Why retirement planning should include mental fitness

.

Are You Men­tal­ly Fit Enough to Plan for Retire­ment? (Mon­ey):

“In this era of “self-direct­ed” retire­ment (no pen­sions, you make all the invest­ment choic­es) post­pon­ing mak­ing a real plan pos­es a par­tic­u­lar risk to future secu­ri­ty. Not only are the logis­tics of plan­ning hard enough—when to col­lect Social Secu­ri­ty, how to bud­get for expens­es, what to do with savings—but the decline in cog­ni­tion that accom­pa­nies nor­mal aging has a mea­sur­able neg­a­tive impact on the abil­i­ty to make sound finan­cial decisions…

Just because you have debt does not in and of itself mean you’re in finan­cial dan­ger. Nor does grow­ing old­er auto­mat­i­cal­ly throw you into the kind of cog­ni­tive decline that could seri­ous­ly impair your finan­cial deci­sion-mak­ing. But now that indi­vid­u­als are ful­ly respon­si­ble for their own retire­ment secu­ri­ty, part of that respon­si­bil­i­ty must cer­tain­ly include the pos­si­bil­i­ty that time may leave you less rather than more equipped to make the right decisions.”

Learn more:

• What are cog­ni­tive abil­i­ties, and how to boost them?
• The Sharp­Brains Guide to Brain Fit­ness: How to Opti­mize Brain Health and Per­for­mance at Any Age