National Ice Cream Day is Sunday, July 19
I do not eat ice cream often, but I always look forward to enjoying a scoop on National Ice Cream Day. I may drive to Publix and buy a carton of salted caramel to share with my family. I might decide to stop by Baskin-Robbins and enjoy an ice cream cone. Or maybe I will head to Dairy Queen for a Blizzard.
How I get my ice cream is not a big decision at this stage in my life, but the MIT AgeLab considers it one of three questions that can help determine quality of life in retirement.
The question of how you will get ice cream encourages you to think ahead to a time when you may no longer be driving. When that happens, how will you get to the grocery store, the doctor’s office, or lunch with a friend? Will you rely on family members or friends for rides? Will you use Uber or Lyft? Or will you choose to live in a community that provides transportation services?
The second question the MIT AgeLab recommends asking is, “Who will change my light bulbs?” This question points to a future when you may no longer want to handle household chores such as cleaning, yard work, or home maintenance. Should your financial plan include additional expenses to pay for help around the house? Should you anticipate future renovations to make your home safer and more accessible, such as grab bars, railings, or ramps?
The third question is, “Who will I have lunch with?” Loneliness and social isolation are linked to a variety of health concerns, including cognitive decline. As a result, it is important to think about how you will stay connected to family, friends, neighbors, and your community throughout retirement.
Thinking through these questions ahead of time can help you better visualize your retirement years and make more informed decisions today.
After all, retirement is about much more than money. It’s also about maintaining independence, staying connected, and preserving the quality of life that allows you to enjoy something as simple as an ice cream cone on a summer afternoon.
This is intended for informational purposes only. You should not assume that any discussion or information contained in this document serves as the receipt of, or as a substitute for, personalized investment advice from Savant. Please consult your investment professional regarding your unique situation.
Patti B. Black
Financial Advisor
CFP®, CSA®