Daily Money - A Retirement Lesson From the GOAT

LeBron James on ‘one more yearism’
͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
No images? Click here
November 19, 2024
Retire with Money

I’m not a big basketball fan (I was raised in a household that essentially mandated a love of baseball instead). But on Thursday, the NBA’s all-time leading scorer and perennial all-star LeBron James said something that made my ears perk up. When asked how many years he has left in the tank, he replied, “I’m not playing until the wheels fall off.”

That got me thinking. Not because James turns 40 next month, and the average age of an NBA player is 26: He’s still near the top of his game, as evidenced by his gold medal performance at the Summer Olympics. Rather, it made me consider how many people work until their bodies just can’t take it anymore.

What’s left of us — physically — once we leave the workforce?

Data shows that although people ages 65 and older account for 18% of the population, they make up 36% of health care spending. The older we get, the more it costs to keep us ambulatory. So while a staggering number of Americans are worried that they won’t be financially prepared for retirement, those who are should also take into account that “just one more year” could mean sacrificing valuable time and health.

Hopefully, I’m still decades away from that decision. But when I get there, I want to be able to look at my retirement plan and know that I’ve done everything I could financially to feel confident in my choice to hang it up. At that age, the prospect of working until the wheels fall off should take a distant backseat to hiking with my wife, fishing with my grandkids or kayaking with my dog. And I’ll be grateful to my body for still allowing me to do those things.

— Jordan Chussler, investing and banking editor

P.S. If you got this newsletter from a friend, sign up here for email delivery to make sure you don't miss the next issue.

Stat of the Week: $30,000
Wealth
Money; Getty Images

Homeowners have gained nearly $150,000 in home equity since 2019 — which shakes out to about $30,000 per year. The massive gains are because of the rapid increase in home prices that started during the pandemic and continues today.

Money Move of the Week
Are you prepared for the unforeseen costs of retirement?
Old Singer

Most seniors will need some form of long-term care. However, the costs can be staggering, and traditional health insurance and Medicare often don’t cover these expenses. Long-term care insurance can provide a safety net for your family should you become disabled or chronically ill. By using insurance to pay for long-term care, you could help protect your assets, not deplete your savings, and leave an inheritance for your loved ones.

Check out Money’s list of top long-term care providers.

ADVERTISEMENT

 

Retirement 1, 2, 3
More Insights and Advice from Money
Interest Rates
While the Federal Reserve’s rate cuts should make it cheaper to borrow money, banks will be less willing to pay generous interest rates on your deposits.
Money; Getty Images

Savings
With inflation down, Series I savings bonds’ yields are falling in tandem. But the low-risk government bond remains an attractive choice for long-term savers.
Money; Getty Images

Food Costs
These three grocery chains are wielding their turkey carving knives in order to slash prices ahead of the holiday.
Money

Facebook
Twitter
Instagram
Youtube
LinkedIn
TikTok
Threads
This newsletter is free because Money earns a commission when you click or make purchases from the links in this email and on our site. We also receive compensation for some of the products and services featured in this message. Offers may be subject to change without notice. Learn more about how we make money.

Privacy PolicyAdvertise With UsWe're Hiring!

To stop receiving these emails, unsubscribe or manage your email preferences.

Copyright ©2024 Money Group, LLC. All rights reserved.

Metro Office Park Calle 1, Building 7 Suite 204, Guaynabo, Puerto Rico 00968, USA

Older messages

Prepare for a better future, starting today

Monday, November 18, 2024

Protect yourself and safeguard your financial well-being. Who's going to pay for your long term care? More than half of Americans over the age of 65 will require some form of long term care,

The holiday season is prime time for porch pirates

Sunday, November 17, 2024

And the perfect time for a new home security system Thwart would-be burglars with a smart home security system 'Tis the season to get ripped off, apparently. Relying on online retail for holiday

Get a Taste of Puerto Rico 🇵🇷

Saturday, November 16, 2024

Enter to win a chance to win a culinary adventure in San Juan. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

What do all these things have in common?

Friday, November 15, 2024

plus Neymar + kerning ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

How much house can you afford?

Friday, November 15, 2024

You could get preapproved in minutes ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

You Might Also Like

Is your Medicare coverage falling short?

Tuesday, December 3, 2024

This may be the perfect time to get a Medigap plan Explore all your Medigap options All Medigap plans cover certain costs, such as copayments, coinsurance, and deductibles that Medicare doesn't

The Grass Isn’t Always Greener

Tuesday, December 3, 2024

Transplants are learning tough lessons ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Missed Out? Here’s Your Final Opportunity to Join F.A.S.T Profits!

Tuesday, December 3, 2024

Last call ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Dirt-cheap toys imported into U.S. can be dangerous

Tuesday, December 3, 2024

If you're tempted to buy kids' toys at rock-bottom prices online this holiday season, consumer advocates want you to think twice — and maybe three times. View this email online Planet Money I

Adaptation is to mitigation what Robin is to Batman

Tuesday, December 3, 2024

Jenny Clark and Theresa Löber The UK's climate continues to change, getting wetter and warmer, with extremes becoming ever more pronounced. Even if we limit global warming to 1.5°C above pre-

🦾 OpenAI's big target

Monday, December 2, 2024

OpenAI is aiming for one billion users, China's manufacturing activity was up, and one intrepid cat | Finimize TOGETHER WITH Hi Reader, here's what you need to know for December 3rd in 3:14

Identity theft is more common than you might think

Monday, December 2, 2024

Three in 10 Americans were affected in 2023 ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

The One-Big-Side-Bet Model of Wealth Creation

Monday, December 2, 2024

Plus! Diff Jobs; Building Japan's Financial Ecosystem; The New Balance of Trade; Where Return on Investment Goes; Broken ETFs; Swipe Fees and Accounting The One-Big-Side-Bet Model of Wealth

This is not a Cyber Monday deal

Monday, December 2, 2024

But you have one month free of Ellevest. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌

Spring semester is approaching — are you ready?

Sunday, December 1, 2024

Invest in your career with a private student loan for grad school Your future starts today — apply for a private student loan Postgraduate studies can propel your career forward, helping unlock higher