When people think of retirement, they often envision the couple walking on the beach, sailing the sailboat, or playing golf. It is easy to picture the active part of retirement that is free of the stresses of work and career. However, with many retirees living as long as 30 years in retirement, the reality is that their retirement ends up having three phases: the go-go years, the slow-go years, and finally, the no-go years.
Most people do not think through advanced retirement, where they will live, and what it will cost in their 70s, 80s, and 90s. Housing is both a major financial asset on the balance sheet and a significant expense in the household budget. Housing may also be the largest expense component of retirement income; the time for planning is in advance of a major health event and before advanced age takes its toll. Where to live should be proactively thought through in advance of a health crisis, even if the intent is to “age in place” and remain in your home. Mobility limitations, a chronic illness or a catastrophic health crisis may give way to a housing move, reshape the best-laid plans, and disrupt your financial preparedness.
Susan Moore of Moore Wealth Management, Inc. (MWM) in Montgomery, AL, conducts a free workshop every year in May on planning for housing expense during retirement. Legg Mason produced the workshop in conjunction with the Johns Hopkins School of Nursing. Attendees receive a comprehensive set of worksheets that help them evaluate whether or not it is financially feasible to “age in place” and stay in their home the rest of their lives. What renovations would be required for them to remain in the home in the event that they had mobility limitations? They also receive worksheets that enable them to compare and contrast other options, including independent living, assisted living, and skilled nursing facilities, as well as continuing care retirement communities (CCRCs) that offer the entire spectrum of choices in one place. The May 2026 workshop will be conducted in an online webinar format on Wednesday, May 27th, at 12 p.m. Please call 334.270.1672 or email Sarah@moorewealthmanagement.com for more information and reservations.
We conduct a variety of workshops and seminars at MWM. The mission statement of MWM is very simple: “and then some.” We attempt to do what is expected, what is required, and then some.” The Planning for Retirement workshop is part of our monthly “and then some” workshops. In addition, MWM conducts daily current events market updates that attempt to explain what is going on in the financial world. If you would like to be on the mailing list or receive email notifications of upcoming webinars, please call 256.234.2761 or email Sarah@moorewealthmanagement.com.
Susan Clayton Moore, J.D., is a financial advisor and wealth manager of Moore Wealth Management, Inc., with offices Montgomery and Alexander City, AL. Susan has over $150 million in assets (as of 9.1.24) under management through Kestra Financial and has been a financial planner for over 40 years. Contact Susan at 256.234.2761. Email contact is susan@moorewealthmanagement.com.
The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney or tax advisor regarding your individual situation. Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Kestra IS or Kestra AS are not affiliated with Moore Wealth Management, Inc. https://www.kestrafinancial.com/disclosures