Senior Spotlight: The Happiest Retirees Have These 3 Financial Traits…

Two authors have recently shared three key traits that just might be the secret to a happy retirement – and we are pleased to reveal them to you in this week’s Senior Spotlight!

Certified Financial Planner Wes Moss and Wealth Adviser Tony Hixon are careful to not to define retirement as the time period in which one stops working; they believe retirement may be characterized by “working part-time when you want, as much as you want, or volunteering or not working at all.” In a survey of 2,000 US households who were retired or within 10 years of retiring by this definition, the three important financial traits of the happiest retirees are:

No. 1: Having at least $500,000 in liquid assets (money in things you can sell quickly or easily such as bank accounts, stocks, bonds or mutual funds).

No. 2: Having your mortgage either paid off or an expectation that it'll be paid off within sight of when you're going to stop working.

No. 3: Having multiple streams of income; one of those could be part-time work.

Industry experts agree that those qualities point to one thing that virtually all retirees want: the ability to live without worry. Other non-financial features of the happiest retirees include social connections and curiosity, and ultimately living with a purpose. Moss and Hixon encourage older adults to always have a “Plan B”, as a commitment to a back-up plan in case your original retirement “doesn't prove to be as meaningful or purposeful as you'd hoped.”

Would the 3 financial traits above be part of what you would consider a ‘happy retirement’? How do you feel about a retirement Plan B, or even Plan C? Always feel free to share your thoughts by reaching out to bobbi@bobbidecker.com.

Resource Used: Who the Happiest Retirees and Most Unhappy Retirees Are

Bobbi Decker
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