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During your working years, you know where your income is coming from because you’re working. But once you retire, you’ll have to identify your income sources, know how much you can expect from them and know how to manage them to help support a retirement that could last two or three decades.
So, where will your retirement income come from? And what decisions will you need to make about these income sources?
Consider the following:
• Retirement accounts
– If you’ve regularly contributed to an IRA and a 401(k) or similar
employer-sponsored retirement plan, you likely have accumulated substantial
amounts of money in these accounts — but during your retirement, you’ll need to
start tapping into them. In fact, once you turn 73, you’re required to start
taking withdrawals from some of your retirement accounts, with the amount
determined by your age and account balance. You could take out more than these
amounts (technically called required minimum distributions, or RMDs) but you
can’t take less without incurring penalties. Many people take out 4% of their
balance each year, and this guideline may be reasonable, but everyone’s
situation is different. So, you’ll need to weigh various factors including your
age, health and other sources of income before deciding on an appropriate
withdrawal rate.
• Social Security –
You can start collecting Social Security at age 62, but your payments will be
much higher if you wait until your full retirement age, which will be between
66 and 67. And your benefits will reach the maximum amount if you wait until 70
before collecting. So, your decision on when to take your benefits will depend
on whether you can afford to wait, and for how long. In making this choice,
you’ll also need to consider your health and your family history of longevity. And
if you’re married, you may want to factor in spousal benefits when deciding
when you should collect Social Security. A spouse can receive either their own
benefit, based on their work record, or up to 50% of their spouse’s benefit,
whichever is greater. So, if one spouse has a much higher benefit, it may make
sense for that spouse to delay taking Social Security as long as possible so
that both spouses can receive bigger payments.
• Earned income –
Even if you have retired from one career, it doesn’t mean you can never receive
any earned income again. If you have specific skills that can translate to
part-time work or a consulting arrangement, you might want to consider
reentering the work force in this way. With the added income, you might be able
to afford delaying Social Security, and you would still be eligible to
contribute to an IRA.
• Supplemental lifetime
income – There aren’t many guarantees in the financial and investment
worlds — but one of them is the income from a fixed annuity, which can be
structured to provide you with a lifetime income stream. Annuities aren’t for
everyone, however, and they do involve penalties for early withdrawals and lack
of protection from inflation.
By learning all you can
about your potential retirement income sources, and by understanding how to
manage this income to your best advantage, you can help yourself achieve a
comfortable — and more rewarding — retirement.
Chad Choate III, AAMS
828 3rd Avenue West
Bradenton, FL 34205
941-462-2445
chad.chaote@edwardjones.com
This article was written by Edward Jones
for use by your local Edward Jones Financial Advisor.
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As we age, our bodies change, and so do our nutritional needs. Meal plans for the elderly must adapt to these changes, focusing on quality ingredients that support energy, mobility, and overall health. With the right approach, meal planning can promote vitality and well-being in older adults. However, crafting these plans is not always simple. Several factorssuch as dietary restrictions, health conditions, and personal preferencesmust be considered. Here are five key tips to help create healthy and balanced meal plans for the elderly.Focus on Nutrient-Dense FoodsOlder adults often experience a decrease in appetite, so it is important that every meal counts. Focus on nutrient-dense foods that deliver maximum health benefits without overwhelming the digestive system. Choose lean proteins such as chicken, fish, and legumes. These ingredients help maintain muscle mass, which tends to decrease with age. Include vegetables like spinach, kale, and sweet potatoes, which are rich in vitamins and minerals essential for bone and immune health.Keep Meals Simple and Easy to PrepareAs mobility decreases, preparing meals can become a chore. Keeping meals simple and easy to prepare helps make sure that nutritious food is available even when energy levels are low. Choose meals that require minimal cooking or that can be prepared in bulk and stored for later. For example, dishes such as soups, casseroles, and stir-fries are ideal for making in large batches.Pay Attention to HydrationHydration is often overlooked but is just as important as food intake. Older adults are at higher risk of dehydration because their sense of thirst may decrease with age. Drinking water, herbal teas, or broth throughout the day can help maintain hydration. Avoid sugary beverages, which offer little nutritional value. Offering water-rich foods such as cucumbers, watermelon, and oranges can also be an easy way to increase fluid intake.Monitor Sodium and Sugar IntakeMany older adults face health conditions such as high blood pressure or diabetes, which require a careful balance of sodium and sugar. Limiting processed foods, which are often high in sodium, and reducing sugar intake can help prevent these issues from worsening. Instead, use herbs and spices for flavoring meals, and choose natural sweeteners like honey or fruit in moderation. By making these small adjustments, meal plans for the elderly can support heart health and help maintain stable blood sugar levels.Incorporate Variety and TextureOlder adults may experience a loss of appetite or trouble chewing, making it important to offer a variety of textures and flavors. Some elderly individuals may have dentures or other dental issues, so softer foods like mashed potatoes, soups, and stews are easier to enjoy. Mixing in crunchy elements like nuts or seeds, when possible, adds texture and makes the meal more enjoyable. Variety also prevents boredom and encourages a more balanced diet of different nutrients.A Thoughtful Approach to Meal PlanningMeal planning for the elderly involves more than just providing food; it is about creating an experience that enhances health and happiness. Our senior living team understands how important these factors are. With chef-prepared meals, varied dining options, and support for individual dietary needs, we help residents maintain a healthy lifestyle while enjoying every mealtime.
A consistent morning routine for seniors helps set a positive tone for the rest of the day. Older adults who begin each day with a structured plan are more likely to feel grounded and ready to take on daily tasks. Starting the morning with a predictable routine brings structure and helps reduce stress. It also fosters a sense of accomplishment and gives physical and mental benefits that can improve overall well-being. When a morning routine is in place, the elderly can begin their day with intention, making sure they are more prepared for the activities that follow.Physical Benefits of a Structured Morning RoutineOlder adults who engage in morning routines focused on health can experience noticeable improvements in physical well-being. Light exercises or stretches can increase flexibility and circulation. For instance, gentle movements like stretching or a brief walk in the morning can enhance joint mobility and blood flow. A consistent morning routine also promotes better sleep patterns, which are integral for maintaining energy levels throughout the day. In addition, eating a balanced breakfast boosts metabolism and maintains the energy necessary for daily tasks.Enhancing Mental Health Through RoutineMental clarity is often improved when older adults follow a routine each morning. A calm, predictable start to the day helps reduce anxiety. The simplicity of knowing what comes next can give a sense of comfort. Activities like journaling, reading, or even spending time outdoors allow elderly individuals to engage their minds in a purposeful way. Over time, this mental engagement can lead to better cognitive function and memory. The morning routine can also include socializing with loved ones or peers, which can reduce feelings of isolation and promote a sense of belonging.Emotional Stability and Sense of AccomplishmentA predictable routine nurtures emotional health by creating a sense of stability. For many older adults, the changes that come with aging can bring uncertainty. However, a structured morning routine helps to ease these concerns. When they engage in morning rituals, they often feel a sense of accomplishment. This achievement, even if small, can significantly improve self-esteem and self-worth. Starting the day with a sense of purpose reinforces emotional well-being and boosts confidence, making it easier to face the day ahead.Building Social Connections with a Morning RoutineA morning routine for seniors can also be an opportunity to connect with others. Joining group activities, having breakfast with friends, or participating in community events can make mornings more social and enjoyable. Interaction with others combats loneliness and enhances emotional well-being. It also encourages the elderly to stay active and engaged within their community. Being surrounded by familiar faces helps reinforce a sense of support, further improving the overall quality of life.How Senior Living Enhances Your Morning RoutineAs a senior living resident, older adults can enjoy a well-rounded, structured morning routine that supports both physical and mental well-being. With chef-prepared meals, scheduled activities, and opportunities for social interaction, residents can start each day with purpose. If your loved ones are looking to join group activities, engage in wellness programs, or enjoy a peaceful moment outdoors right on site, our community is committed to making each day fulfilling from the very start.
Loss of appetite in elderly adults is a challenge that many families face when their loved ones age. It is a condition that can result from physical, emotional, or mental factors. Often, a lack of interest in food or eating is overlooked, but it can lead to malnutrition and a decline in health. Assisted living communities are designed to help older adults regain their appetite by addressing the root causes of this issue in a compassionate and effective way.The Underlying Causes of Loss of Appetite in ElderlyLoss of appetite in elderly adults can stem from several factors, including changes in the digestive system, medications, or underlying medical conditions. For many elderly individuals, chronic illnesses such as arthritis, diabetes, or heart disease can decrease the desire to eat. Medications taken to manage these conditions can also alter taste or cause nausea, making food less appealing.Mental health is another contributing factor. Depression and anxiety are common among older adults and can suppress hunger. For some individuals, the loss of a loved one or changes in routine can cause emotional distress, which often affects their eating habits.How Assisted Living Addresses Loss of AppetiteIn an assisted living environment, professional caregivers and chefs are trained to deal with various eating issues among the elderly. They take a proactive approach by carefully observing each residents eating patterns. If an individual shows signs of loss of appetite, caregivers work with nutritionists to adjust meal plans that meet the individuals needs. For those with medical conditions that affect their digestion or taste, assisted living communities may offer specialized diets that cater to these needs.The Role of Socialization and Activity in Stimulating AppetiteIn assisted living, meals are often a social event. Sharing meals with others can stimulate a persons appetite and help them feel more motivated to eat. Community activities like group meals or cooking classes can also promote healthy eating habits and help residents engage with food in a positive way. Participating in meal preparation or simply sitting down with others at mealtimes can help foster a sense of community, which can naturally lead to improved eating habits.The Importance of Careful MonitoringIn an assisted living community, careful monitoring is a key factor in addressing loss of appetite. Caregivers regularly check on residents eating habits and make adjustments to make sure that they are getting the right nutrients. Tracking food intake and any changes in appetite helps caregivers spot potential health issues early.Nurturing Well-Being Through Thoughtful CareAs a senior living provider, we understand how loss of appetite in elderly people can impact both physical and emotional health. Our team is dedicated to recognizing the signs early and customizing care to meet each residents specific needs. With a focus on compassion and personalized attention, we help older adults rediscover the joys of dining while promoting overall well-being.A Thoughtful Approach to Senior HealthWe strive to offer a supportive environment where older adults receive personalized attention to address eating challenges. From specialized meal plans to a community-focused dining experience, our retirement community approach makes sure that each resident is cared for with the dignity and compassion they deserve.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Experience and BackgroundI am a financial advisor in Bradenton, FL, and began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals.As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that.Whether you're planning for retirement, saving for college for children or grandchildren, or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service.But we're not alone. Thousands of people and advanced technology support our office so that we can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals.I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program.I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.