Five questions that could change how you see retirement
Long version
Saving for retirement is important, but it's only part of the picture. If you're within five to 10 years of your target retirement date, it's time to start thinking about what you actually want your retirement to look like. After all, getting to retirement isn't the end goal — it's what you want to do once you're there that matters.
Start by asking yourself these five questions.
When do you want to retire? The age at which you retire matters more than you may realize. Retiring early sounds appealing, but it means saving more and having less time to do it. It can also create gaps in health care coverage and income before key benefits kick in. For example, Social Security benefits can begin at 62, but at a reduced amount. Full benefits are available between ages 66 and 67, depending on birth year, and waiting until 70 means the maximum benefit. Medicare doesn't start until age 65, and penalty-free withdrawals from retirement accounts generally aren't allowed until age 59½.
For couples, timing gets even more complicated. Staggering retirement dates can sometimes maximize benefits; in other cases, retiring at the same time works better.
A financial advisor can help you sort through these decisions and find the approach that makes the most sense for your situation.
How do you want to spend your time in retirement? Many new retirees are surprised to find that having unlimited free time feels disorienting rather than freeing. Thinking ahead about how to fill the days with meaningful activity – whether that's travel, volunteering, pursuing hobbies or spending more time with family – can make the transition smoother.
It helps to sketch out what a typical week, month or even first year might look like. If there are big gaps, it's worth thinking now about what might fill them in rewarding ways.
Where do you want to live as a retiree? Some retirees stay put, while others downsize or relocate entirely. Either way, it's wise to consider whether a chosen location will work well as you get older, taking into account factors like proximity to family, access to health care, cost of living and climate.
What will your retirement lifestyle cost? It’s not uncommon for retirees to discover that their travel, entertainment or leisure expenses were higher than expected. The more active and involved you plan to be, the more you will likely need to budget.
Does your retirement involve giving back? Retirement often brings both the time and motivation to be more generous. Whether the goal is helping family members, donating to charity or volunteering in the community, it's worth defining those goals and building them into an overall plan.
Now that your vision is taking shape, turn it into a plan. Work with your financial advisor to align your savings with the life you want — and revisit that plan as your priorities evolve so your retirement keeps pace with you.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.
Edward Jones, Member SIPC
Number of words: 484
Short version (radio/print)
PSA: Five questions that could change how you see retirement
TBA: June 15, 2026
Retirement is about more than saving. It's also about knowing what you're saving for. If you're within five to ten years of retirement, now is the time to start building a plan around the life you actually want.
Ask yourself these five questions to help shape your retirement vision.
First: "When do you want to retire?" Timing affects your income, healthcare and Social Security benefits more than you may realize.
Second question: "How do you want to spend your days?" Meaningful activity can help make the transition smoother.
Third: "Where do you want to live?" You'll want to consider family, healthcare access and cost of living, among other factors.
The fourth question: "What will your retirement lifestyle cost?" The more active you are, the more you may need to add to your budget.
And finally, "Does your plan include giving back?" It might be to family, community or causes you care about.
Your answers are just the beginning. Work with your financial advisor to align your savings with the lifestyle you want. And revisit your plan as priorities evolve.
This content was provided by Edward Jones for use by (FA’s NAME), your Edward Jones financial advisor at (Branch address or phone#). Edward Jones, Member SIPC
Number of words: 155 (before name, address and disclaimers)