November 20, 2024

Ep 450: What Are You Doing With Your Next 50 Years?

40 minutes

Thanks to modern medicine, the average life expectancy has been on the rise for decades now, and women now have as much as a 15% chance of making it to their 100th birthday.

So while our parents may have planned for closer to 20 years in retirement, we need to save and invest for closer to three or even four decades. Deb Whitman, Chief Public Policy Officer at AARP and author of “The Second Fifty” joins us to talk about how to prepare financially, and otherwise, for the second half of our lives.

CHAPTERS:

00:00 What is the “second fifty”?

06:00 Why women need to financially prepare to live longer than men

13:00 Rethinking partial retirement and lifelong learning

23:00 Positive perspectives on aging

26:00 Mailbag Question 1: I’m about to inherit a significant amount of money, how should I invest it?

29:00 Mailbag Question 2: I’m 62, am I on track to retire and continue to travel the way I want to?

TAKEAWAYS:

With women potentially reaching an average life expectancy of 90+ years by 2039, we need to save for a longer retirement. This requires proactive financial planning.

Midlife is a time of new opportunities rather than decline.

Lifelong learning, career changes, and “encore careers” keep people engaged, purposeful, and financially prepared in midlife and beyond.

Learn more about our Finance Fixx program here. Use code PODCAST for a $100 discount. Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom at investingfixx.com.

Have a question for us? Write to us at [email protected]. While you’re at it, join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe!

The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney.

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By Jean Chatzky Her Money

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