Your Money

Alicia Munnell, a retirement expert with decades of experience, has made several personal mistakes in her retirement planning that offer valuable lessons. One of her key regrets is taking her pension early when she transitioned from the Federal Reserve at age 50, reducing her monthly payments for the rest of her life. She also did not take advantage of moving funds from a traditional 401(k) to a Roth 401(k), resulting in higher taxes and unnecessary withdrawals in retirement. These decisions highlight the importance of thoughtful timing when accessing retirement funds and considering tax-efficient strategies, such as Roth accounts, to avoid future financial strain.

Another lesson from Munnell’s experience is the challenge of managing money, even for those deeply involved in the field. She admits to relying on her son for advice, underscoring how difficult retirement planning can be for the average person. Her missteps, such as using retirement savings for a child’s wedding, demonstrate the need for strict discipline in preserving retirement assets. Overall, Munnell’s reflections point to the importance of starting early, seeking advice, and maintaining flexibility in financial decisions to ensure a comfortable retirement.

She’s a Retirement Authority—and Still Made Mistakes. Here’s What She’d Do Differently.
by Anne Tergesen

Your Life

This is for the ladies. Urinary incontinence is when you leak urine by accident. You may think leaking a bit of urine when you laugh, cough, sneeze, or feel like you have to pee all the time is part of the aging process. Instead of seeking treatment for a leaky bladder, many women try to "deal with it" on their own by changing their exercise routines, trying Kegel exercises, and even wearing sanitary napkins to absorb bladder leaks. Half of women who have a leaky bladder never mention it to their doctors out of embarrassment or because they think bladder leaks are a normal part of the aging process. Getting older does increase the likelihood of experiencing bladder leaks, or making it worse, in part because muscles – including those in the pelvic floor – lose tone as we age. However, you don’t have to suffer through this. Bladder leaks aren’t a normal part of aging. Tell your doctor. After an initial evaluation with your healthcare provider, you’ll receive a treatment plan to follow at home. Recommended therapies for bladder leakage may include dietary changes, pelvic floor exercises and/or medication. Surgery is often a last resort for treating incontinence, but cure rates are about 85%.

Bladder Leaks Aren't A Normal Part of Aging
source: Franciscan Health

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