When my parents retired, they were set.
They both had good pensions, and their savings were mostly in risk-free Treasury bills paying 8%. They had few interests outside of church, gardening and some inexpensive travel, so that’s how they spent their time, and their money.
Now that I’m approaching retirement, things couldn’t be much more different. I’m 65 and have no intention of puttering around the house. I can think of a lot more productive ways to spend my time, including doing things to earn money, since it’s unlikely my expenses will drop. I don’t have a pension or T-bills, and if I did, they’d be paying a tiny fraction of what my parents earned.
In short, my “retirement” will be nothing like my parents’ and it’s likely yours won’t be either. We’re living longer, are less sedentary, have less stable retirement incomes and are more likely to be investing in riskier stuff simply to make ends meet.
In this week’s “Money!” podcast, we’re going to talk to Alison Carnie, a certified financial planner and the director of trust services at Edward Jones. The brokerage firm recently conducted a study called “The Four Pillars of the New Retirement” outlining the new challenges facing today’s (and tomorrow’s) retirees.
As usual, my co-host will be financial journalist Miranda Marquit.
Sit back, relax and listen to this week’s “Money!” podcast:
Not familiar with podcasts?
A podcast is basically a radio show you can listen to anytime, either by downloading it to your smartphone or other device, or by listening online.
They’re totally free. They can be any length (ours are typically about a half-hour), feature any number of people and cover any topic you can possibly think of. You can listen at home, in the car, while jogging or, if you’re like me, when riding your bike.
If you haven’t listened to a podcast yet, give it a try, then subscribe to ours. You’ll be glad you did!
Want more information? Check out these resources:
- The Four Pillars of the New Retirement from Edward Jones
- “5 Simple Steps to an Awesome Retirement“
- “7 Mistakes Guaranteed to Ruin Your Retirement“
- Money Talks News’ newsletter
- The Only Retirement Guide You’ll Ever Need
I founded Money Talks News in 1991. I’m a CPA, and I have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.