon (or too late) to grow your retirement fund Despite the challenges current retirees face, they can take steps to improve their finances. For instance, if their house is paid off, they can use a reverse mortgage to supplement their income. Other options include downsizing their home or moving to a less expensive city or state. Retirees can further save by using a discount real estate agent or negotiating their agent’s commission fees directly to keep more of their home’s profits.

Brian Rudderow, a real estate investor at HBR Colorado, said investing in a real estate investment

trust (REIT) could provide a steady stream of passive income. Retirees should also consider investment options that offer tax breaks, such as multifamily properties or solar energy.

“The current state of retirement is objectively more challenging than what previous generations have faced, but that doesn’t mean that opportunities don’t exist,” he said. “Retirees who are up to speed on the changing dynamic in the marketplace will come out ahead of those who remain overly pessimistic and fail to adapt to the current economic shifts we’re experiencing.”

Building additional income streams, paying down debt, and planning for increased healthcare costs now can help workers prepare for a more secure retirement. Kibbel also recommends waiting until age 70 to draw Social Security, significantly increasing monthly benefits.

Say your full retirement benefit starts at age 67 with a $2,000 monthly payment. Drawing Social Security at the earliest qualified age, 62, reduces your monthly payment to $1,400. However, if you can wait until age 70, you’ll draw $2,480 a month.

“While systemic changes are absolutely needed, individuals can take proactive steps now to enjoy a more secure retirement,” Kibbel said. “Having to constantly stress about finances in your ‘golden years’ can sure take the gold (and joy) out of retirement.”

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Sunday, February 23, 2025

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FINANCES

How to not let headlines sway your investment decisions

By Amy Arnott Morningstar via AP

Recency bias is the tendency to place too much weight on the latest performance trends while giving short shrift to other factors, such as fundamentals, valuation, or long-term market averages.

Market news, by definition, focuses on recent events rather than longterm trends. As a result, recent events are top of mind, easier to remember, and often play an outsize role in investment decision-making.

But there are steps investors can take to guard against these tendencies: l Be a student of longterm market history.

When I’m thinking about asset-class performance, I like to look at performance over as long a span as possible. The IA SBBI indexes are my goto source for major assetclass statistics going back to 1926. The academic trio of Elroy Dimson, Paul Marsh, and Mike Staunton have compiled

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additional data going back to 1901 on about 20 different markets globally. For valuation statistics, Robert Shiller has published data on cyclically adjusted P/Es going back to 1871. l Remind yourself that market trends are cyclical.

On a related note, it’s helpful to look at performance over rolling periods. For example, US stocks have pulled ahead of international stocks by a wide margin over most of the past 20 years,

but non-US stocks dominated the global markets from 2002 through 2007.

Similarly, while growth stocks have dominated over most of the period from 2008 through 2023, value stocks held up better during the low-return period from 2001 through 2008. The market’s inherent cyclicality means that prevailing market trends will eventually reverse, although it’s impossible to predict exactly when that might happen. l Think about performance in the context of

macroeconomic regimes.

For example, the Federal Reserve’s zero interest-rate policy prevailed over most of the period from 2009 through early 2022. During this period, repeated interestrate cuts and successive rounds of quantitative easing set a nearly 15-year expectation of low borrowing costs. This policy created a tailwind for bond performance and helped drive the correlation between stocks and bonds into negative territory. Both of those factors

made conditions ideal for bonds as portfolio diversifiers, but that regime came to an abrupt halt when surging inflation forced the Fed to make a series of rapid interestrate hikes starting in March 2022. l Think about counterfactuals.

One of Warren Buffett’s more famous quotes is, “You pay a very high price in the stock market for a cheery consensus.” In other words, if almost everyone seems to agree on a certain market outlook, it’s probably already built into market price tags.

This implies two things.

If the consensus turns out to be right, there’s less opportunity to profit from future returns, and if it’s wrong, there’s a greater potential for loss when prices eventually reset to reflect that reality. Whenever I hear market prognostications, I try to question them from a skeptical perspective. This means not just evaluating the evidence the proponents cite but also thinking about factors they might be overlooking.

l Put your investment decisions on autopilot.

This might be the most powerful tool of all because even if you’re inadvertently swayed by recency bias, it limits the amount of damage you can do to your portfolio.

The best way to do this in practice is to set a longterm asset allocation and stick with it, rebalancing periodically to bring the asset-class weightings in line with target levels.

Investing a set amount of money with every paycheck—as many employees do when they contribute to a 401(k) or other workplace retirement account—helps build consistent savings habits that are less likely to be derailed by short-term market news. Having a written investment policy statement is another way to put mental guardrails around investment decisions. Your investment policy statement should include a target asset allocation, criteria for selecting portfolio holdings, and parameters for rebalancing.

Three steps to uncovering your true financial goals

By Samantha Lamas and Ryan Murphy Morningstar via AP

What are your top financial goals?

If your goals are hard to pin down, or seem to drift, you’re not alone.

Research suggests that, even when considering important goals, people tend to answer

with whatever is topof-mind, which may not always reflect their true, long-term goals.

It can be helpful to implement ready-made processes that help us be less of a stranger to ourselves and better understand our deeper motivations, rather than fixate on top-of-mind recollections.

We’ve used our research to inform a threestep process that can help investors more strategically identify their financial goals. This process forces investors to slow down and consider the topic holistically.

In practice, it provides the space and structure that people benefit from as they think deeply

about what they want to do over the long term with their hard-earned resources. Here’s what the steps look like.

Step 1: Slow down First, take out a notepad and write down your top three investing goals.

Think of this as a brainstorming session, which can be useful to

get things rolling. But remember that it’s just the first step, and anything written here should be considered “written in pencil.”

mark off the goals on the list that are important to you. As you go along, cross out goals that don’t resonate with you.

There’s nothing magical about this master list. The benefit is that Step 2: Use a process Next, set the notepad it gives people a differaside and review an es- ent perspective on what tablished list of common they might be motivated investing goals. Consid> GOALS, 7C er each alternative, and

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| Sunday, February 23, 2025 .

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LEISURE

All-inclusive hotels among the top travel trends for 2025 cash by not staying overnight at that hotel.”

As hotel restaurants represent a top travel trend for 2025, families will find it challenging to book dining reservations. If travelers miss an early booking window and a restaurant of choice fills up, duBois recommends, “Don’t give up if you didn’t get a reservation on the first try. People change their plans and cancel. Try again, and as you get closer to your trip, consider calling the restaurant to see what options may be available.”

By Carly Neil Wealth of Geeks via AP

Expedia Group recently unveiled Unpack ‘25, its outlook for 2025 travel trends. The report offers insight into what motivates travelers’ wanderlust in the new year. In addition to forecasting the most highly sought-after destinations, Unpack ‘25 highlights the trends and behaviors displayed by travelers as they plan their vacations for the upcoming year.

The newest list of trends includes the rise in popularity of all-inclusive hotels, destinations inspired by film and television, hotel restaurants, and more.

Experts lend their expertise to these trends as insight into what travelers must consider when booking a vacation in 2025. While any one of these trends offers a unique starting point when planning travel, research remains a top priority to ensure a family ultimately enjoys a vacation.

All-Inclusive hotels One of Expedia’s predominant trends involves the rise in popularity of all-inclusive hotels. These hotel types, where most dining and amenities come included in a single pernight fee, offer an ultra-convenient way of planning travel that minimizes itemized costs.

Younger travelers, in particular, show an interest in allinclusive hotels. According to Expedia’s Unpack ‘25 report, 42% of Gen Z travelers prefer all-inclusive resorts above other hotel types.

Gavin Doyle, founder of Mickey Visit and best-selling author of Disneyland Secrets, predicts the popularity of allinclusive hotels will continue in future years. He shares, “Allinclusive hotels, like cruise ships, were once seen as vacation styles more suited for

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older travelers. These days, however, resorts offering allinclusive amenities are becoming more attractive to younger travelers looking to score deals.

Plus, these resorts are pulling out all the stops to offer great dining, exciting excursions, and top-tier amenities.”

Theme park journalist Megan duBois urges families to continue their research before booking a trip. “Picking travel based on trends can be fun, but you need to think about what you want to do on vacation first,” says duBois. She warns, “Not every all-inclusive is the same. If you’re unfamiliar with the all-inclusive landscape, you may want to find a travel agent who specializes in resort-style vacations and can direct you to the best one based on your interests and budget.”

The path less traveled In 2025, travelers will seek out new ways of enjoying their vacations involving off-thebeaten-path destinations and unique itineraries. Popular

destinations will consistently rank high on travelers’ lists, but Expedia also predicts an increased interest in “detour destinations.” These locations sit adjacent to their more popular counterparts — like Reims, France versus Paris, or Cozumel, Mexico versus Cancun — and offer similar attractions with fewer crowds.

If a detour destination tops a family’s list of potential vacation spots, duBois urges them to do extra research to see if the city warrants a full vacation. “Think about what there is to do. Is there enough to fill an entire trip, or should you get a rental car or learn public transportation to venture to another city to explore for a few days?”

Switching up the typical family vacation in 2025 also looks like opting for a less conventional travel itinerary, as nationally syndicated travel writer Monica Fish described.

Her kids recently enjoyed a “JOMO,” or Joy of Missing Out, vacation. She shares, “We had no schedule, activities, or tours

If you want to make sports travel your retirement hobby, here’s how

By Casandra Karpiak Wealth of Geeks via AP

Sports tourism goes beyond a niche trend — it’s a global phenomenon. According to the UN World Tourism Organization, it generates 10% of international tourism spending and is only expected to grow.

For travelers, attending a live event is much more than watching a game; it’s about connecting with local cultures and enjoying authentic experiences beyond the final whistle.

According to American Express Travel’s 2024 Global Travel Trends Report, athletic events have emerged as a leading travel trend. The report reveals that 58% of consumers are interested in traveling to attend sporting events, while 37% already have plans to do so this year.

Europe commands the largest share of the sports tourism industry, accounting for $119 billion USD in 2020. Iconic cities such as London, Paris, and Madrid have cultivated a reputation for hosting large-scale events, attracting millions of sports enthusiasts annually.

North America follows closely, energized by the popularity of American football, basketball, and baseball, in addition to major international spectacles like the Super Bowl and the NBA Finals.

Sin City is an excellent example of the powerful combination of sports and tourism. Las Vegas has reinvented itself as a central hub for sports tourism, earning the nickname “Sports City.”

With the arrival of iconic leagues such as the NFL, NHL, WNBA, and soon Major League Baseball, alongside the glamour of

Formula 1 racing, the city has become a magnet for sports enthusiasts.

The transformation has proven lucrative. According to the Las Vegas Convention and Visitors Authority (LVCVA), the number of visitors traveling to Vegas for live sporting events has tripled since 2022, exceeding 2 million annually.

But it’s not just about established cities like Las Vegas — cities worldwide are investing in major sporting events to attract tourists and showcase their cultures. As we look ahead to 2025 and beyond, these exciting events are worth traveling for.

Where to stay and play in North America Every spring, Scottsdale becomes the epicenter of Major League Baseball’s Cactus League.

From Feb. 20 to March 2, fans can catch their favorite teams in action at Scottsdale Stadium and Salt River Fields at Talking Stick. Luxury resorts like The W Scottsdale, Hotel Valley Ho, and Andaz Scottsdale Resort & Bungalows offer spring training packages. Boasting over 330 days of sunshine each year, golfing, hiking, and exploring Old Town’s vibrant dining scene are popular pastimes in Scottsdale.

Known as “The Most Exciting Two Minutes in Sports,” the Kentucky Derby delivers tradition, elegance, and thrill every first Saturday of May. The 2025 edition promises even more glamour with Churchill Downs’ recent $90 million renovation.

Guests can sip signature mint juleps and don extravagant hats before retreating to The Brown Hotel or The Seelbach Hotel. While in Louisville,

extend your visit with a tour of the Bourbon Trail or a stop at the Muhammad Ali Center.

Formula 1’s growing popularity in the U.S. has brought high-speed excitement to Miami.

From May 2-4, fans can experience the thrill of the Miami Grand Prix while enjoying the city’s iconic beaches and vibrant nightlife. Stay at luxurious properties like The Biltmore or W South Beach. After the race, explore Miami’s Cuban culinary scene or add a luxury cruise aboard MSC’s World America, launching in 2025. The Yacht Club experience on this state-of-the-art luxury ship is a heavenly escape for any sports enthusiast looking to elevate their trip.

The Ryder Cup returns to U.S. soil at the legendary Bethpage Black Course in Long Island from Sept. 23-28. Golf enthusiasts have the chance to witness America and Europe battle it out on one of the sport’s most legendary stages. Fans can stay at luxurious accommodations like the Oheka Castle, a dreamy Gold Coast estate just 20 minutes from the course.

After the last putt falls, travel to the East End of Long Island to visit the North Fork’s awardwinning wineries or the Hamptons’ pristine beaches on the South Fork.

Europe: Where culture and competition collide The oldest tennis tournament in the world, the Wimbledon Championships, returns to the iconic All England Club in London from June 30 to July 13 for another year

> SPORTS, 7C

and didn’t leave the resort. It turns out ‘doing nothing’ was one of the biggest highlights of their year.”

Hotel restaurants Travelers once prioritized hotels close to their preferred destinations or properties with world-class amenities like spas.

These days, on-site dining options reign supreme when travelers select their hotels.

For duBois, resort restaurants now represent some of the best dining spots in town.

“Hotel restaurants have come a long way over the past few years, and many Michelinstarred hot spots are now inside popular hotels,” she says.

Top-tier hotel restaurants typically come attached to toptier hotels, meaning a higher per-night rate. However, Doyle reminds travelers, in most cases, “you are not required to be an overnight guest at a hotel to dine at their on-property restaurants. Knowing this, you can enjoy some of the best dining around while saving serious

Pop culture-inspired destinations Television and film take viewers around the globe to some of the most highly sought-after destinations without getting up from their couch.

For example, the third season of HBO’s “The White Lotus” takes place in Thailand, while Wyoming takes center stage in Paramount’s hit series “Yellowstone.” These shows, where the location itself steals the scene as much as the lead star, influence where many travelers choose to take a vacation.

Host, actress, and voice behind the Instagram account The Theme Parkette Jessica Gardner knows a thing or two about destinations inspired by pop culture.

“If time or money is limited, don’t be ashamed of being too ‘touristy’ by signing up for a tour or all-inclusive package based on what interests you,” Gardner shares. She once participated in a “Magical Mystery Package” in Liverpool, which included stops at Beatles-related sites around the city. The tour eliminated the need to drive around a foreign country, and Garnder found a community of fellow Beatles fans. “Being with other Beatles enthusiasts,

> TRAVEL, 7C

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HEALTH

How to deal with fresh health insurance deductibles in the new year Closely examine invoices for errors Medical bills can be filled with errors. Someone at the hospital or doctor’s office may have entered the wrong code for the care you received.

They also may have sent a bill before insurance coverage was sorted out.

For emergency care, make sure a bill complies with the No Surprises Act. That law requires that patients receive innetwork coverage with no additional billing for most emergency care. It also offers other protections for patients treated at an in-network hospital.

By Tom Murphy Associated Press

Many Americans with high-deductible health insurance plans face a cold reality at the start of every year.

Those deductibles will have to be paid before most coverage starts.

That can mean thousands of dollars in fresh health care bills.

Such financial hits can be brutal for patients with cancer or other chronic conditions. They may have met their deductibles last year, only to see them reset in January.

Patients who use taxexempt accounts to set aside money can soften the crunch. There are no simple solutions to erase the problem for those without such accounts.

However, patient advocates say there are ways to manage the challenge.

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This can be confusing.

A plan may have separate deductibles for individuals and families. You may meet the individual deductible but still have to satisfy the other when Know the financial pain family members get care.

The also may be a difthat may await with a ferent deductible for high-deductible plan Patients should know prescriptions.

Understand the paythe size of their deductibles and how they work. ments you’ll have after

meeting the deductible.

Insurance plans typically require patients to continue footing a percentage of their bill — called coinsurance — until they hit their annual out-ofpocket maximum.

Many people don’t understand that they will still have to pay the coinsurance after meeting the deductible, said Nicole

Broadhurst, CEO of Tennessee Health Advocates, which helps patients with medical billing.

The financial hit for care can be worse if you see a doctor outside your insurer’s coverage network. Make sure care is in your insurer’s network before you go to the appointment.

Ask for help with big medical bills There are several organizations that help people navigate medical bills. They include Broadhurst’s Tennessee Health Advocates and the nonprofit Patient Advocate Foundation, which offers an online directory of resources for help.

Consider seeking financial assistance for a bill

that seems unmanageable.

Some hospital systems may provide help for people with income levels as high as six figures.

Patients should be persistent in asking for help or finding out why an application was denied.

That may have happened due to a mistake.

Hospitals or care providers also may be willing to set up no-interest payment plans.

Now’s a good time to get the care that will be covered Some routine screenings and preventive care like annual physicals should be covered regardless of the deductible.

Broadhurst recommends getting those early in the year. If doctors find something they need to treat, then you have the rest of the year to figure out how to handle that financially.

If there’s nothing to worry about, then perhaps you have time to set aside money in case the deductible hits later in the year.

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RETIREMENT GUIDE

| Sunday, February 23, 2025 .

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HEALTH

Leaving an heir for online accounts can keep digital legacy alive died, people can submit a request to memorialize the account through the settings menu. Go to the Report a Problem section, then Account and profile, then Manage account, where you can report a deceased user.

Once an account has been memorialized, it will be labeled “Remembering.” No one will be able to log into the account, which prevents anyone from editing the profile or using the account to post new content or send messages.

By Kelvin Chan Associated Press

London — Most people have accumulated a pile of data — selfies, emails, videos and more — on their social media and digital accounts over their lifetimes. What happens to it when we die?

It’s wise to draft a will spelling out who inherits your physical assets after you’re gone, but don’t forget to take care of your digital estate too. Friends and family might treasure files and posts you’ve left behind, but they could get lost in digital purgatory after you pass away unless you take some simple steps.

Here’s how you can prepare your digital life for your survivors:

Apple The iPhone maker lets you nominate a “ legacy contact” who can access your Apple account’s data after you die. The company says it’s a secure way to give trusted people access to photos, files and messages. To set it up you’ll need an Apple device with a fairly recent operating system — iPhones and iPads need iOS or iPadOS 15.2 and MacBooks needs macOS Monterey 12.1.

For iPhones, go to settings, tap Sign-in & Security and then Legacy Contact. You can name one or more people, and they don’t need an Apple ID or device.

You’ll have to share an access key with your contact. It can be a digital version sent electronically, or you can print a copy or save it as a screenshot or PDF. Take note that there are some types of files you won’t be able to pass on — including digital rights-protected music, movies and passwords

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It’s not possible to nominate a legacy contact on Elon Musk’s social media site. But family members or an authorized person can submit a request to deactivate a deceased user’s account.

Adobe Stock Photo

stored in Apple’s password manager. Legacy contacts can only access a deceased user’s account for three years before Apple deletes the account.

Google Google takes a different approach with its Inactive Account Manager, which allows you to share your data with someone if it notices that you’ve stopped using your account.

When setting it up, you need to decide how long Google should wait — from three to 18 months — before considering your account inactive. Once that time is up, Google can notify up to 10 people.

You can write a message informing them you’ve stopped using the account, and,

optionally, include a link to download your data. You can choose what types of data they can access — including emails, photos, calendar entries and YouTube videos.

There’s also an option to automatically delete your account after three months of inactivity, so your contacts will have to download any data before that deadline.

online form.

The social media company strongly recommends Facebook users add a legacy contact to look after their memorial accounts. Legacy contacts can do things like respond to new friend requests and update pinned posts, but they can’t read private messages or remove or alter previous posts. You can only choose one person, who also has to have a Facebook account.

You can also ask Facebook or Instagram to delete a deceased user’s account if you’re a close family member or an executor. You’ll need to send in documents like a death certificate.

Facebook and Instagram Some social media platforms can preserve accounts for people who have died so that friends and family can honor their memories.

When users of Facebook or Instagram die, parent company Meta says it can memorialize the account if it gets a “valid request” from a friend TikTok The video-sharing plator family member. Requests can be submitted through an form says that if a user has

Passwords Besides the major online services, you’ll probably have dozens if not hundreds of other digital accounts that your survivors might need to access. You could just write all your login credentials down in a notebook and put it somewhere safe. But making a physical copy presents its own vulnerabilities. What if you lose track of it? What if someone finds it?

Instead, consider a password manager that has an emergency access feature.

Password managers are digital vaults that you can use to store all your credentials.

Some, like Keeper, Bitwarden and NordPass, allow users to nominate one or more trusted contacts who can access their keys in case of an emergency such as a death.

But there are a few catches: Those contacts also need to use the same password manager and you might have to pay for the service.

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RETIREMENT GUIDE

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of thrilling matches and quintessential British elegance. Expect strawberries and cream, crisp white attire, and nail-biting games from some of the sport’s biggest stars.

Luxury stays like The Ritz London or The Bloomsbury offer easy access to the All England Club and iconic landmarks like Buckingham Palace.

Pair the tournament with traditional English afternoon tea at Dalloway Terrace for a true taste of British sophistication or an exclusive Tower of London tour after closing to witness the centuriesold Ceremony of the Keys.

Every year from August to May, spectators flock to the picturesque

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by, and moreover the opportunity to just evaluate options, rather than having to generate ideas and evaluate them at the same time. Doing two things at the same time is hard (think about trying

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Even with a retirement job, leaving a decadeslong career is intimidating. Often, it comes with multiple emotional hurdles. Poindexter said one of the biggest challenges of retiring is losing one’s social network.

“How do you make new friends when you don’t have that built-in structure around you?” she said.

Jerome Delay/AP File Photo

CYCLING FANS WAIT ON PUY MARY PASS for the riders to pass during the eleventh stage of the Tour de France on July 10, 2024.

Sunday, February 23, 2025

The Tour de France (July 5-27) is as much about culture as it is about cycling. The race takes fans through France’s most charming locales, from the Champagne region to the Loire Valley.

Virtuoso, the leading global network of agencies specializing in luxury and experiential travel, reports that France is riding a wave of post-Olympics enthusiasm. With the worldwide spotlight on Paris during the Olympic Games, its ripple effect is already reaching smaller destinations.

Luxury accommodations like Domaine de Primard in the countryside or The Peninsula in Paris elevate the experience.

Pair your visit with wine tastings, castle tours, and gourmet French cuisine.

And don’t forget to cheer on the cyclists as they race past your chosen spot.

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wearing Beatles Tshirts, singing songs together on the tour bus, answering trivia questions, and taking pictures for each other was a fun fan experience.”

If the budget does not allow for whirlwind vacations to Asia or Europe, domestic destinations also offer an opportunity to enter a family’s favorite film or television show. Gardner recommends studio tours in Los Angeles, California, where much of the movie industry magic takes place.

Major motion picture studios, including Universal Studios, Sony Pictures, and Warner Brothers, each offer a

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unique film and television history tour. You’ll also find a full theme park at Universal with many rides and shows.

Gardner recently attended events inspired by the hit shows “Friends” and “Gilmore Girls,” both in Los Angeles. She highlights the accessible nature of these tours and events as ways to immerse a traveler into their favorite show without breaking the bank. “People may turn their noses up at the idea of a themed tour or a hop-on-hopoff bus for being a ‘cheesy’ way to travel, but it’s the most affordable and direct way to see what you want to see.” Focusing on what makes families happiest trumps any other travel trend this year.

town of Lake Como for thrilling Italian soccer matches alongside the iconic lake and a taste of Italian culture. Watching a match at the Como Stadium is a unique experience, blending the excitement of the Serie A soccer league, breathtaking lake and mountain views, and

Italy’s famed lifestyle.

While in Como, hike along Lake Como’s western shore, from Colonno to Cadenabbia, before heading to dinner at Ristorante Rino, a Tuscan gem nearby, known for its exceptional Fiorentina steaks and almost next door to Vineria Vitani.

to drive and read a text message simultaneously).

Step 3: Think carefully Now, taking both your initial list from the notepad and the marked-up list of common goals into consideration, think about your top three investing goals.

Write them down on a new piece of paper. Has your list of top goals changed since Step 1? If so, how?

A simple but effective approach: Build a master list If your goals changed, you’re not alone. In our research, we found about 70% of people changed at least one of their top three goals after going through this simple threestep process.

After considering the master checklist, some

people who initially thought of their goals in broad, vague terms began to formulate ideas that were more specific and vivid. The master list also helped many respondents shift from initial goals that focused solely on financial outcomes (which tend to be impersonal and potentially unmotivating ) to reframe their goals in

terms of their emotional and personal values. This process helped them better understand their why (not just their what).

To wrap up Next time you are faced with the big, scary question of financial planning—“What are your overarching, 30year, long-term financial goals?”—try using the

steps above to aid your decision-making and break the problem down into manageable steps. It can help you make sure that you find your true goals, and not just things that are top of mind. This helps investors be less of a stranger to themselves and to identify their why as they move toward where they want to go.

Jay Pryor, a life coach in Lawrence with 20 years of experience, said that one of their clients is currently struggling with this.

“She’s losing her whole social circle,” Pryor said.

“I mean, you’re with these people 40 hours a week.”

Many also worry that retirement will be boring, with nothing to do.

According to the TIAA Institute, 66% of retirees spend a lot or some time thinking about how they will spend their retirement time.

However, Poindexter said those entering into retirement have many options to get involved in the community.

“There is so much to do. And a lot of it is free or very low cost to participate. So we’re pretty fortunate around here,” Poindexter said.

She said the key to making connections and getting involved is being courageous and stepping outside of your comfort zone. Lawrence Public Library’s RetroActive retiree program offers over

14 different free programs for retirees to participate in, like “Dessert and a Movie” and “Retirees who Write.”

“It’s to get people out, get people talking, get people out of the house, get people interested in something,” program coordinator Lorel Lewis said.

The Douglas County Senior Resource Center connects retirees with these programs.

In addition to groups and new social networks, new hobbies can also help

retirees form an identity outside of their former careers.

They can pick up old ones, too. Pryor said that one of their recently retired clients just tuned her old, unused stand-up bass and put new strings on it.

Finances are other big sources of stress for those thinking about retirement.

“When we retire, we’re no longer working, we’re no longer getting that steady paycheck,” Miller said. “And now we’re

expected to spend everything we saved. I mean, that’s literally the exact opposite of what we’ve been doing our entire lives.”

Miller believes that having plans and running to retirement, rather than away from it, can help people be successful as they retire.

“So some good advice would be if there’s people that would be reading this that are not retired yet, (start) thinking about what you want to do when you retire,” Miller said.

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| Sunday, February 23, 2025 .

L awrence J ournal -W orld

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