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Joe Lucey

Shopping Trends

At this time of year, many of us are shopping the post-holiday sales. But no matter what time of year it is, the way we buy things has changed dramatically over the last decade. Sure, there are those who still enjoy the rush of finding a great in-store deal, joining the throngs of shoppers during big sale days, and ducking in and out of stores and parking lots.

But for those who don’t, alternatives abound. These range from voicing an Amazon order through a tabletop Alexa device, shopping online on their computers or using their phones or tablets to make purchases.

Some people combine their retail and online shopping resources. A recent survey found that 43 percent of mobile shoppers of electronics buy products on their phones right inside a store after searching for a better price. And nearly 70 percent of shoppers say they want retailers to offer a variety of channels to buy a product, including in-store, online, or buying online and picking up in the store.

Another new trend embraces the idea that cherished experiences are more important than physical products. These may include concerts, weekend vacations or a spa day.

In fact, since 2005, spending in restaurants and bars has grown twice as fast as all other retail spending. Even more remarkable is that 2016 was the first year ever that Americans collectively spent more money dining out than on groceries.

Investors in an Aging Bull Market

Many investors who have participated in the eight-year bull market have done well. But those approaching retirement may wonder if it’s time to transition assets to more conservative holdings.

Here are factors to consider before making a decision about changing your portfolio: The U.S. economy and markets are still in good shape. U.S. stock valuations continue at above long-term averages, interest rates and unemployment are low and consumer confidence is high. It’s also important to remember that today’s 65-year-olds are statistically likely to live into their 80s.

Based on these factors, some investors with substantial financial resources and who are comfortable with leveraging market risk for longer-term financial goals may want to discuss with their financial advisor whether they should stay the course in their equity allocation even after they retire. Give us a call at (952) 460­-3260, and we’ll be happy to help you weigh the potential risks vs. rewards of your current strategy.

The content provided here is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice. Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

Improving Chronic Health of the Elderly

According to one researcher, people age 60 years and older tend to have a lower quality of life — which is ironic, considering we work hard so we can achieve financial independence by that time in our lives.

Recent developments in regenerative medicine are designed to help older people live a higher quality of life with less reliance on medical care. The idea is to transition away from medicine-based health care, in which we are diagnosed with a condition and take drugs for the rest of our life to manage its progression.

A new solution, proposed by scientists who specialize in regenerative medicine, is to personalize health care by solving problems at an early stage to help prevent the disease from deteriorating.

The Untapped Potential of Senior Innovations

Aging can be big business for companies that find ways to tap into it. People in the U.S. age 50 and up collectively spend as much as $7.1 trillion a year, and that amount is expected to double by 2020 as more people age.

However, there’s still a need for innovations that would help millions of Americans age more gracefully, more comfortably and, preferably, in place. There’s a big push right now to tap into the aging market to provide those goods and services.

Demographic experts believe the aging boom has created a transformational business opportunity that will permanently change the commercial landscape. This is because after baby boomers have entered retirement, they’ll eventually be followed by Generation X and then millennials — currently the largest demographic. Each of these generations is expected to live progressively and measurably longer than the one before. As such, there is a huge demand, and thus far a small supply of companies, focused on serving the needs of the oldest Americans, who yearn to live an enriched lifestyle in retirement.

The next generation of older adults doesn’t want to simply live longer; it wants to live better. The latest trends in aging studies innovation call for more focus on transportation, housing and fun – and less on pill reminder systems and home security systems.

One such innovation is the housing development plan for Margaritaville-themed retirement communities — the brainchild of singer-songwriter Jimmy Buffett, who himself is age 70. The idea is to update the tired old idea of retirement communities with a paradise-themed setting. The first two Buffett neighborhoods, complete with beachfront access, live entertainment, lap pools and spas, are planned for Daytona, Florida, and Hilton Head, South Carolina.

Another type of innovation involves generational engagement. A nursing home in Great Britain recently embarked on an experiment to place a preschool inside a nursing home, where children interact with elderly residents. The benefits were remarkable for both groups. Children enjoyed one-on-one attention while putting together puzzles, making crafts, drawing, singing and dancing. Retirees worked right alongside the children, enjoying the questions, the creativity, the small-hand coordination and the joy of engagement — including the gentle touch of just holding hands with little ones. Elderly participants showed improvements in alertness, social connection, physical mobility and mood.

Whether engaging with young folks or hanging out with peers, the challenge moving forward is on ways to improve the quality of life for millions of aging Americans. And with so much consumer money at stake, you can bet corporate America will find a way to do it.

Challenges and Perks of an Aging Population

The nice thing about growing older with such a large generation is there’s plenty of company. Whether in supermarkets, restaurants, fitness centers or recreation venues, it usually isn’t hard to find others nearby in their 60s, 70s, 80s and beyond.

In fact, there are now more people over age 60 than under age 15. So, you could say youth no longer rules.

However, this aging shift has yet to really transform the way we live. It needs to, and it will eventually, but for now, there are some growing pains. Traditions from the past, such as retiring in the early 60s, just may not make sense for the masses anymore. For one thing, we’re living longer. That means we either need to save more throughout our career to provide for a longer retirement, or we need to work longer so retirement isn’t so long.

Regular reassessments of health and long-term medical needs is also a must. Health care expenses and the number of aging Americans are increasing at the same time, which creates a need to deliver more care, to more people, and make treatment sustainably affordable.

Some may also need to re-evaluate where they live. In the mid-20th century, the suburbs grew to accommodate the rising number of young families. But suburbs rely on cars, and at a certain point, the older population will need more transportation options. We may need to create more urban spaces for mass housing that can accommodate elder needs, family compounds to house extended family members, or small, walkable villages devoted to elderly living.

We have a lot of needs that will require a shift in thinking that affects every aspect of society, including our institutions, economy, legislative policies, Social Security, Medicare and communities — which were all designed for an aging paradigm that no longer exists.

The American population has grown older — and will continue still. When you consider some of the possible changes that will bring about, it’s an exciting time to be alive.

New Year’s Resolutions

This is the time we start thinking about setting New Year’s resolutions for the coming year. However, consider for a moment that this tradition may be a bit shortsighted.

Did you know that J.K. Rowling created a detailed outline of all seven Harry Potter books before she began writing? And George Lucas envisioned at least six Star Wars movies before filming the first. The point is, success takes time – particularly financial success. It’s good to set goals each year, such as increasing the amount you invest and finding more ways to reduce expenses.

But ultimately, having a plan is what can help you work toward your financial success. If you haven’t developed a solid plan for your retirement income, or if you believe your plan needs to be revised or at least reviewed by an independent and knowledgeable financial professional, please give us a call. There are many ways to position assets to get them to work harder, to diversify future retirement income sources and to help mitigate the potential impact of market volatility and long-term inflation.

We’re happy to sit down with you to review your current plan or help you develop a new one. It’s good to have New Year’s resolutions to work on in 2018, but it’s more important to help ensure your incremental goals can lead to long-term success. That’s where we can help. As an independent financial services firm, we help people create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.  Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

Danielle Christensen

Paraplanner

Danielle is dedicated to serving clients to achieve their retirement goals. As a Paraplanner, Danielle helps the advisors with the administrative side of preparing and documenting meetings. She is a graduate of the College of St. Benedict, with a degree in Business Administration and began working with Secured Retirement in May of 2023.

Danielle is a lifelong Minnesotan and currently resides in Farmington with her boyfriend and their senior rescue pittie/American Bulldog mix, Tukka.  In her free time, Danielle enjoys attending concerts and traveling. She is also an avid fan of the Minnesota Wild and loves to be at as many games as possible during the season!