10 Retirement Resolutions: Keep Your Other Resolutions Too

US News and World Report had a little piece where they discussed some good New Year’s resolutions related to retirement and I thought that I’d put each of them through their paces. The tenth and final retirement resolution was to stick to your other (non-financial) resolutions too.

It can’t hurt to eat right and exercise–and it might actually pay off. The EBRI estimates that a couple age 65 retiring today will need $295,000 to pay for health insurance premiums and out-of-pocket expenses during retirement, not including long-term care, assuming the average life expectancy of 82 for men and 85 for women. So, staying as healthy as possible, making sure you are always covered by health insurance, and investing in preventive care could protect your retirement nest egg.

Life isn’t all about money, you should stick to your other non-financial resolutions like losing some weight, becoming more active, enjoying life more, establishing a good work-life balance, etc; because after it’s all said and done, you want to have enjoyed the trip. The resolution focuses on the financial importance of staying in shape, eating right, and staying active; but I contend that keeping happy is also important. Happy people live longer and fuller lives, something that can’t be guaranteed with an extra dollar or two.

Source: US News and World Report