They say the two things no one can avoid is death and taxes — but the third unavoidable reality is aging.

For people who make sound investments in themselves, the negative impacts of aging can be held at bay, and their retirement years can be some of the best times of their lives. By focusing on making smart and disciplined decisions during a person’s family/working years they can achieve a well-balanced lifestyle throughout the three stages of retirement.

The three key pillars to building a well-balanced retirement are: Finance, Health, and Lifestyle.

It takes the combination of having enough money correctly positioned to last for years, with good physical and mental health, and a lifestyle that is enriching and purposeful to avoid senior years cursed by problems and regrets. The people who take a well-balanced approach are all the better for it — but it’s never too late to adjust and help mitigate the worst aspects of the challenges of aging. Here are some of the most common areas people need to focus on as they near or are in their senior years:

3 Stages of Retirement:

1- Pre-Retirement (preparing for it)

2- Active Retirement (living it)

3- Late Retirement (declining health and approaching the end of it)

Lifestyle
Retirement today is not about coming to a full stop. Retirement today is about no longer doing what you have to do and to start doing what you want to do!

Living a healthy life full of activity, relationships, and purpose is the magic ingredient to a well-balanced retirement. People need to keep moving, stay engaged, and do all they can to trat their bodies and their minds as their most important assets.

Aging is not a one-way ticket to poor health, loneliness, boredom, and a declining quality of life. There are a number of measures people can take now and carry through their entire life that will greatly increase the odds that their senior years will continue to be healthy, productive, and rewarding.

The journey to a healthy and balanced lifestyle can begin at any age. Explore lifestyle topics related to wellness, travel, discounts, diet, exercise and more as part of your journey to Retire Like a Genius!

Health
One of the most important investments a person can make for living a well-balanced retirement is in their health and planning for long-term care security. Doing all that is possible to avoid the expensive costs of declining health and the need for long-term care will preserve retirement funds for much longer and provide for a more enjoyable and fulfilling lifestyle.

But, it is important to also plan for the fact that 70% of people over the age of 65 will need some form of long-term care services in their life. Not being adequately prepared can be ruinous for the person who needs care — and for the entire family.

Avoiding these negative consequences requires healthy living and a proper combination of health insurance, long-term care insurance, and an understanding of how the long-term care system works. Staying healthy while aging and navigating the many decisions related to long-term care options doesn’t have to be confusing.

Learn about the importance of staying healthy throughout retirement and the many options available for long term care and assisted living as part of your journey to Retire Like a Genius.

Finance

Most people underestimate the costs of retirement, but a good rule of thumb to measure how much you would need in financial security is to take your current income and multiply that by 10.

With that amount of money saved, invested, and the value of entitlements from Social Security and Medicare, a person may be able to maintain a reasonable facsimile of their current lifestyle.

The sooner one begins taking advantaged of tax-advantaged investment vehicles such as 401(k)s and IRA’s, keeping debt in check, securing the future with insurance, and understanding how entitlements will factor into their retirement the better — but it’s never too late to start.

No one can get to their destination without a roadmap. Putting together the financial underpinnings of a well-balanced retirement takes knowledge, discipline and a gameplan to safely arrive. Learn more about how to use investment options, retirement plans, insurance, estate planning, and entitlements to help people Retire Like a Genius.

Conclusion

As people approach and then enter their senior years there are many challenges that await them. But they can increase their chances of overcoming them and experience a well-balanced and meaningful life in retirement by properly planning and making smart financial, physical and lifestyle investments.
_______________
Chris Orestis, Retirement Genius is a nationally recognized senior care advocate and expert in retirement, long-term care and specialty senior living funding solutions. The author of two books, numerous published papers and articles, and a frequent industry speaker; he is the innovator that brought the LTC Life Settlement into the market over a decade ago.