Age Wave – Advancing the Potential of Aging Men & Women

Key Takeaways

• Reframe retirement as a 20-30 year 'new chapter' requiring purpose discovery, not just a wind-down period—about one-third of retirees don't know where to begin finding new meaning, so seek out purpose counselors, life coaches, or community engagement opportunities.
• Address the $440,000 average out-of-pocket healthcare and long-term care cost for retired couples by taking immediate health action: walk 30 minutes daily, eat a plant-based diet, reduce inflammatory foods, and prioritize quality sleep—this reduces long-term care costs while improving longevity.
• Set clear boundaries on financial support to adult children by establishing specific terms (duration, amount, conditions for repayment) rather than open-ended help, to protect your retirement security while maintaining family relationships.
• Create an 'ethical will' documenting your values, life lessons, and stories through video recordings or written legacy documents to pass to future generations—this is what heirs actually want more than money.
• Work with a financial advisor as a 'guide' for ongoing navigation rather than one-time transactions, since only 26% of Americans currently have an advisor and most feel unprepared for retirement despite understanding its importance.