Preparing for a Productive Retirement

Josh Royeton from Edward Jones joins us to discuss how to prepare for a longer, more active retirement

C1 welcome back to "live at five".

It's time for our weekly chat on finances, investing and planning for the future.

Good afternoon josh, how are you?

>> i'm well, good afternoon to you as well.

>> what is tricky in your business is that retirement today is a little different than retirement kind of how it used to be i guess.

So, people are doing different things now as they have more time in retirement.

>> absolutely.

A lot of studies have found that some so we're trying to adjust to the new reality we're heading into.

In fact 55% of recent retirees say it's time for a new chapter in life compared to just 22% who said it was a time for rest and relaxation.

That's really been a major change in the last couple years.

The same study found 95% of retirees found it was important to learn and grow at every stage of their life.

However you my find purpose, growing intellectually, retirees will be prepared.

>> people are staying healthier longer and that has a lot to do with it.

If they do more things later in life, they probably need a little more money than they might have before.

>> absolutely.

Like everything, it's always going to cost more money.

We recommend you might want to prioritize some of your goals.

As a retiree, you may want to learn more skills at a local college or vocational school.

You may take up a hobby collecting red wines.

That sounds fun.

You may want to fix up old houses.

Like everything else, you won't have unlimited financial resources during your retirement years so you need to prioritize those goals and make sure they're worthy and help you reach your sense of accomplishment.

>> i imagine it's quite an interview when you sit them down and say, what do you see your lifelike at 60, 65, 75.

Like you said, putting them on a list and cutting out nine, 10 or 11 on the list if it's just not going to be there.

>> right.

Absolutely.

We have a great my priorities quiz we have people walk through.

It may turn into, you think about it, if your health is not there, maybe travel won't be as important.

>> so to figure out what we're going to do when we're 65 or 75, that's where we come in and you have to sit down.

How do we get a hold of you at edward jones?