Apprise’s Five Favorite Reads for the Week of October 30, 2022

five favorite reads spending saving
Our five favorite reads from the past two weeks. Articles include: A surprising aspect of retirement, tips for safe travels, and more!

Through Friday’s close, October has been much kinder to investors than September. While some technology companies have reported disappointing results, earnings season has generally gone well so far. Plus, we got our first take on third-quarter GDP. The quarter’s annual growth of 2.6%, represented a sharp turnaround following six months of contraction. The result at least temporarily allayed recession fears. Over October’s last two full weeks, the S&P 500 Index gained nearly 9%. That represents the market benchmark’s best two-week performance so far this year.


Somewhat surprisingly, many retirees find it difficult to spend their hard-earned money once they retire. This week’s first article shares some tips that can help you better prepare for the shift from saver to spender.

Here are the links to this week’s articles as well as a brief description of each:

1. A Surprisingly Hard Part of Retirement: Spending What You Worked so Hard to Save.

When you retire, you need to make a big psychological shift in your thinking. One of the steps you take to prepare for retirement is building a nest egg. In other words, you save money. But when you retire, you shift from being a saver to being a spender. You build a balance in your retirement accounts. In retirement, you spend it down. Some people struggle mightily with that change. Retirement comes with significant elements of uncertainty, too. You don’t know how long you will live or how healthy you will be. You also can’t depend on the market to provide you with steady returns.

As always, you can take some steps to better prepare for this shift. Think about the purpose of your money. It can be a tool that allows you to do what you want and avoid what you don’t want. Consider creating a budget. Don’t forget about one-time outlays either. Do you plan on taking a major vacation? What about helping to pay for a child’s wedding? These represent important elements of your financial plan. It also helps to build a cash bucket that can cover 18-24 months of expenses. That can help keep you from selling assets at depressed prices during a bear market. These are all things I discuss with clients when building financial plans and managing portfolios. If you have questions, please schedule a free strategy session.

2. 7 Habits to Reduce Your Risk of Stroke.

Does your family history put you at a greater risk of having a stroke? If it does – or even if it doesn’t – making some healthy lifestyle choices can reduce the chances that you experience one. Maintaining good cardiovascular health can meaningfully lower your risk of stroke. The article addresses the benefits of following Life’s Simple 7, or the American Heart Association’s (AHA) prescription for heart health. The AHA recently added sleep as an eighth essential component of heart health. Regardless of your genetic risk profile, according to the AHA, following Life’s Simple 7 can reduce your risk of stroke by 30%-43% compared to those who do not adhere to these behaviors. Check the article to learn more. It also includes some simple ways to spot signs of strokes as they’re happening.

3. Delaying Your Social Security Has Rarely Been This Profitable.

Delaying the start of Social Security benefits should allow you to earn more money in retirement. As discussed in this blog, you can wait as late as age 70 to start claiming your benefits. The longer you wait, the bigger your benefit gets. For example, your benefit grows by 8% per year from full retirement age – 67 for those born in 1960 or later – until age 70. This year waiting got even more beneficial. Why? Even if you don’t collect benefits, the cost-of-living adjustment (COLA) still gets factored into your future payments. This year’s COLA is 8.7%. Even better, the COLA gets compounded into the amount you receive in the future.

4. Tips for Safe Travel.

Virtually every client I work with or prospect I talk to wants to include some travel as part of their financial plan. Some only want to travel domestically. Most want to travel internationally as well. When traveling outside the country, you should take additional steps to stay safe. This article shares 10 suggestions for those traveling outside our borders. Many of these tips apply if you’re traveling within the US, too. The reminders such as separating your credit cards and IDs make considerable sense.

5. The Financial Perks of Growing Older.

Aging certainly brings problems. It can give us wrinkles, gray hair, hearing loss, and general aches and pains. Fortunately, it also comes with some perks. If you’re age 50 or older, there also are many benefits you can take advantage of. Check the article to learn more about some of the financial benefits of getting older. They include the following:

  • Senior discounts
  • Travel deals
  • Bigger retirement account limits
  • No more early withdrawal penalty
  • Social security payments
  • Affordable health insurance
  • Senior services
  • Free college

Our practice continues to benefit from referrals from our clients and friends. Thank you for your trust and confidence.

We hope you find the above articles valuable. We would be happy to address any follow-up questions you have. You can complete our contact form if you would like to talk to us about financial topics, including your investments, creating a financial plan, saving for college, or saving for retirement. Once you do that, we will be in touch. You can also schedule a call or a virtual meeting via Zoom.

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