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News News Feature

Why Planning for Retirement Is About More Than Money

As you plan for retirement, it’s important to focus on having enough assets to live the life you want. Money and assets are just tools we use to express personal values and highlight what we view as important.

In the years leading up to retirement (or at any stage of life), be sure to focus on the things that will bring you joy, meaning, and fulfillment throughout the next chapter of life.

Health

You may have scrimped, saved, and invested your entire adult life to prepare for retirement, but what does it matter if you’re not healthy enough to enjoy your golden years? As you plan for your financial future, don’t forget to take care of your physical health.

Not only can a healthy lifestyle lead to a more fulfilling retirement but it can also help lower your retirement healthcare expenses and free up more money for enjoyable experiences. As an added potential benefit, your fitness journey may even lead to new hobbies as you transition into your retirement years.

Friends

It can be difficult to transition from the workforce, where you’re constantly surrounded by people, to a relatively solitary life. Social isolation can lead to multiple emotional and health-related issues, including depression, anxiety, and dementia. Even if you have a spouse to keep you company, you may benefit from spending time with friends outside your home.

In the years leading up to retirement, it’s important to start developing friendships with others. Consider seeking companionship through common interests. Perhaps you enjoy golfing, volunteering, or painting. Make an effort to connect with other people you encounter in these settings, and work to build some friendships prior to retiring.

Hobbies

Speaking of interests, retirees often find fulfillment by participating in hobbies. Have you always wanted to take up golf? Write a book? Try your hand at pickleball? Learn to throw a ceramic pot? Retirement is the time to do it! Don’t be afraid to put yourself out there and try something new. As you begin to explore new hobbies, try lots of new things and experiences — but don’t be afraid to quit quickly and try something new!

Purpose

Few retirees are done pursuing their goals after they leave the workforce. In fact, those who are most satisfied in retirement continue to have a clear sense of purpose in their lives — a mission that guides their actions. While it’s important to relax and have fun in retirement, it’s also important to find a sense of purpose and continue finding meaning in your daily life.

You may find purpose by continuing to work in retirement. Or perhaps you’re driven to volunteer with an organization that’s near and dear to your heart. Maybe your purpose comes from spending time with loved ones, caring for relatives, or teaching your grandchildren special skills.

It can be helpful to write down your purpose and view each action through the lens of “does this help me move toward my purpose or away from it?” You might be surprised how many decisions you make out of inertia or neglect and not in pursuit of your purpose!

Gratitude

Practicing gratitude can have a big impact on both your physical and emotional health. The benefits of gratitude include:

• Lower stress

• Improved sleep

• Lower blood pressure

• A stronger immune system

• An improved ability to identify and regulate emotions

• Higher emotional intelligence

• More positive feelings

• Better connections with others

To find more fulfillment in retirement, make an effort to regularly reflect on the people and things you’re grateful for. Be grateful for small things, such as the sun shining on your face, as well as big things, like the birth of a new grandchild. Taking time to recognize and appreciate the things that bring you joy can lead to a happier and more fulfilling life at any stage in your journey.

Gene Gard, CFA, CFP, CFT-I, is a Partner and Private Wealth Manager with Creative Planning. Creative Planning is one of the nation’s largest Registered Investment Advisory firms providing comprehensive wealth management services to ensure all elements of a client’s financial life are working together, including investments, taxes, estate planning, and risk management. For more information or to request a free, no-obligation consultation, visit CreativePlanning.com.

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Astrology Fun Stuff

Free Will Astrology: Week of 07/13/23

ARIES (March 21-April 19): Many astrologers enjoy meditating on the heavenly body Chiron. With an orbit between Saturn and Uranus, it is an anomalous object that has qualities of both a comet and a minor planet. Its name is derived from a character in ancient Greek myth: the wisest teacher and healer of all the centaurs. Chiron is now in the sign of Aries and will be there for a while. Let’s invoke its symbolic power to inspire two quests in the coming months: 1. Seek a teacher who excites your love of life. 2. Seek a healer who alleviates any hurts that interfere with your love of life.

TAURUS (April 20-May 20): It’s high time for some high culture! You are in a phase to get rich benefits from reading Shakespeare, listening to Beethoven, and enjoying paintings by Matisse and Picasso. You’d also benefit lavishly from communing with the work of virtuosos like Mozart, Michelangelo, and novelist Haruki Murakami. However, I think you would garner even greater emotional treasures from reading Virginia Woolf, listening to Janelle Monáe’s music, and enjoying Georgia O’Keeffe’s paintings. For extra credit, get cozy with the books of Simone Weil, listen to Patti Smith’s music, and see Frida Kahlo’s art. If you read between the lines here, you understand I’m telling you that the most excellent thing to do for your mental and spiritual health is to commune with brilliant women artists, writers, and musicians.

GEMINI (May 21-June 20): The French phrase j’ajoute (translated as “I adjust”) is a chess term used when a player is about to adjust their pieces but does not yet intend to make a move. J’ajoute might be an apt motto for you to invoke in the coming days. You are not ready to make major shifts in the way you play the games you’re involved in. But it’s an excellent time to meditate on that prospect. You will gain clarity and refine your perspective if you tinker with and rearrange the overall look and feel of things.

CANCER (June 21-July 22): The Simpsons animated show has been on TV for 34 seasons. Ten-year-old Bart Simpson is one of the stars. He is a mischievous rascal who’s ingenious in defying authority. Sometimes teachers catch him in his rebellious acts and punish him by making him write apologetic affirmations on the classroom blackboard. For example: “I will not strut around like I own the place. I will not obey the voices in my head. I will not express my feelings through chaos. I will not trade pants with others. I will not instigate revolution. I am not deliciously saucy. I cannot absolve sins. Hot dogs are not bookmarks.” In accordance with your unruly astrological omens, Cancerian, I authorize you to do things Bart said he wouldn’t do. You have a license to be deliciously saucy.

LEO (July 23-Aug. 22): Early in her career, Leo actor Lisa Kudrow endured disappointments. She auditioned for the TV show Saturday Night Live but wasn’t chosen. She was cast as a main character in the TV show Frasier but was replaced during the filming of the pilot episode. A few months later, though, she landed a key role in the new TV show Friends. In retrospect, she was glad she got fired from Frasier so she could be available for Friends. Frasier was popular, but Friends was a super hit. Kudrow won numerous awards for her work on the show and rode her fame to a successful film career. Will there be a Frasier moment for you in the coming months, dear Leo? That’s what I suspect. So keep the faith.

VIRGO (Aug. 23-Sept. 22): The coming weeks will be a good time to seek helpful clues and guidance from your nightly dreams. Take steps to remember them — maybe keep a pen and notebook next to your bed. Here are a few possible dream scenes and their meanings. 1. A dream of planting a tree means you’re primed to begin a project that will grow for years. 2. A dream of riding in a spaceship suggests you yearn to make your future come more alive in your life. 3. A dream of taking a long trip or standing on a mountaintop may signify you’re ready to come to new conclusions about your life story. (PS: Even if you don’t have these specific dreams, the interpretations I offered are still apt.)

LIBRA (Sept. 23-Oct. 22): In reviewing the life work of neurologist and author Oliver Sacks, critic Patricia Holt said he marveled at how “average people not only adapt to injury and disease but also create something transcendent out of a condition others call disability.” Sacks specialized in collaborating with neurological patients who used their seeming debilitations “to uncover otherwise unknown resources and create lives of originality and innovation.” I bring this up, Libra, because I suspect that in the coming months, you will have extra power to turn your apparent weaknesses or liabilities into assets.

SCORPIO (Oct. 23-Nov. 21): It’s a mistake to believe we must ration our love as if we only have so much to offer. The fact is, the more love we give, the more we have available to give. As we tap into our deepest source of generosity, we discover we have greater reserves of it than we imagined. What I’ve just said is always true, but it’s especially apropos for you right now. You are in a phase when you can dramatically expand your understanding of how many blessings you have to dole out.

SAGITTARIUS (Nov. 22-Dec. 21): Home computers didn’t become common until the 1980s. During the previous decade, small start-up companies with adventurous experimenters did the grunt work that made the digital revolution possible. Many early adapters worked out of garages in the Silicon Valley area of Northern California. They preferred to devote their modest resources to the actual work rather than to fancy labs. I suspect the coming months will invite you to do something similar, Sagittarius: to be discerning about how you allocate your resources as you plan and implement your vigorous transformations.

CAPRICORN (Dec. 22-Jan. 19): I’m tempted to call this upcoming chapter of your life story “The Partial Conquest of Loneliness.” Other good titles might be “Restoration of Degraded Treasure” or “Turning a Confusing Triumph into a Gratifying One” or “Replacing a Mediocre Kind of Strength with the Right Kind.” Can you guess that I foresee an exciting and productive time for you in the coming weeks? To best prepare, drop as many expectations and assumptions as you can so you will be fully available for the novel and sometimes surprising opportunities. Life will offer you fresh perspectives.

AQUARIUS (Jan. 20-Feb. 18): By 1582, the inexact old Julian calendar used by the Western world for 13 centuries was out of whack because it had no leap years. The spring equinox was occurring too early, on March 10. Pope Gregory commissioned scientists who devised a more accurate way to account for the passage of time. The problem was that the new calendar needed a modification that required the day after October 4 to be October 15. Eleven days went missing — permanently. People were resentful and resistant, though eventually all of Europe made the conversion. In that spirit, Aquarius, I ask you to consider an adjustment that requires a shift in habits. It may be inconvenient at first, but will ultimately be good for you.

PISCES (Feb. 19-March 20): Piscean novelist Peter De Vries wrote, “Sometimes I write drunk and revise sober, and sometimes I write sober and revise drunk. But you have to have both elements in creation — the Apollonian and the Dionysian, or spontaneity and restraint, emotion and discipline.” In the coming weeks, you Pisces folks will be skilled at weaving these modes as you practice what you love to do. You’ll be a master of cultivating dynamic balance, a wizard of blending creativity and organization, a productive change-maker who fosters both structure and morale.

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Opinion Viewpoint

Mishap Match-ups

Memphis ought to get a patent on black-white partnerships that go bad.

When such marriages are made in the name of minority participation, some people more idealistic than I am see harmony, justice, and the way forward. I see politicians morphing into consultants, influence about to be monetized, promising careers derailed, and indictments waiting to happen.

Wanda Halbert and Bruce Thompson are the latest in a long list of ebony-and-ivory combos. Going back only 20 years, other mishap match-ups include “Speedy” Murrell and Charles McVean; Harold Ford Sr. and C.H. Butcher Jr.; Willie Herenton and MLGW bond underwriters; Tim Willis and NBA Now; John Ford and TennCare contractors; and Edmund Ford, Rickey Peete, and Joe Cooper.

In 2004, Thompson, a white Shelby County commissioner, and Halbert, a black Memphis school board member, teamed up to help a Jackson, Tennessee, contractor who was bidding on a school construction project. The script was familiar: Contractor needs minority participation to get votes. Commissioner plays consultant. Board member gets “campaign contribution.” FBI smells payoff. Halbert gets called before federal grand jury. And Thompson gets bad publicity and hires defense attorney Leslie Ballin.

Halbert and Thompson were both protégés of former school board powerhouse Sara Lewis. Halbert was an energetic and ambitious young school board member. Thompson was a fresh political face from the business world, representing East Memphis. Lewis ran Shelby County’s Head Start operation from 1998 to 2000, and Thompson was on the board. What looked like a promising mix of young and old and black and white has become, instead, the latest public scandal.

Memphians have seen this movie before.

In 1987, businessman McVean was pushing state legislation and a local referendum to legalize horseracing. He befriended liquor-store owner and political wheeler-dealer J.P. “Speedy” Murrell to gin up black voter support. The legislation and referendum passed, but McVean got indicted, and although his case ended with a hung jury, horseracing in Memphis was dead.

In 1990, then-Congressman Harold Ford was tried in federal court on corruption charges tied to Butcher, an East Tennessee banker. Butcher and his partners owned land on Mud Island. According to the government, Ford helped get the bridge to Mud Island built as a favor to Butcher and his friends. Ford’s first trial ended in a mistrial, and his second trial ended with his acquittal.

In 2002, Herenton got tired of seeing MLGW send most of its lucrative bond underwriting business to New York. He made a clumsy pitch for keeping more of it in Memphis and Little Rock, where black lawyers could get more of the action. According to Herenton, his complaint sparked a grand jury investigation targeting him.

Also in 2002, ex-con and self-styled consultant Willis was hired as the minority partner to help sell the NBA to Memphis. The campaign succeeded, but Willis made history for something else. In 2003 he began working with federal agents looking at corruption in Shelby County Juvenile Court, where Willis had some contracts. The FBI broadened its investigation to Nashville, and Willis became the star undercover operative for E-Cycle Management. Among those he helped snare were “consultants” John Ford, Roscoe Dixon, and Kathryn Bowers. All three black lawmakers were fooled by the FBI’s fake black-white management team and the promise of big money.

John Ford was already making more than $800,000 as a consultant for TennCare contractors Doral Dental and United American HealthCare. What could he deliver for those Midwestern companies? Votes, customers, and state contracts, of course.

In 2006, city councilmen Edmund Ford and Rickey Peete got into the game. Their white benefactor was lobbyist Joe Cooper, who represented billboard owner William Thomas on a zoning matter before the council. Cooper got nailed in another case, started cooperating with the feds, and Peete and Ford got indicted.

Minority participation was supposed to share the wealth in a town that was rigged to the benefit of white businesses. Instead it has become a rationale for biracial greed, cynicism, and corruption.

John Branston is a Flyer senior editor.