What is the Most Important Factor for Retirement?

When we talk about retirement planning, we tend to focus on the financial end of things. After all, it’s what we do! We want you to be financially secure, so that you’re free to enjoy the other aspects of your retirement years.

But what are those other factors, anyway? According to a study by Merrill Lynch, money is not the most important factor in determining retirement happiness. In a study of 3,300 retirees, 81 percent said that their health influenced their satisfaction with life more than anything else. And it makes sense; no matter how much money you have, you probably won’t enjoy a very good quality of life if you’re constantly in pain, uncomfortable, or home bound.

But yes, money did indeed rank as the second most important factor determining happiness in retirement. After financial stability, retirees said the following factors also carried a lot of weight:

• having loving family and friends
• having a feeling of purpose
• continually trying new things

Obviously, we’re here to help ensure that you can enjoy financial stability during your later years. But it’s important to pay attention to these other factors. Take good care of your health now, and you will reap the rewards later. Do all of those things your doctor is always nagging you to do. Quit smoking, cut back on alcohol, exercise regularly, eat your fruits and veggies, and schedule regular preventive care with your physician.

Aside from health and financial matters, living a balanced life can help you transition smoothly into a happy retirement. Don’t forget to take care of your personal relationships, set aside time for family and friends, open yourself up to new hobbies, and consider volunteering or other activities that keep you involved in your community. This way, when you eventually stop working, a full life will be waiting for you!

If you’re concerned about the financial end of things, schedule an appointment with us right away. We can review your plan for retirement, identify any potential problems, and help you craft solutions that bring you greater financial independence.