“There’s no place like home.”1
Conjuring an image of ‘home’ was a lot easier for Dorothy than it is for people who are on the cusp of retirement. After all, isn’t retirement supposed to be a new start? Aren’t retirees supposed to wave goodbye to friends and family as they head for new adventures in warmer climates? Shouldn’t the latter decades of life be spent traveling in golf carts down palm-lined streets and tipping umbrella-studded cocktails?
Here’s a riddle for you: Some people are reluctant to start me, unless I’m automatic. I’m frequently exhausted when I don’t roll over. I’m sometimes left behind. Retirees devour me. What am I?
Answer: A retirement savings plan.
New jobs often come with a lot of excitement and steep learning curves. Consider this example scenario:
Are younger retirees being advised to spend too conservatively?
In many cases, the answer is yes, says S. Katherine Roy, chief retirement strategist and head of individual retirement for J.P. Morgan Asset Management.