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Americans have changed a lot over the last 100 years we live longer and have more active lives and our society and financial structures have evolved (and devolved).

However, many of our ideas about retirement and retirement planning come from previous generations. These ideas are ill suited to todays realities.

What Are the Rules of a NEW Retirement?

1. Retirement Planning for Everyone

We started NewRetirement.com to help our own parents and the millions of baby boomers and seniors like them to retire securely.

Our parents came to us for retirement planning help and we realized that a NEW Retirement was needed:

• Most people do not have the resources to hire a financial advisor
• Most financial advice is geared toward wealthy households, not the average retiree
• Retirement planning is a very complex and tremendously important endeavor

Our goals are to:

• Make retirement planning high quality information and resources available to everyone.
• Focuses on products and strategies for the Main Street retiree not just the super wealthy.

Recent research suggests that only about 20 percent of all households nearing retirement actually had a plan and that up to 65% of households are at risk of not being able to maintain their standard of living in retirement.

We hope that our information and tools can shift these trends and help you create a viable plan.

Use our articles, calculators and community to help create your own NEW Retirement.

The Retirement Calculator can

• Assess your existing plan
• Estimate when you will run out of money
• Help determine how much money you need
• Suggest ways to improve your plan
• And much more.

2. Retirement and Longevity Planning for Longer and Healthier Lives

Perhaps the best news of a NEW Retirement is that you are likely to live a significantly longer and healthier life than your own parents.

In the 1950s, people retiring at age 65 lived until 78. Todays retirees can expect an average lifespan of 83 or 84 years which means that half of you will live even much longer than that.

Your expanded lifespan means many things:

• That your retirement savings will need to last longer
• Your overall health-related costs will be higher now than ever before
• You will need to plan for different phases of retirement each with its own financial requirements

Use the Retirement Calculator to determine how long your savings

will last in retirement and much more.

3. Optimize Your Resources to Maximize Your Income and Protection from Risks

One of the key reasons that the very rich hire financial planners is that they can help optimize resources make small tradeoffs to dramatically improve the clients overall wealth and security.

Through education, innovation and access to retirement products and strategies, NewRetirement hopes to provide that same level of holistic planning to the average retiree.

Examples of small tradeoffs that make a big difference include:

• Delaying the start of their Social Security could mean an additional 30 percent in monthly income.
• Buying a lifetime annuity or long term care insurance may mean less total savings are required for retirement
• Working longer could be the difference between making ends meet and not

Use the NewRetirement Retirement Calculator to find out what little changes

could make a big difference to your plan

4. Guarantee Your Own Lifetime Income

One of the most important retirement planning rules of a NEW Retirement is to guarantee adequate monthly income to cover your monthly expenses no matter how long you live.

Guaranteed lifetime income is an income stream that can never run out no matter how long you live you continue to receive the same or a cost of living adjusted monthly amount.

Examples of guaranteed income include: Social Security, Annuities, Annuitized Reverse Mortgages and pensions.

Guaranteed lifetime income should be designed to protect your quality of life from:

• Outliving your assets
• Fluctuations in financial markets
• Inflation

Use the Retirement Calculator to determine your

guaranteed income needs

NEW Retirement.

5. Utilize Insurance Products to Hedge Risk

In the past, shorter lives meant (among other things) less risk to your retirement financial plan. Less could happen in a shorter period of time.

Without careful planning, todays longer retirement period and the increased complexity of our financial markets leave your retirement security subject to much more risk.

A NEW Retirement is a plan to help maintain your quality of life in the face of:

• Inflation
• Stock market fluctuations
• An unforeseen medical crisis
• Long term care needs

Some annuities, careful investments and long term care and other insurance products can protect you from the key risks

Use the NewRetirement Retirement Calculator to determine which insurance products

can help secure your retirement.

6. The New Retirement Age Work Past the Traditional Retirement Age

Retiring in your sixties is a relatively new phenomenon. For most of our history, people either worked until they died or until they physically could not labor any longer.

According to the Bureau of Labor Statistics, there has been an incredibly steep decline of over 65 year old men participating in the Labor Force.

• In 1880 78 percent of men over the age of 65 were working.
• In 2000 only 17.5 percent of men over the age of 65 were working.

While a NEW Retirement still stands for relaxed golden years. We believe that it is necessary for the average retiree to reconsider their own retirement target date. And for those already retired, it may be critically important to your financial well being to go back to work in some capacity.

And recent data suggests that this retiring later and working in retirement is indeed happening….

Find out when you might run out of money in retirement with the

7. Utilize Your Home Equity

From the 1990s through the 2000s, housing prices rose dramatically. If you owned a house near the beginning of this run up like many baby boomers your home equity probably grew tremendously.

This housing price appreciation is helping many baby boomers to make retirement viable. Home equity represents the biggest source of wealth for most households in or nearing retirement. This equity can in some cases make up for a lack of savings in your financial profile.

To use home equity for retirement expenses, retirees often consider downsizing, cash out refinancing and Reverse Mortgages.

However, retirees need to consider carefully how and when they tap their equity. In a NEW Retirement, retirees use their home equity to help make retirement work, but they do so carefully:

• Be holistic and comprehensive Look at all of your resources and goals and include home equity as part of a larger financial view.
• Promote flexibility Your plan needs to meet both your long and short-term retirement goals.
• Accommodate changes Financial, health and family needs and risks change as people grow older a Reverse Mortgage should be considered in light of how life might change.

Explore the impact of your home equity in the

8. Plan for Your Own Retirement and Also the Needs of Your Own Parents and Children

Another advantage of longer lives is that multiple generations are living and interacting with each other. Todays retirees often find themselves caring for themselves, their children and their own parents.

This can be a source of great financial complexity NEW Retirement plans often need to be intergenerational.

In many cases, a NEW Retirement leverages the needs and resources of overlapping generations.

Check your own preparations with the NewRetirement Calculator.