My mom retired a little early from teaching when she was 59. I never thought I’d catch up to her. And here I am. I’m not retiring, however, but in so many ways, I’ve become my mom.
When I reflect on her choice to retire, I see how wise it was. My mom didn’t retire because she had to; she retired because she could. Having a pension provided her with the financial freedom to stop trading time for money. It was this foundation that let her live out her other passions—spending time with family and friends, traveling, watching her grandkids play sports and finally having time for herself. She traded time for joy, rather than just for a paycheck.
Today, traditional pensions are rare, but that doesn’t mean achieving financial security and freedom in retirement is out of reach. While fewer of us have employer pensions, we can build our own “personal pension.” With the right planning, guaranteed income sources, and protection strategies, we can create a retirement that not only funds our needs but frees us to do the things that light us up inside. It’s what I call a plan to be HappiHER, HealthiHER, and WealthiHER.
A significant body of research shows that people with a source of guaranteed income, like a pension or annuity, are happier in retirement. They also tend to live longer. The Journal of Financial Planning found that retirees with consistent income streams have lower rates of depression and stress, and the Institute for Social Research discovered that this financial security is linked to higher satisfaction, well-being, and even physical health. Simply put, the confidence of guaranteed income frees people to embrace life more fully.
Studies also show that retirees with guaranteed income are not only happier but also tend to live longer. Research from the Journal of Financial Planning found that retirees with consistent income streams, like a pension or annuity, experience a higher quality of life and have significantly lower rates of depression and stress. This stability in income is linked to improved mental and physical health, which can add years to their lives. Another study from the Institute for Social Research at the University of Michigan revealed that retirees with guaranteed income report higher life satisfaction and overall well-being, emphasizing the powerful connection between financial security, happiness, and longevity.
One of the strategies used for generating a guaranteed income for life and/or protecting your nest egg from things like volatility and sequence of return risk is annuities. I put together a new guide, Her Guide to Annuities. It’s designed to educate women all about annuities, the various types, provide a case study and some checklists to help women make more informed decisions. You can check it out at: Her Guide to Annuities – Her Retirement
As I look toward the years ahead, I think about what I want for myself and what I want my retirement to look like. Like my mom, I want the freedom to focus on what makes me happiest. And it’s not just about financial health—it’s also about being healthy enough to enjoy life to the fullest.
Are you ready to redefine what it means to be a woman closing in on those traditional retirement years? I’m here to tell you that age is no barrier to becoming the best version of yourself.
I’m 59, living in a small town next to a lake and a mountain where I can kayak, paddleboard, ski, hike, and enjoy the benefits of outdoor life. People often tell me I look 10-15 years younger than my age. How? I’ve mastered the art of physical fitness, and my body has changed little over 30 years.
But it wasn’t always smooth sailing. As I near 60, I’ve had to face down stereotypes about aging. I’ve noticed changes in my body and had to adjust my approach to fitness, health, and energy.
Sound familiar?
Here’s the truth: approaching 60 isn’t a negative experience. It’s an opportunity to embrace the beauty of aging, acknowledge the stories etched in every line, and assert that age doesn’t diminish your relevance, vitality, or style.
I’m on a mission to help women like you overcome challenges, unlock your full potential, and lead a life of fulfillment. Whether it’s about fitness, financial health, or finding your confidence, I’m here to guide you.
If you’re ready to start your journey, I’m putting together the finishing touches on my RetireTogether membership community and a 12-week Retirement Readiness Collaboration which will kick off in January. Let’s begin this conversation and collaboration together!
Reach out to me at: lynnt@herretirement.com to start your journey. Let’s Get Her Done.
Her Guide to Annuities: Her Guide to Annuities – Her Retirement