Managing Money in Retirement

A woman once told me something that has stayed with me ever since. She said: “I know I’m okay on paper. I just don’t always feel okay.” At first, I thought she was describing a financial problem. But she wasn’t. She had retirement savings. She owned her home. She had Social Security income and no major debt. By most measures, she was financially secure…

My friend Carol was 68 when her husband Jim died of a sudden heart attack. Jim had paid every bill, managed every investment, and met with their financial advisor solo for decades. Within a week, Carol realized she didn’t even know their advisor’s name. She couldn’t get into their online…

Have you started a small business, side income, or personal project after 60? What skills from your life could help someone else today? If you wanted to earn extra money now, what would be the easiest first step for you? Many people over 60 would like to earn extra…

A woman once shared something with me that I suspect many retirees have thought but rarely say out loud. She leaned in and whispered: “What if I run out?” At first glance, her concern didn’t seem unusual. Many people worry about money in retirement. But as we talked, a different picture emerged. She had no debt. She owned her home…

If you’re a fan of helping the next generation to get a strong financial start, you may have heard about the new Trump Accounts and wondered: What exactly are they? The name has certainly generated attention, but setting politics aside, you may be wondering about some practical…

There’s a particular kind of loneliness that comes from being the person everyone else relies on. You’re the one who remembers the birthdays, keeps track of the appointments, notices when something is wrong, and quietly steps in before…

Kathryn sat across from me with a legal pad full of numbers and a look I’ve seen hundreds of times. She was 63, planning to retire within the year, and totally convinced she’d have to give up everything she enjoyed. The book club dinners. The annual trip to see her sister in Seattle. Even the occasional splurge at the garden center…

I have heard many people state the basic rule of thumb for an inheritance account: if you want to keep your inheritance separate, don’t put it into a joint account. That means if you deposit an inheritance into a shared…

Here’s something nobody really prepares you for. You work for 30 or 40 years, and every two weeks, money shows up in your account. You know exactly what’s coming. You plan your life around it. Then one day you retire, and that rhythm just… stops. You’re sitting there looking at a number…

I am a fan of national theme months, of which we have many in this country, so of course I love Financial Literacy Month in April every year. But I’m also realistic enough to know that most of the themes are best practiced all year long, whether they are health related, money related, or otherwise…