Skip to main content

Sponsored Content

Take a Holistic Approach to Retirement Planning

Apr 03, 2017 04:33AM, Published by Family Features, Categories: Family Features, Family Features Lifestyle



Although retirement is a milestone for all working adults, decades of hard work may not pay off if you haven’t planned for your financial needs once a regular paycheck stops coming.

According to research by the Insured Retirement Institute (IRI), millions of Baby Boomers stepping into their retirement years have unrealistic expectations and lack a full understanding of the danger of running out of money during retirement. However, the challenges do not stop with Baby Boomers. A recent study indicated 47 percent of Gen-Xers and more than half of Millennials believe a secure retirement is beyond their reach.

“Most people recognize the need to grow their wealth before retirement, but getting there isn’t always a clear path,” said Cathy Weatherford, IRI president and CEO. “Starting early and taking a holistic approach to financial planning is truly essential for a safe and dignified retirement.”

Experts generally concur that it’s never too early to begin planning for retirement, but depending on your stage of life, your approach may vary. Consider this advice from the experts at IRI to get on a path toward financially secure retirement.

Student
Forming good money habits can set you up for a lifetime of success. An act as simple as putting spare change in a jar can help you start saving. Talk to adults you trust about how to create a budget and work toward a financial goal. Auto insurance and cell phone bills are important expenses to factor into your budget.

Building a career
Once you have a solid budget, stick to it and set aside some money to save. Compound interest adds up over time and the earlier you start compounding, the better. Credit will also start to play more of a factor in your life, as major expenses like buying a house or car, or starting a business rely greatly on your credit.

Mid-career
At this stage, your employer may offer a retirement savings plan. Whether you have various investments to manage or not, you should start to look at your building your portfolio and retirement plan. This mid-career life stage is a good time to set a retirement savings goal, and now is also the time to consider hiring a financial advisor.

A professional can help you explore less understood but worthwhile approaches to holistic retirement planning such as annuities. Annuities are essentially insurance contracts that come in different types and offer several options to meet a variety of financial objectives. They are a guarantee of income as you age.

Late career
At this stage, you probably have a better idea as to when you will be able to retire, but it’s important to review your savings on an annual basis and make adjustments, if needed, to stay on track. As you approach retirement, you’ll want to research Social Security, Medicare and long-term care options to ensure you have a comprehensive view of your future finances.

Ready for retirement
If you haven’t already done so, the time has come to better research your Social Security benefits (and when it’s best to start accessing them), Medicare coverage and long-term care options. This is the time to start making some choices, such as whether you will downsize your home and how to eliminate as much debt as possible. One of the more complex aspects surrounding retirement can be determining which of your accounts to tap and in what order, and a professional can help guide you.

Explore more resources and tools to aid your retirement planning at retireonyourterms.org.

Photo courtesy of Getty Images

Sponsored by Insured Retirement Institute


Like what you're reading? Subscribe to Around Concord's free newsletter to catch every headline



Family Features Family Features Lifestyle


  • $5,000 Window Contest at A & B Lumber

    09/20/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/20/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Spinning Tales and Weaving Stories

    09/20/2017
    10:00AM — 04:00PM

    There are fascinating stories behind art and fine craft. Spinning Tales and Weaving Stories is a ...


  • $5,000 Window Contest at A & B Lumber

    09/23/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Craft Fair

    09/23/2017
    09:00AM — 02:00PM

    Come on over to GoodLife’s first ever craft fair. This is a fund-raising event with a bake sale a...


  • Discovering New Hampshire

    09/23/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    09/23/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • $5,000 Window Contest at A & B Lumber

    09/26/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/26/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    09/20/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/20/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Spinning Tales and Weaving Stories

    09/20/2017
    10:00AM — 04:00PM

    There are fascinating stories behind art and fine craft. Spinning Tales and Weaving Stories is a ...


  • $5,000 Window Contest at A & B Lumber

    09/21/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/21/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Spinning Tales and Weaving Stories

    09/21/2017
    10:00AM — 04:00PM

    There are fascinating stories behind art and fine craft. Spinning Tales and Weaving Stories is a ...


  • 20th Annual Outdoor Sculpture Exhibit

    09/21/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • Discovering New Hampshire

    09/22/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Spinning Tales and Weaving Stories

    09/22/2017
    10:00AM — 04:00PM

    There are fascinating stories behind art and fine craft. Spinning Tales and Weaving Stories is a ...


  • 20th Annual Outdoor Sculpture Exhibit

    09/22/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • TELEVISION: THE ART & ETHICS OF MANIPULATION

    09/22/2017
    07:00PM — 08:00PM

    Friday, September 22, 2017 Doors open at 6:30 p.m. Program begins at 7:00 p.m. The New Hampshir...


  • Sister Hazel with Morgan Myles

    09/22/2017
    08:00PM — 11:00PM

    Miller Lite Presents Sister Hazel with Morgan Myles to benefit the Frank Monahan Foundation on Fr...


  • $5,000 Window Contest at A & B Lumber

    09/23/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Craft Fair

    09/23/2017
    09:00AM — 02:00PM

    Come on over to GoodLife’s first ever craft fair. This is a fund-raising event with a bake sale a...


  • Discovering New Hampshire

    09/23/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    09/23/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • 20th Annual Outdoor Sculpture Exhibit

    09/24/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • $5,000 Window Contest at A & B Lumber

    09/25/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • $5,000 Window Contest at A & B Lumber

    09/26/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/26/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    09/27/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/27/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    09/28/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/28/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    09/28/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • Discovering New Hampshire

    09/29/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    09/29/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • $5,000 Window Contest at A & B Lumber

    09/30/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    09/30/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    09/30/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • Beginning as a modest sawmill located on the Androscoggin River in Berlin, the Brown Paper Compan...


  • 20th Annual Outdoor Sculpture Exhibit

    10/01/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • $5,000 Window Contest at A & B Lumber

    10/02/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • $5,000 Window Contest at A & B Lumber

    10/03/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/03/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    10/04/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/04/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    10/05/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/05/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    10/05/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • Discovering New Hampshire

    10/06/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    10/06/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • $5,000 Window Contest at A & B Lumber

    10/07/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/07/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    10/07/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • Learn more about the state you love! Enjoy a guided tour of the New Hampshire Historical Society'...


  • 20th Annual Outdoor Sculpture Exhibit

    10/08/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • $5,000 Window Contest at A & B Lumber

    10/09/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • $5,000 Window Contest at A & B Lumber

    10/10/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/10/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    10/11/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/11/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    10/12/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/12/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    10/12/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • Discovering New Hampshire

    10/13/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    10/13/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • The Wizard of Oz

    10/13/2017
    07:00PM

    The Children's Theatre Project of The Community Players of Concord, NH present this enduring clas...


  • $5,000 Window Contest at A & B Lumber

    10/14/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/14/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • 20th Annual Outdoor Sculpture Exhibit

    10/14/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • Learn more about the state you love! Enjoy a guided tour of the New Hampshire Historical Society'...


  • Researching Veteran Ancestors

    10/14/2017
    01:00PM — 04:00PM

    Throughout American history, brave men and women have answered the call to serve our country and ...


  • Guided Gallery Tours

    10/14/2017
    02:00PM — 04:00PM

    Please note that there are two tours, one starts at 2:00 p.m. and the other starts at 3:00 p.m. E...


  • 20th Annual Outdoor Sculpture Exhibit

    10/15/2017
    11:00AM — 05:00PM

    20th Annual Outdoor Sculpture Exhibit Millbrook Gallery & Sculpture Garden themillbrookgallery....


  • $5,000 Window Contest at A & B Lumber

    10/16/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • $5,000 Window Contest at A & B Lumber

    10/17/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/17/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    10/18/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/18/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • $5,000 Window Contest at A & B Lumber

    10/19/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/19/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    10/20/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Guided Gallery Tours

    10/20/2017
    12:00PM — 01:00PM

    Enjoy a guided tour of the New Hampshire Historical Society's historic Park Street building and e...


  • Discovering New Hampshire: Guided Gallery Tour

    10/20/2017
    12:00PM — 01:00PM

    Learn more about the state you love! Enjoy a guided tour of the New Hampshire Historical Society'...


  • $5,000 Window Contest at A & B Lumber

    10/21/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/21/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Lecture: Old Man of the Mountain

    10/21/2017
    02:00PM — 03:00PM

    On May 3, 2003, the Old Man of the Mountain disintegrated and fell into Franconia Notch, resultin...


  • $5,000 Window Contest at A & B Lumber

    10/23/2017
    07:00AM — 05:00PM

    Imagine someone granting you the opportunity to replace your drafty bedroom windows for free as w...


  • Discovering New Hampshire

    10/24/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    10/25/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    10/26/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    10/27/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • MOVIE NIGHT! "BELLS ARE RINGING"

    10/27/2017
    07:00PM — 08:00PM

    Friday, October 27, 2017 Doors open at 6:30 p.m. Program begins at 7:00 p.m. The New Hampshire ...


  • Discovering New Hampshire

    10/28/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    10/31/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    11/01/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    11/02/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    11/03/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


  • Discovering New Hampshire

    11/04/2017
    09:30AM — 05:00PM

    From a 500-year-old dugout canoe to a 1972 Ski-doo, the exhibitions on display at the New Hampshi...


 

 

 

Weekly Recipes