The new retirement reality, managing your finances during a pandemic, and more…

By: Kimberly Lankford

August 8, 2020

68 million Americans are changing their retirement plans

Ken Dychtwald and Bob Morrison, co-authors of “What Retirees Want: A Holistic View of Life’s Third Age,” are some of the most-respected researchers on aging-related issues. They discuss the results of a major new retirement study, and explain how the pandemic and its economic impact are dramatically disrupting the retirement plans and preparations of Americans.

How to handle lifequakes and life disruptors

You may experience some major life changes at various ages, but most people have big changes in their 50s and 60s — when they have an empty nest, start to transition into retirement, and may begin to have some health issues. NextAvenue talks with Bruce Feller, author of the new book “Life Is In the Transitions: Mastering Change at Any Age” who interviewed 225 people of all ages to learn about the transitions they experienced and how they dealt with them.

Why your house could be your best performing asset class

People have been using their homes for a lot more than shelter while businesses have been closed over the past few months — for many, it’s now an office, classroom for children in remote school, home gym, and recreation space, too. This Wall Street Journal article explains how people are looking at different things when buying a home now, and how that has changed the housing market.

New rules of retirement

The Washington Post has a great round-up of articles by experts about how the coronavirus is changing people’s retirement plans.

Working longer was a retirement plan until it wasn’t

You may think you don’t have to save as much for retirement because you can just keep working for longer. But that hasn’t worked for a lot of people during this downturn — unlike past recessions, the unemployment rate is higher among older workers than it is for younger workers. There are a lot of people age 65 and older who are still looking for new jobs rather than retiring. This Forbes article talks about the job market for older workers and why you can’t count on working longer when planning for retirement.

How to make a financial plan when the pandemic made planning seem impossible

Money magazine article with clear advice for steps that can help you financially even during this time of uncertainty.

What seniors can expect as their new normal in a post-vaccine world

Interesting article from Kaiser Health News about how life will change for seniors, who are considered to be high-risk for the coronavirus, even after a vaccine is available — from medical care, travel, shopping, home life and gatherings.

Is telemedicine here to stay?

Telemedicine has been a way to save money on health-care costs for certain kinds of care — a doctor can diagnose you through virtual visits rather than having to spend time and money in the emergency room or even the doctor’s office. But telemedicine had been slow to take off until recently. Now that many more people have been using telemedicine while at home because of the coronavirus pandemic, they’re discovering the benefits of this type of care — and insurance companies and Medicare have given people financial incentives to use it, at least temporarily. Will those incentives continue after people can safely start to visit doctors in person again?

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