Your Money

The transition to retirement involves more than just financial adjustments. Beyond managing your wealth, you'll encounter lifestyle shifts and emotional changes. After six years of retirement, the author shares six valuable lessons from personal experience:

1. Retirement Is Complex: Each retirement journey is unique, yet common elements exist. Whether your retirement was planned or unexpected, navigating this new chapter involves addressing complex issues. Embrace the challenges that come with it.

2. Flexibility Matters: Be adaptable. Your retirement plan may evolve, and unexpected opportunities will arise. Stay open to change and adjust as needed.

3. Explore New Paths: Retirement isn't just about financial security. It’s an opportunity to pursue passions, try new things, and find meaning beyond work.

4. Priorities Shift: Initially, financial stability may be your primary focus. Over time, you’ll realize that it’s okay to spend more and enjoy life. Flexibility allows you to make the most of your retirement years.

5. Resilience Is Key: Retirement isn’t always smooth sailing. Cultivate resilience to face challenges, seek support when needed, and keep moving forward.

6. Retirement Can Be the Best Years: Embrace retirement as an incredible phase of life.

Whether you're entering retirement all at once or gradually through semi-retirement, take time to think beyond the usual "travel and spend more time with family" expectations. At PWM, we're here to help you navigate the "what-if" questions, providing peace of mind so you can make the most of every day.

6 Lessons From 6 Years of Retirement
by Fritz Gilbert

Your Life

There’s something so wonderfully nostalgic about smelling certain foods cooking or baking that takes me back to beloved memories. My daughter now wears my favorite perfume because it reminds her of me—especially now that she lives in her own home. The scientific community has studied the connections between smell, memory, and health for years. One of the first studies exploring the links between odor and memory was published in 1935.
 
Now in current times, scientists continue to make strides in understanding the connection and even harnessing it to improve health.  “It’s now clear that even though our sense of smell is not as robust as that of a mouse or bloodhound, it is deeply tied to our cognitive centers, our emotional centers, and our memory centers,” says Sandeep Robert Datta, a professor of neurobiology at Harvard Medical School. “We’re dependent on it for a sense of well-being and centeredness in the world.” Rachel Herz, a neuroscientist from Brown University, further extrapolates, “Smell can instantly trigger an emotional response along with a memory, and our emotional states have a very strong effect on our physical well-being.”

In addition to citing myriad studies that link smell-induced memories to mood improvement and stress reduction, Herz points to research showing that smells that evoke personal memories promote slower, deeper breathing than pleasant but more generic smells and linking odor-evoked memories to significant reductions in markers of inflammation. These beneficial effects may explain why the loss of olfaction — a condition called anosmia — can be damaging to mental health. “If we are suddenly denied our sense of smell, we feel adrift and confused about where we are in a way we didn’t expect,” says Datta. “We’re constantly being reminded about where we’ve been and where we are through our sense of smell.” Of course, not all smells evoke good memories. Certain smells can also trigger trauma for others who associate it with bad memories. My husband hates the smell of hospital antiseptic because it reminds him of his chemo treatments.
 
Scientists are still exploring whether scents might help spur lost recollections in people with dementia, ALZ and other conditions causing memory loss. While the concept of “reminiscence therapy” using smell is relatively new and untested, it’s already being used in some hospitals and care facilities.

The Connections Between Smell, Memory, and Health
by Molly McDonough

Complexity Simplified

I first saw an all-in-one washer-dryer combo during my trip to Scotland a few years ago. The concept seemed interesting and wonderful if it worked. Unfortunately, the one in our rental did not work so well. The washer part seemed to work, but the dryer never dried the clothes. Fast forward to today and one of my friends excited told me about the all-in-one washer-dryer combo she was recently gifted by her husband. She loves it, excitedly telling me that her laundry work is down to just putting it all in one machine. Dirty clothes come out cleaned and dried. There’s apparently even a laundry dispenser that you fill up once, and the machine dispenses what is needed. Perhaps the one in my rental was just old, or maybe the concept has improved so much in the last few years. So, I had to check it out. Here’s a recent article by Consumer Reports. The pros are that they are space-savers; you can still wash and dry separately; they’re efficient washers; and you don’t have to schedule your time around waiting for the washing to be done so you can put it in the dryer. The cons are that they can be pricey; drying times are much longer; drum capacities are limited; and you don’t have the ability to run another load of washing while the first load is drying. So, are they worth the purchase? For now, CR says that the combos are currently weighted down by poor drying scores, and they don’t really save overall laundry time. 

Pros and Cons of All-in-One Washer-Dryer Combos
by Keith Flamer

Trivia