30 minutes | Oct 29, 2020

How will the pandemic change financial planning?

This week on the podcast, we take a look at how financial planning for retirement may change as a result of the pandemic. I invited Christine Benz of Morningstar to join me for this discussion after she published a thought-provoking essay on this question on the Morningstar website. Christine is Morningstar’s director of personal finance, and she is one of the country’s top researchers and writers on personal finance and planning. From her vantage point at Morningstar, she has access to a wealth of top-notch analysis, research and data on investing, saving and other aspects of planning. Christine thinks the pandemic has produced a sudden - and significant - shift in how individuals think about spending and saving goals, the possibility of an unplanned early retirement, setting aside liquid emergency funds, paying for health care and dealing with the current low yield environment for fixed income investments.Listen to the podcast by clicking the player icon at the top of the page. The podcast also can be found on Apple Podcasts, Spotify and Stitcher.This week on the podcast, we take a look at how financial planning for retirement may change as a result of the pandemic. I invited Christine Benz of Morningstar to join me for this discussion after she published a thought-provoking essay on this question on the Morningstar website. Christine is Morningstar’s director of personal finance, and she is one of the country’s top researchers and writers on personal finance and planning. From her vantage point at Morningstar, she has access to a wealth of top-notch analysis, research and data on investing, saving and other aspects of planning. Christine thinks the pandemic has produced a sudden - and significant - shift in how individuals think about spending and saving goals, the possibility of an unplanned early retirement, setting aside liquid emergency funds, paying for health care and dealing with the current low yield environment for fixed income investments.Listen to the podcast by clicking the player icon at the top of the page. The podcast also can be found on Apple Podcasts, Spotify and Stitcher.Not a subscriber yet? Take advantage of a special offerSign up now for the free or subscriber edition of the newsletter, and I’ll email a copy of my latest retirement guide to you. This one looks at dealing with the Social Security Administration during the COVID19 crisis. Customer service at the Social Security Administration has changed during the coronavirus crisis - the agency closed its network of more than 1,200 field offices to the public in March. Just a reminder- subscribers receive the full edition of the newsletter (the free version is abridged), and they have access to the entire series of guides at any time. Click on the little green button to subscribe, or go here to learn more.Older volunteers forge new pathways in the pandemicVolunteers are the lifeblood of nonprofit organizations, but the pandemic has created major barriers to participation, especially for older people, who face a higher risk of serious illness or death if they contract the coronavirus. As a result, nonprofit organizations and volunteers are grappling with the challenge of finding new, safe ways to engage with older volunteers. Learn more in my latest story for The New York Times. Be sure to check out the comments on the story, available via a link at the bottom of the article if you are viewing it in a web browser and logged on to the site.The story is part of a broader section on retirement that the Times published online this month - you'll find several other interesting stories on topics like entrepreneurship in retirement, where retirement is headed in the pandemic and more.Open enrollment: Original Medicare or Advantage?Medicare’s open enrollment season is underway, and a key decision point is whether to use Original Medicare or Medicare Advantage. Premium newsletter subscribers can review my guide to choosing between Original Medicare and Medicare Advantage here. Get on the email list at retirementrevised.substack.com
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