Retirement Roundup: Everything you need to do before you retire

A digest of
timely information and insight about finance, investing, and retirement.

Everything you need to do before you retire | MarketWatch
Retirement is a monumental transition in a person’s life, and it shouldn’t be taken lightly. Every aspect of life is affected by the decision to retire, including relationships, health and wellness, and of course finances. Couples in particular are learning how to share their hopes and fears about retirement with one another, and looking for ways to stay active in place of their careers. “The key to a happy retirement is in the planning done during the years leading up to retirement,” said Howard Pressman, partner at EBW Financial Planning in Vienna, Va. “Not just financial planning but taking the time to envision their lives in retirement.”

3 strategies that are proven to increase retirement happiness | Forbes
How can you prepare for a successful retirement? It depends on who you ask, but traditional retirement planning has always focused on the numbers: How much have you saved? How much has your portfolio grown? What’s in your 401(k)? Are your investments tax efficient or should you consider a new investment strategy? – and that’s typically as far as most people go when it comes to evaluating whether or not they’ve prepared enough for a successful retirement. They’re not wrong, though. It would be extremely difficult to find satisfaction in retirement without any money, so it’s critical to evaluate your finances, projected growth and future expenses. But how can you take it to the next level and find true retirement satisfaction?

Health shocks drive many to retire earlier than planned | PlanSponsor
The Center for Retirement Research at Boston College (CRR) has published a new report looking into what issues commonly hold workers back from staying in the labor force beyond the age of 65. According to the report, several studies have found that a deterioration in health precipitates early retirement. Other influences on early retirement include changes in marital status and the presence of employer buyout offers, the authors write. “But no study to date has examined all of the factors together, making it difficult to say which one matters the most,” the brief says.

What do 2018 midterms mean for retirement policy and legislation? | Pew Trusts
The 2018 midterm elections changed the landscape for retirement policy, upending the status quo but still leaving the prospects uncertain for efforts to increase savings among private sector workers. At the federal level, a Democratic majority in the House brings divided government and new committee leadership. In the Senate, retirements and election losses have meant changes in the leadership and makeup of key committees. In the states, several legislatures and governorships have changed hands, resulting in new directions and policy agendas for addressing a nationwide problem. The Pew Charitable Trusts explored the prospects for federal legislation in an August brief, “Will Congress Act on Retirement Savings?” The start of the 116th Congress provides an opportunity to update that review with a look at what could be ahead over the next two years. [Read about Colorado’s 2019 legislative session here.]

How to save for retirement in every decade of your life | Men’s Health
Unlike cholesterol, blood pressure, and the time it takes to run a mile, savings may be one of those few things you actually want increasing with age. And no mater your age, there’s always a way to add a bit more to that savings pot. Arielle O’Shea, a finance journalist for NerdWallet, helps navigate the decades to reach retirement goals.

6 ways retirement has changed over the past 25 years | Kiplinger
Twenty-five years ago, Kiplinger’s Retirement Report launched to help readers enjoy a richer retirement. The first issue, published in February 1994, offered guidance on timely issues of the day, such as how to take advantage of the home-sale-profit exclusion (then $125,000) and how to comply with new rules that for the first time required a receipt for charitable donations of $250 or more. Some advice, such as how to figure tax on Social Security benefits, proved to be evergreen. In celebration of their 25th anniversary, Kiplinger’s asked some top financial and retirement experts to share their thoughts on how retirement has evolved in the past 25 years and how it might change in the years ahead.