Your Golden Decade
There have been 44 US Presidents (45 presidencies but we are only counting Grover Cleveland once even though he was elected twice). All men who thought they had accomplished something immortal in their lifetime……now name them. That’s right, name them all. If immortality is proving elusive for U.S. presidents, there isn’t much hope for the rest of us.
What does this have to do with money you ask? While the folks in Washington DC may not be memorable, one of the best things you can do is invest in great family memories. Studies have shown people who spend money on others are inherently happier than ones who spend it on themselves. Make your life memorable.
This is why I always recommend embracing the decade right after you retire. We call it the Golden Decade. Go travel with your loved ones. Do the things you’ve always dreamed of, see the things you’ve never seen.
There are no guarantees regarding your health at any point in your life but especially so after 60. Trust me, you won’t feel like schlepping through an airport when you are 82 so do it now.
We understand the pattern of retirement. Spending peaks during that Golden Decade, gradually declining as the contentment of retirement sets in. Enjoy your bucket list with reckless abandonment.
Any opinions are those of Tim Holcombe and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. This material is provided for educational purposes only and does not constitute investment advice. Prior to making an investment decision, please consult with your financial advisor about your individual situation.