Getting the Most Out of Middle Retirement

Settling Down

After age 70, a fulfilling new phase of retirement begins. Between 70 and 80, all middle retirees are enjoying Social Security benefits, since the longest you can defer these payments is age 70. 

Seniors in their 70s may also start taking required minimum distributions from retirement accounts like 401(k)s, Roth 401(k)s, 403(b)s and more. 

During middle retirement, it’s good to assess your investment strategy — balancing risks and rewards with your future goals. Many investment companies offer target-date funds designed to grow assets over a certain number of years in order to reach specific, targeted goals.


More Money, Less Travel

As you start receiving more income due to Social Security, you may find yourself a bit traveled out. Your health and mobility may not be what they were a decade before, when you were ready to travel the world. 

This sense of exploration and discovery may give way to a quieter life where you embrace only the things you really love — enjoying your favorite activities and spending time with those you love most.

During middle retirement, expenses may decrease as you start to reorient your travel around visiting family and grandkids. Americans who are 75 and older spend 23 percent less than those aged 65 to 74. Much of this is due to downsizing and spending 35 percent less on travel expenses.

Putting a Plan in Place

Middle retirement is also an ideal time to review your will and estate-planning documents — making sure your money and assets will be distributed correctly after you pass away.

Depending on your circumstances, you may want to have a legal professional draw up documents designating your financial power of attorney and healthcare power of attorney.


Joining in the Journey

Regardless of where you are along the path, being proactive about your finances can lead to more confidence and enjoyment during your retired years.

Retirement is a highly personalized adventure, and Brookdale is here to help you enjoy the journey — from early to late retirement, and anywhere in between. For more information about life at Brookdale, reach out to a Brookdale representative today.

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