Is it true that you need $1 million dollars to retire? Nationally renowned financial gerontologist, Dr. John N. Migliaccio, PhD shares fascinating facts about how far your retirement dollars can go in Wichita and the surrounding areas.

Empowering Seniors – Planning Your Retirement

Financial gerontology is a multidisciplinary field of study encompassing both academic and professional education. It integrates research on aging and human development with the concerns of finance and business. (Financial gerontology. Wikipedia, 14 January 2021 en.wikipedia.org/wiki/Financial_gerontology). John N Migliaccio, PhD, Dir. Of Research and Gerontology at MetLife Mature shares with us the importance of taking a look at our retirement. Further, what it is going to be. Making sure we collect all the components. Figure out what we are going to build for retirement. You might be thinking, when is it appropriate to start talking about these things with your spouse or family? In short, thoughts and discussions with family or a trusted professional is something we should have been talking about yesterday. Financial issues are family issues.

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Baby boomers are in line to inherit the largest intergenerational transfer of money in history. Educating and empowering seniors on the overwhelming issues they face and that their adult children face is important. Figuring out what you’re going to do to accommodate yourself during retirement. These goes hand and hand with making sure you will have enough resources. Family discussions are ongoing. Furthermore, they can help educate everyone. Most importantly, those that are stepping forward and taking charge and providing guidance.

It’s a challenge to create a balance between the ideas of what you really want and between what is actually realistic. Focus on keeping the conversation open and being flexible. As a result this will help with the idea of change. Most importantly, the goal is to be prepared for the future.

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