AGE IS JUST A NUMBER– How Consistent Exercise Keeps You Young
one of the most important is consistent exercise. If you’re over 50, there are steps you can take to age gracefully — literally! First, remember to warm up. While you may want to start your exercise immediately, take a few moments to stretch your muscles properly. Another thing you can do is to ensure that your exercise methods are low-impact whenever you can. While you may want to go out and run several miles, approach high-impact exercising with caution. You may feel younger, but your bones and joints continue to age, and the parts of your body that serve as “shock absorbers” for the rest of the skeletal system wear out faster than the rest of your body. The main thing to do to give yourself the best chance of feeling as good as you can in your 50s and 60s is to find a consistent source of activity that you enjoy and keep doing it!
It’s been said that you’re only as old as you feel. If that’s true, then there are plenty of Americans in their 50s and 60s who feel like they’re in their 30s or 40s. As a result, they are enjoying the “prime” of their lives for much longer than generations past.
The general life expectancy for Americans has historically trended upward, though COVID-19 introduced the first downward trend in decades. Today, the average life expectancy for men is 73 and for women 79. Correlated to this increase in life expectancy is an overall improvement in a person’s quality of life. People who are 50-plus are enjoying a quality of life that, in many cases, is seamless for them compared to earlier decades. There are several contributing factors, including diet, advances in health care, and other technological improvements, but
INFLATION-PROOF YOUR RETIREMENT Tactical Approaches for Financial Security
to help cover out-of-pocket health care costs not covered by traditional Medicare. STAY INFORMED AND ADJUST Keep a close eye on economic indicators, inflation rates, and market trends. Stay informed about potential changes that may impact your retirement portfolio. Regularly review and adjust your financial plan as needed to align with evolving circumstances. WORK WITH A FINANCIAL ADVISOR Seeking guidance from a financial advisor can be invaluable in navigating the complexities of inflation in retirement. A professional can provide personalized advice, help optimize your investment strategy, and make informed adjustments based on your unique financial situation. Inflation is an inevitable part of the economic landscape, but with thoughtful planning and strategic decision-making, it’s possible to mitigate its impact. By staying proactive, retirees can enjoy a more secure and comfortable retirement.
Inflation is an economic reality that impacts individuals across all stages of life, but for retirees, the effects can be particularly concerning. Managing the rising cost of living during retirement requires careful planning and strategic financial decisions. Here are seven effective strategies to help retirees navigate inflation and maintain financial stability. UNDERSTAND YOUR EXPENSES To effectively navigate inflation, start by understanding your current and anticipated expenses. Categorize your spending into essential and discretionary items. This awareness provides a foundation for creating a budget and making informed financial decisions. BUILD A DIVERSE PORTFOLIO Diversification is a key strategy for managing inflation risk. Put together a well-balanced investment portfolio that includes a mix of assets such as stocks, bonds, and real estate. Diversification helps mitigate the impact of inflation on your overall investment portfolio.
INVEST IN INFLATION- ADJUSTED ASSETS
Explore investments that are specifically designed to combat inflation. Treasury Inflation-Protected Securities (TIPS) and inflation-adjusted annuities are examples of financial instruments that can provide a hedge against inflation by adjusting returns based on changes in the Consumer Price Index (CPI). REVIEW AND ADJUST RETIREMENT INCOME STREAMS Regularly review your retirement income streams and ensure they are flexible enough to adapt to changing economic conditions. Consider the potential benefits of annuities with cost-of-living adjustments or other financial products designed to provide consistent income throughout retirement. MONITOR HEALTH CARE COSTS Health Care expenses often rise with age, making it crucial to plan for potential increases. Consider exploring Medicare Supplement Insurance (Medigap) policies
2 • CampbellWealth.com
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