{"id":298587,"date":"2021-07-14T13:07:00","date_gmt":"2021-07-14T10:07:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/outside-the-box-these-are-the-3-elements-of-a-happy-retirement\/"},"modified":"2021-07-14T13:07:00","modified_gmt":"2021-07-14T10:07:00","slug":"outside-the-box-these-are-the-3-elements-of-a-happy-retirement","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/outside-the-box-these-are-the-3-elements-of-a-happy-retirement\/","title":{"rendered":"#Outside the Box: These are the 3 elements of a happy retirement"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ed76ea358b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ed76ea358b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/outside-the-box-these-are-the-3-elements-of-a-happy-retirement\/#Joe_Kesler\" >Joe Kesler<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Outside the Box: These are the 3 elements of a h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y retirement<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000335086\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000335086\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Retirement can be the best time of our life\u2014but only if we manage it right.<\/p>\n<p> I recently passed a milestone: the three-year anniversary of the day I left my 40-year banking career. What have I learned over the past three years? I\u2019ve found that a good retirement has three key elements: sound finances, wellness, and intentionality about managing time.<\/p>\n<div class=\"paywall\">\n       <strong>1. Finances.\u00a0<\/strong>I watched some of Berkshire Hathaway\u2019s<br \/>\n        BRK.A,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208872451\/composite\" class=\"negative\">-0.27%<\/bg-quote><\/p>\n<p>        BRK.B,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200060694\/composite\" class=\"negative\">-0.32%<\/bg-quote><br \/>\n       annual meeting recently. As usual, Warren Buffett was a master teacher. He showed the top 20\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.yahoo.com\/news\/warren-buffett-evolution-worlds-largest-183022665.html\" class=\"icon none\">companies<\/a>\u00a0in the world as of 1989. His point? Not one of those companies is in the top 20 today.<\/p>\n<p>He also showed the top 20 companies today. It\u2019s an impressive list. We might think of them as great companies to own for the next 30 years. But if history offers any lesson, it\u2019s that most\u2014and perhaps all\u2014will lose their dominance.<\/p>\n<p>That made me think about my own finances. I probably have an actuarial life expectancy of 20 years or so. My wife is a few years younger, so\u2014to be conservative\u2014I think we should use a 30-year investment planning time horizon. Given the demise of the 20 largest companies over the past 30 years, what\u2019s a good plan for managing our exposure to stocks over the next 30 years?<\/p>\n<p>Buffett\u2019s example made clear the compelling logic of owning low-cost\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/humbledollar.com\/money-guide\/sample-portfolio-three-funds\/\" class=\"icon none\">index funds<\/a>\u00a0that invest in all publicly traded stocks. As some giant companies fall, others will emerge. As index investors, we will profit by participating in this creative\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/humbledollar.com\/2018\/10\/creative-destruction\/\" class=\"icon none\">destruction<\/a>. We will own the next Amazon<br \/>\n        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"negative\">-1.11%<\/bg-quote><br \/>\n       or Apple<br \/>\n        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"positive\">+0.79%<\/bg-quote><span>.<\/span>\n      <\/p>\n<p>Buffett has said his\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fool.com\/investing\/2019\/09\/08\/warren-buffetts-investing-plan-for-his-family-why.aspx\" class=\"icon none\">estate plan<\/a>\u00a0calls for trustees to invest 90% of his assets in a low-cost S&amp;P 500 index<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-0.35%<\/bg-quote><br \/>\n       fund. My portfolio has a little more diversification, including a total world stock index fund. As innovation and prosperity spread to other countries, it makes sense to me to diversify outside the U.S.<\/p>\n<p>One caveat: I don\u2019t want my day-to-day bill paying to depend on stock market performance. That would be too stressful. I like a retirement income plan that also uses\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/humbledollar.com\/money-guide\/introduction-to-social-security\/\" class=\"icon none\">Social Security<\/a>, any\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/humbledollar.com\/money-guide\/pension-plans\/\" class=\"icon none\">pension<\/a>\u00a0income and other fixed income-like\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/humbledollar.com\/money-guide\/immediate-fixed-annuities\/\" class=\"icon none\">annuities<\/a>\u00a0to pay ongoing bills.<\/p>\n<p><strong>2. Wellness<\/strong>. Humans have no doubt looked for a fountain of youth ever since they discovered they were aging. But it\u2019s reached a new frenzy with baby boomers like me. I\u2019ve been through enough diets, supplements and exercise routines to write a book.<\/p>\n<p>The pursuit of eternal youth is epitomized by the $1 million that\u2019ll go to the winner of the Palo Alto\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/paloaltoprize.com\/\" class=\"icon none\">Longevity<\/a>\u00a0Prize. It\u2019s called \u201ca <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">science<\/a> competition dedicated to ending aging.\u201d To my knowledge, no one has collected yet.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Read: These \u2018super seniors\u2019 are living longer, healthier lives<\/p>\n<p>If there\u2019s a way to hold off the frailty that comes with aging, I\u2019d like to participate. But\u2014aware that frauds work most effectively with those looking for miracles\u2014I also know that selling anti-aging wares can be a fertile field for scammers.<\/p>\n<p>My advice: Treat this subject the same way you handle your finances. As an investor, I keep an eye on current events. But I seldom act on anything except advice from financial experts I trust.<\/p>\n<p>Similarly, there are exciting developments in anti-aging that are worth keeping an eye on. I\u2019m intrigued by the emerging science of\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.discovermagazine.com\/health\/senolytics-a-new-weapon-in-the-war-on-aging\" class=\"icon none\">senolytics<\/a>\u00a0that tries to remove harmful cells that afflict the elderly. It shows some promise, but it\u2019s probably years away from being anything that you and I can benefit from.<\/p>\n<p>Read: Retired but eager to pursue part-time work? How to find the right gig<\/p>\n<p>On the other hand, there\u2019s a lot of trusted, actionable advice we can im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely implement. A pain doctor told me his healthiest patients are hikers. I frequently go for long hikes, as well as regularly visiting the gym. Nutritionists consistently advise eating lots of natural foods for their vitamin and mineral content. That\u2019s also good advice.<\/p>\n<p>But whenever we\u2019re tempted to buy into a new health craze or an incredible investment opportunity, it\u2019s good to remember the story of Stephen Greenspan. He wrote a book on\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.amazon.com\/Annals-Gullibility-Why-Duped-Avoid\/dp\/0313362165\" class=\"icon none\">gullibility<\/a>, including how to avoid it.<\/p>\n<p>Unfortunately, shortly after the book was published in 2008, it was revealed that he was an\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.denverpost.com\/2009\/03\/02\/scam-expert-from-cu-expertly-scammed\/\" class=\"icon none\">investor<\/a>\u00a0in Bernie Madoff\u2019s Ponzi scheme. If a gullibility expert can be duped, clearly the rest of us need to be on our guard.<\/p>\n<p><strong>3. Managing time.\u00a0<\/strong>I love no longer going to the office five or six days a week. But I need something to look forward to each morning besides coffee. Among the unhappy retirees I\u2019ve talked to, most are bored because they don\u2019t have anything to do. That can usually be fixed.<\/p>\n<p>Read: When should I claim Social Security? When do I need to sign up for Medicare?<\/p>\n<p>If you\u2019re searching for ideas for how to spend your time, think about old interests you weren\u2019t able to pursue in the past. My quirky desire: Learn more about Western philosophy. I\u2019m up to my neck trying to understand Thomas Aquinas\u2019s view of natural law. I\u2019m sure that sounds weird to most people, but that\u2019s the point of retirement. We can pursue interests unique to who we are.<\/p>\n<p><em>This column originally appeared on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/humbledollar.com\/\" class=\"icon none\">Humble Dollar<\/a>. It was republished with permission<\/em>.<\/p>\n<p><em>Joe Kesler is the author of\u00a0<\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.amazon.com\/Smart-Money-Purpose-Liberating-Goodness\/dp\/1499162510\" class=\"icon none\"><em>Smart Money with Purpose<\/em><\/a><em>\u00a0and the founder of a\u00a0<\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/smartmoneywithpurpose.com\/\" class=\"icon none\"><em>website<\/em><\/a><em>\u00a0with the same name, which is where a version of this article first appeared.\u00a0He spent 40 years in community banking, assisting small businesses and consumers.\u00a0Joe served as chief executive of banks in Illinois and Montana. He currently lives with his wife in Missoula, Montana, spending his time writing on personal finance, serving on two bank boards and hiking in the Rocky Mountains. Check out Joe\u2019s previous\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/humbledollar.com\/author\/joe-kesler\/\" class=\"icon none\">articles<\/a>.<\/em><\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Joe Kesler\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Joe_Kesler\"><\/span>Joe Kesler<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-751C-EE402E02E4DB%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Outside the Box: These are the 3 elements of a happy retirement&#8221; Retirement can be the best time of our life\u2014but only if we manage it right. I recently passed a milestone: the three-year anniversary of the day I left my 40-year banking career. What have I learned over the past three years? I\u2019ve found&#8230;<\/p>\n","protected":false},"author":1,"featured_media":298588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-298587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/298587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=298587"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/298587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/298588"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=298587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=298587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=298587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}