MEN AND WOMEN AGREE: THE KEY TO A HAPPY RETIREMENT IS TO KEEP DOING WHAT YOU LOVE

Men and women agree that the best path to happiness in retirement is to be actively engaged in meaningful activities. The key is to stay busy doing things that you find joyful or rewarding. But when it comes to how they want to spend their time, men and women have different priorities, according to a major new survey from TIAA-CREF. For example, women are far more likely to want to connect with and spend time with family, while men are more likely to want to pursue favorite sports and continue working. What does this mean for a retired couple’s financial planning? Only that married couples who are both retired should make sure their retirement income is sufficient to pay for both spouses’ favored activities – which one shouldn’t assume are identical. Retirement savings can help, but ensuring guaranteed income for life may require a new retirement plan that includes financial products like annuities. Talk to your financial professional to learn more.