As another NFL season draws near, a veteran running back has elected to hang up his cleats.

Longtime running back Kenyan Drake is retiring from the NFL, he announced in a Friday afternoon Instagram post.

"Hard to believe eight seasons have come and gone. Ive loved the journeythe wins, the moments big and small, the comradery, the energy, all of it," Drake wrote. "Ready to enjoy a little retirement and see where the next chapter takes me. Thanks to everyone that was along for the ride with me."

Drake, 30, split his eight-year career between the Miami Dolphins, the Arizona Cardinals, the Las Vegas Raiders, the Baltimore Ravens and the Green Bay Packers.

He rushed for 3,866 yards and 33 touchdowns, both of which ranked in the top 25 among active players. In 2023, he played just three games, failing to gain a yard for either the Ravens or Packers.

As a collegian, Drake won national championships with Alabama in 2012 and '15.

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Veteran Running Back Kenyan Drake Announces Retirement After Eight Seasons - Sports Illustrated

Scariest moment of my entire life. That's the best way. Natasha Long says she can describe the jolt of fear that filled her body. When her 11 week old son, Miles stopped breathing in this Taco Bell parking lot in Rich last Saturday, the mother of two had just finished some errands and decided to grab food. When she says she noticed baby Miles struggling for air in the back seat of the car. I pulled him out and he turned completely blue and was lifeless. And at that point, I just completely blacked out. I didn't know what to do. Fortunately long was an air shot of Taco Bell manager Becky Arbaugh who heard long screams and quickly jumped in giving baby miles CPR. As seen in this security video, I threw my headset. I ran outside. So I took the baby and I started to do chest compressions on the baby and then he finally started to breathe. L says she appeared out of nowhere like *** guardian angel, but Arbon says her own skies as *** mother helped her prepare for *** moment just like this. When my kids were little, my daughter had similar incidents. So I knew what she was feeling. So I knew if I just kept her calm and I stayed calm, then I'd be, there was no thought in my mind that the baby wasn't going to breathe again. Miles did regain his breath and was rushed to ST Christopher's Hospital for Children for treatment. The very next day long says she called Taco Bell to think our ball who tells action news. She doesn't consider herself *** hero. We could be more grateful to b she saved my son's life. I just thought myself as *** mom with another mom that needed help.

Taco Bell opening early retirement community so adults can 'Live Ms'

Updated: 7:59 PM CDT Jul 20, 2024

Taco Bell is offering a real-world application for its slogan, "Live Ms," by opening an early retirement community.Video above: Taco Bell manager saves baby in drive-thru"The Cantinas" is a two-day event inspired by senior living for people ages 21 or older. The weekend getaway will offer a taste of laid-back living and host low-impact activities so attendees of different ages can experience a retirement lifestyle.This event comes as financial woes and inflation have reached a crisis point for many Americans and are key subjects in the 2024 presidential election. More individuals are lowering their expectations for retirement, as 20% of adults 50 years or older have no retirement savings, and 61% are unsure if they'll have enough money to support themselves in their retirement years, according to an AARP survey.Taco Bell's early retirement community is offering an experience that modern workers may not have when they reach retirement age. It also allows younger adults to experience living a carefree lifestyle while still in their prime years for activity, while providing a reprieve from everyday life.The event will offer amenities and activities such as painting classes, knitting circles, old-school games, low-impact sports such as pickleball and croquet, and an elevated dining experience with Taco Bell menu items. Lodging is provided to those with full weekend memberships, but day passes were offered as well. The event is in San Diego, California, from Aug. 17 to Aug. 18, and all tickets are sold out.

Taco Bell is offering a real-world application for its slogan, "Live Ms," by opening an early retirement community.

Video above: Taco Bell manager saves baby in drive-thru

"The Cantinas" is a two-day event inspired by senior living for people ages 21 or older. The weekend getaway will offer a taste of laid-back living and host low-impact activities so attendees of different ages can experience a retirement lifestyle.

This event comes as financial woes and inflation have reached a crisis point for many Americans and are key subjects in the 2024 presidential election. More individuals are lowering their expectations for retirement, as 20% of adults 50 years or older have no retirement savings, and 61% are unsure if they'll have enough money to support themselves in their retirement years, according to an AARP survey.

Taco Bell's early retirement community is offering an experience that modern workers may not have when they reach retirement age. It also allows younger adults to experience living a carefree lifestyle while still in their prime years for activity, while providing a reprieve from everyday life.

The event will offer amenities and activities such as painting classes, knitting circles, old-school games, low-impact sports such as pickleball and croquet, and an elevated dining experience with Taco Bell menu items. Lodging is provided to those with full weekend memberships, but day passes were offered as well. The event is in San Diego, California, from Aug. 17 to Aug. 18, and all tickets are sold out.

Here is the original post:
Taco Bell opening early retirement community so adults can 'Live Ms' - KMBC Kansas City

Local Certified Financial Planner (CFP) professional Jerry Goetz opened Retirement & Financial Strategies at 3402 Frederica Street in 2018. With over 25 years of experience in the industry, Goetz wanted to create a local family business to provide top-level service and advice for generations to come.

Also a CFP, Goetzs daughter Emma joined the team in 2022, while his son, Evan, joined earlier this year. Before joining the firm, Emma and Evan both graduated summa cum laude from Western Kentucky University with a degree in finance.

They take pride in serving the companys clients as an advisory team.

This team concept allows us to offer the highest level of service with advice from multiple perspectives as well as education and experience levels, Goetz said.

The firm also boasts a strong support staff who proudly call Owensboro home.

We are all from this community and like to give back by being part of local organizations and supporting our local nonprofits, he said.

Retirement & Financial Strategies offers investment advice, investment management, retirement planning, and all-encompassing financial planning for their clients. They begin the process by evaluating each clients situation and discussing their values and goals.

They also offer advice and management on a fee basis, as a fiduciary, rather than on a commission basis. Goetz said they always put their clients interests ahead of their own.

If we can help our clients manage their finances and investments in a way that allows them the time, resources, and energy to focus on living a happier, more fulfilling life, we have done our job, he said.

Visit retirementandfinancial.com to schedule a consultation or learn more about its capabilities. The office is also on Facebook and can be reached by phone at 270-215-2600.

The Chamber Member of the Week program is a Greater Owensboro Chamber of Commerce membership benefit. Founded in 1913, the Chamber has worked to provide valuable benefits and services to member businesses and individuals for over a century.

Today, with nearly 1,000 members, the Chamber is a guiding force in community and business development initiatives and serves as the center of business advocacy for the Greater Owensboro region.

To learn more about becoming the Chamber Member of the Week or inquire about Chamber membership, contact Shelly Nichols, Chamber Vice President, at 270-926-1860 or [emailprotected].

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Chamber Member of the Week: Retirement & Financial Strategies - The Owensboro Times

Tiger Woods was told to retire by Colin Montgomerie ahead of The Open, but Xander Schauffele was having none of it and hit back at the Scot's comments

Xander Schauffele has quashed Colin Montgomerie's idea that Tiger Woods should retire, despite his disappointing performance at The Open.

Woods, 48, was significantly behind the frontrunners at Royal Troon, where he finished two rounds at a dismal 14-over-par. However, Schauffele rejected Montgomerie's recent claim, made before Woods had even teed off, that now would be an appropriate time for him to step down from professional golf.

Montgomerie, age 61, raised eyebrows with his remarks in The Times when he said: "I hope people remember Tiger as Tiger was, the passion and the charismatic aura around him. There is none of that now. At Pinehurst, he did not seem to enjoy a single shot, and you think, 'What the hell is he doing? ' He's coming to Troon and he won't enjoy it there either."

READ MORE: Open Championship prize money as purse less than LIV Golf and PGA Tour events READ MORE: Former LIV Golf star chasing PGA Tour history after move backfired

The Brit's skepticism regarding Woods' current form didn't end there; he contended that Woods should have retired long before this point. Schauffele begs to differ and insisted he wants one of his idols to perform on the golf course for as long as possible.

"Whether it's his honest opinion or not, the game of golf needs him [Woods], needs him desperately," he said in Troon on Tuesday. "Selfishly, I want him to play as long as possible. It just helps all of the guys out here, just with the amount of eyeballs that someone like Tiger Woods brings to golf."

Woods, who has been through the wringer with injuries from a near-fatal car accident, didn't hold back when responding to Montgomerie's comments about his potential retirement. The American legend pointedly reminded everyone that unlike Montgomerie, he has major wins under his belt, which gives him the privilege of deciding when to call it a day.

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"Well, as a past champion, I'm exempt until I'm 60," Woods declared before The Open. "Colin's not. He's not a past champion, so he's not exempt. So he doesn't get the opportunity to make that decision. I do. So, when I get to his age, I get to still make that decision, where he doesn't."

Despite recent struggles, including plans to take a break from golf after a rough time in Scotland, Woods' competitive fire remains undiminished, much to the delight of fellow golfer Schauffele.

Montgomerie later clarified his earlier statements, claiming they were misunderstood, and expressed his best wishes for Woods in his quest for another Open victory.

Read the original here:
Xander Schauffele shuts down Tiger Woods retirement talk with 'desperate' plea to golf legend - The Mirror US

TROON, Scotland People work their entire lives to retire to play golf. So, what do golfers do when they retire? Its a facetious question because certainly they can enjoy the game, too.

But competitively? That is a far different subject.

The narrative that Tiger Woods should retire will only get louder in the aftermath of another missed cut at a major championship, his golf a sad shell of his former self.

Woods shot 77 on Friday at Royal Troon, a day after a 79 effectively made the second round a chance to see the 15-time major champion one more time this year. His total of 156 was well off the 36-hole cut and when he made a double bogey on the second hole, any flickering hope was all but stamped out.

Once again, he showed glimpses of greatness but could not sustain it, an almost inevitable circle of Tiger chasing his tail.

Shop: Golf GPS Watches on Sale Now Through SI's E-Commerce Partners

He cant play too much golf for fear of tweaking his back or putting too much strain on the right leg he badly injured in that 2021 car crash. But by not playing enough, he leaves himself vulnerable against the best players in the world, competing on the hardest courses, without sufficient preparation.

And so the circle goes. Tiger tries his best to get his game in shape to play in the tournaments in which he wants to compete the most and then repeats the cycle, giving up tournament reps to players a decade younger.

I have gotten better, Woods said. I just wish I could have played a little bit more, but I've been saving it for the majors just in case I do something pretty major and then take myself out of it. Hopefully next year will be a little bit better than this year.

Woods, 48, does not appear to be conceding anything. The idea that he should retire is somewhat ludicrous on its face. Woods has earned the right to compete in three of the four major championships via his previous victories. The United States Golf Association gave him a special exemption to this year's U.S. Open and hed surely get more if he wants them.

As a lifetime member of the PGA Tour with 20 or more wins, he can play any regular tour event he wantsand would get a sponsors invite if needed. The signature events have created a special category for him that wont take a spot from another player.

The 15-time major champion who has won 82 PGA Tour events deserves to handle this how he pleases, playing as often or as little as he wants.

But hed be far better served if he didnt talk about showing up to win, a noble but unrealistic pursuit. There is no shame in small victories right now, just as when he made the cut at the 2022 Masters 14 months after the crash. That was viewed as its own win.

And hed do well to play before now and the end of the year, to build up some competitive consistency, to develop a system of practicing, playing, recovering and playing again.

A tournament in September and October followed by his own Hero World Challenge would go a long way to answering some questions.

But Woods is nothing if not stubborn, and he made it clear that he wont play again until December at the Hero.

No, I'm not going to play until then, he said. I'm going to just keep getting physically better and keep working on it. Hopefully just come back for ourwhat is it, our fifth major, the Father-Son, so looking forward to it.

Woods was referring to the PNC Championship, which hes played with his son, Charlie, each of the last four years. Thats a 36-hole exhibition two weeks after the Hero. While its clearly great for him to do, it doesnt prepare him to play this kind of golf.

In 11 competitive rounds this year, Woods never broke par. He had five scores of 77 or higher, including an 82 during the third round of the Masters. That he made the Augusta cut for a third straight year was impressivehis even-par 72 during the second round on a brutally difficult day stood outand it will long be underrated among his many accomplishments. But it doesnt satisfy the current doubters.

Colin Montgomerie recently made headlines with his interview in the Times of London in which he called for Woods to retire.

I hope people remember Tiger as Tiger was, the passion and the charismatic aura around him, Montgomerie told the Times. There is none of that now. At Pinehurst he did not seem to enjoy a single shot and you think, What the hell is he doing? Hes coming to Troon and he wont enjoy it there either.

Woods certainly didnt enjoy the scores, but nothing suggests he is loathing the process.

I loved it, he said. I've always loved playing major championships. I just wish I was more physically sharp coming into the majors. Obviously it tests you mentally, physically, emotionally, and I just wasn't as sharp as I needed to be. I was hoping that I would find it somehow, just never did. Consequently, my results and scores were pretty high.

Fans who packed the grandstands and lined up 10 deep along the ropes were no doubt happy to see him in person.

There is this notion that people are tired of seeing him struggle, especially on TV, which seems somewhat absurd given that metrics continue to show he is popular. Hes played so few times that its hardly a burden on those who wish to avert their eyes elsewhere.

As for locally, how often will they get to see him again? Next years Open is at Royal Portrush in Northern Ireland. Its going to Royal Birkdale in England in two years. Future venues have yet to be announced. Woods will be in his 50s the next time the Open returns to this part of the United Kingdom.

I've won two Open Championships here in Scotland, so I've always enjoyed playing up here and enjoyed the different types of links that Scotland brings and the challenges are, he said. I've missed playing Troon. It's been a long time. I remember playing here way back in '97. I've had some good memories here. I just wish I'd done a little bit better and looking forward to it.

The Open, ultimately, is the most realistic opportunity for Woods if he is ever to get into contention again. Enormous length is not required and he knows his way around links courses.

But this week again showed that trying to ramp it up at home is not enough. Woodss lack of sharpness, his lack of competitive hardening, is sorely missing. Twice during practice rounds, Woods hit beautiful approach shots to within a few feet of the par-3 8th hole. Once the tournament began, he missed the green both times.

Those are but two examples. Woods had just four birdies over two days. He had three double bogeys. He has not shown enough firepower to overcome the inevitable mistakes that rust will bring. The scorecard only cares about the number, not his legendary status.

Nearly five months will pass before we are likely to see Woods in a competitive arena on a golf course. Once again, the Bahamas before the holidays will become a referendum on how far he has progressed, how far he might go in the new year.

It was that way last year when Woods looked good at the Hero while walking 72 holes. And it was seemingly all gone when he couldnt follow through on his play-once-a-month goals, meaning he had played all of 24 holes in 2024 before teeing it up at the Masters.

If your bodys just not letting you do it, its frustrating, said Xander Schauffele, who played with Woods the last two days. Im sure hes trying to figure that out.

Woods has some more immediate tasks. Charlie begins play in the U.S. Junior Amateur on Monday. His duties as a player-director on the PGA Tour Policy Board are ongoing as PGA Tour Enterprises tries to negotiate a deal with the Private Investment Fund of Saudi Arabia. He also runs a design business and a foundation.

Somehow in there, perhaps Woods will find time to work at the game hes excelled at for so long. With a 49thbirthday looming, hes not retiring, doubters be damned.

See the article here:
Tiger Woods Can Retire When He's Ready, But It's Now Time to Lower Expectations - Sports Illustrated

Kansas City Chiefs coach Andy Reid has plenty he could be worried about as his team attempts to win a third consecutive Super Bowl, but retirement and Travis Kelces relationship with Taylor Swift are not causes for concern.

On The Athletics new NFL podcast Scoop City, Reid talked about preparing his team for this season now that some of his star players have taken their stardom to the next level.

Im OK with it as long as theyre ready to go, Reid said. And so training camp is kind of that proving ground. If youre not ready to go, its going to be obvious quickly. Just from the whether its a conditioning test or the long drive drills that we do. Those things that are, youre going to find out whos in and whos not in and whos put their time.

Reid thinks there is no one better able to handle the fame of dating a megastar like Swift than his star tight end.

I think its great for him, Reid told Dianna Russini and Chase Daniel. He can handle it. Matter of fact, I think he probably loves it. To a point. I think theres a great escape for him. I said that about Taylor, too. I mean, she comes to the game, she can kind of escape having to be the show. And Travis can do that. And when he goes to her concerts, shes a star. And he can be hanging out there and be the support or the waterboy.

Reid, 66, has faced a lot of questions about how long he will continue, but the coach insists he isnt thinking about retirement. Taking advice from his parents, he thinks he will know when it is time and the end of his current contract which runs through the 2029 season could be a point to consider that end.

I know Im on the bottom side of this thing and not on the top side of the net, Reid said. So as its coming, but I dont know what it is. And, this is a great place to coach, and Ive got good players. Ill be 71 at the end of this contract, and that seems like really old, you know, I dont really know. And, so I well, well see, see where it all goes.

Chiefs players have been bold in talking about a three-peat. But their coach isnt going as far in putting that out there: Its not healthy. Its a nice goal to put out there. Its hard to get one.

Listen to the interview here:

You can listen to Scoop City for free on Apple Podcasts, Spotify or wherever you usually get your podcasts. Dont forget to follow and subscribe so you dont miss a single episode.

(Photo: Michael Owens / Getty Images)

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Andy Reid addresses retirement, 3-peat talk and the Travis Kelce-Taylor Swift attention - The Athletic - The New York Times

One of the rules of ikigai is to stay active and not retire, and many centenarians, especially those living in the world's blue zones, never do.

We spoke to several centenarians over the past year and a half about what behaviors and traits they believe helped them to live a long and happy life. Here's why they say finding meaningful work and not retiring played a major role.

Virginia Oliver, 104, has been catching lobsters since she was eight years old, and she really enjoys it. So much so that the centenarian signed up for lobster-catching season this year.

Oliver's secret to living beyond age 100 boils down to: "You've gotta keep living, you gotta keep working. It's not easy," she said in a mini-documentary about her life.

When asked about her future plans for lobstering by TODAY.com, Oliver said, "I'm not going to retire," adding, "I'm going to do this till I die."

Deborah Szekely, a 102-year-old, started her fitness resort and spa alongside her then-husband in 1940. More than eight decades later, Szekely still works at her business three times a week.

"We have fabulous speakers every night. I meet with the presenters [every] Tuesday, so I know what my guests are talking about," she told CNBC Make It in May.

"Wednesday, I speak. And Thursday, I meet individuals who I want to know, or friends. So I work three days a week: Tuesday, Wednesday, and Thursday."

Every week that she shows up at her spa, Szekely said, "it makes a change."

"When nature says, 'You got to stop Deborah.' Deborah will stop, until then she'll keep going," she added.

Deborah Szekely, 102, co-founded one of the first wellness resorts in North America in 1940.

Source: Rancho La Puerta

Madeline Paldo was a recent retiree at age 100 when she spoke to Make It in September of 2023. Paldo worked between the ages of 18 and 99.

Working "kept me busy, and I enjoyed working," she said. "Retirement, I don't like too much."

Paldo supported her family's business based in Chicago where they produced electric signs, and she was responsible for office work which allowed her to interact with customers daily.

"I liked being with the public. I liked being with people," she told CNBC Make It. "And I was the only one in the office that did all of the office work for our business, so it was enjoyable. I liked to go to work."

Jayne Burns, who was turning 101 in the month following her interview with CNBC Make It in 2023, still worked four days a week as a part-time fabric cutter at a crafts store.

"I enjoy what I do, so I want to keep doing it," Burns told Make It. "I'll work for as long as I can or as long as they'll have me."

She tried to retire several times over the years but would "unretire" within a few months, she said. Working at jobs that she enjoyed gave her a daily routine which she values and allowed her to interact with new people.

"Staying busy keeps you from focusing on your aches and pains," she said. "It makes it easier to keep going."

Want to stop worrying about money?Sign up for CNBC's new online courseAchieve Financial Wellness: Be Happier, Wealthier & More Financially Secure. We'll teach you the psychology of money, how to manage your stress and create healthy habits, and simple ways to boost your savings, get out of debt and invest for the future. Start today and use code EARLYBIRD for an introductory discount of 30% off through September 2, 2024.

Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

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These 100-year-olds say working beyond retirement age is what keeps them going: 'I'll work for as long as I can' - CNBC

AleksandarNakic / iStock.com

The retirement age and the future of Social Security have been big topics this presidential election season. The topics have especially caught the attention of many working Americans amid talk about potential cuts to benefits and the future for the system itself and those who will be retiring in the coming decades.

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The United States is far from the only country dealing with these situations. Countries like France have looked at options like raising the retirement age, a move which led to big backlashes from voters.

For some more perspective, heres a look at how the standard retirement age in the U.S. compares to several European countries.

Lets start with the rules in the U.S. According to the Social Security Administration, if you retire at 62, the earliest possible Social Security retirement age, your benefit is lower than if you wait. If you were born 1960 or later, full retirement benefits are payable at age 67.

If you go by statistics, that means about one decade of full retirement since the average life expectancy in the U.S. is 77.5 years, according to the National Center for Health Statistics. According to the Mercer CFS Institute Global Pension Index, which benchmarks retirement income systems around the world, the U.S. has a score of 63. For comparison, the Netherlands is the top one with an index of 85.

Find Out: What Does Social Security Cover for Long-Term Care?

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France raised the retirement age to 64, as long as the retiree worked for at least 43 years. When it comes to the Mercer Index, France is just behind the U.S. with a score of 62.

As for average life expectancy, its quite a bit higher for France than the U.S. The average life expectancy in France is over 82.

Consider: 8 Things Boomers Should Sell Right Before Retiring

The UK did better than the U.S. on the Mercer Index. It scored 73.

When it comes to retirement age, according to Age UK, State Pension age is gradually increasing for men and women, and will gradually rise to 67 for those born on or after April 1960. As for the average life expectancy, its about 81 in the UK.

Story continues

See: Cant Retire in the US? Why Many Americans Are Choosing This Country Instead

The retirement age in Norway is similar to the U.S. at 67. However, there are options for pension pay-outs starting around age 62.

When it comes to the Mercer Index, Norway has a score just over 74. In general, there may be more years to enjoy retirement. Norway has a high average life expectancy near 83.

Learn: 5 Countries With Easy Citizenship for Retirement

The standard retirement age in Spain is 66. Thanks to healthier lifestyles and diets, the average life expectancy in Spain is around 83.

The Spain pension system does leave some to be desired. Thats why its Mercer Index score is only about 61.

Read More: How Much House You Can Afford in Retirement in Different Countries

Along with Spain, the standard retirement age in Germany is 66. However, the plan is to bring it up to 67 by 2031.

As for the Mercer Index, its 66.8 for Germany. When it comes to the average life expectancy in Germany, its between 80 and 81 years.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: The Standard Retirement Age in the US vs. 5 European Countries

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The Standard Retirement Age in the US vs. 5 European Countries - Yahoo Finance

Whartons Olivia S. Mitchell states the stark truth about saving: Lets be honest, saving is no fun. People dont get utils (or utility) out of saving. They get utils out of spending. Therefore we must devise new ways to make saving more enjoyable.

Retirees can get those utils if their savings, including pensions or annuities, are sufficient to finance their lifestyle and health needs. Much depends, of course, on how wisely they saved and invested pre-retirement, as well as their spending patterns in retirement. Driving all that are several behavioral factors, which a recent Wharton conference explored.

About 30 experts delved into these and more topics at the 2024 Pension Research Council symposium, titled Retirement Saving, Investment, and Spending: New Lessons from Behavioral Research. Mitchell, a professor of business economics and public policy as well as executive director of the Council, joined Wharton finance professor Nikolai Roussanov to host the two-day event, which marked the Councils 70th anniversary.

The symposium explored key behavioral factors impacting retirement wealth creation, including conscientiousness and emotional stability, how long people expect to live, how much they expect to spend in retirement, and the decline of cognitive skills with advancing age. Other factors include gender differences placing women at a disadvantage in their wherewithal to save, and shortcomings in retirement plan design.

Knowledge of retirement saving opportunities, along with financial literacy and numeracy, are, of course, prerequisites for retirement preparedness, but they are not enough. Noncognitive skills soft personality traits like conscientiousness, stress resistance, grit, and locus of control (peoples beliefs about the extent to which they can control events in their lives) also impact retirement readiness, according to Kim Peijnenburg, a professor at the EDHEC Business School in Nice, France.

Conscientiousness reflects the tendency to be organized, practical, persistent, self-disciplined, and achievement-oriented. It is the most important of the Big Five personality traits affecting financial decisions, Peijnenburgnoted. The other four are openness to experience, extroversion, agreeableness, and neuroticism.

Peijnenburg and EDHEC colleague Gianpaolo Parise reported that those with high conscientiousness plan systematically for retirement, and they also have more financial wealth than those at the other end of the spectrum. Their study included 13,145 individuals in the Netherlands, between 2008 and 2017.

The top finding was that people in the lowest quintile of emotional stability had a 10% higher probability of being in financial distress, such as being irregular with mortgage payments or rent or utility bills. By contrast, those in the highest quintile of conscientiousness and emotional stability had only a 1% probability of being in financial distress.

Peoples perceptions of their own longevity also have implications for their retirement planning. According to Arizona State University finance professor Rawley Z. Heimer, many underestimate how long they will live when they are young, which leads them to consume and spend recklessly, save less, and make suboptimal decisions for retirement planning. But as they get older, they overestimate their lifespans, rein in spending, and go slow on drawing down their retirement assets. Somewhere between those two states, they realize they havent saved enough for retirement and start to invest more in stocks.

People who lean toward subjective beliefs tend to have incorrect forecasts about several economic variables, such as housing prices, stock market returns, and their own employment. Those who rely on actuarial probabilities an objective approach might save more for retirement, he noted.

Neighbors, peers, family members, coworkers, and financial advisors also shape how much people save for retirement. Michael Haliossos, chair of microeconomics and finance at Goethe University in Frankfurt, shared his research findings exploring how others help boost wealth accumulation.

One of his projects studied neighbors peer effects, using data from a Swedish refugee allocation program between 1987 and 1991. The authors tracked participants for the next 10-20 years to identify outcomes in private retirement accounts and stockholding. The top finding was that having more neighbors with college-level economics or business education promoted immigrants retirement saving. Another finding was that refugees with a high school certificate and who had neighbors with degrees in business and economics were more likely to be participating in private retirement accounts and hold stock over the next 10 to 15 years.

A second project studied the effects of greater local wealth inequality on peoples later wealth mobility. In such a setting, college-educated households took on more asset risks later in life, such as investing in stocks, housing, and self-employment. Thus, they achieved greater wealth, whereas others who were not similarly motivated were left behind. The implication of those findings is that policymakers need to find ways to empower less-educated households in their financial behavior, Haliossos said.

A different project compared advice on the share of risky assets in retirement saving portfolios given by professional financial advisors with advice provided by lay advisors, such as family and peers. He found that professional advisors tended to recommend a lower allocation to risky assets for retirement than lay advisors. Also, professional advisors were influenced by their own income, age, risk aversion, and risk exposure in their own portfolios, when they offered clients advice. The final study looked at the effects on financial behavior of stress caused by events like the COVID crisis, a financial crisis, or a war. This study showed that such cognitive loads preoccupy ones mind, draining peoples ability to concentrate and perform important tasks.

Lets be honest, saving is no fun. People dont get utils (or utility) out of saving. They get utils out of spending. Olivia S. Mitchell

Behavioral factors also influence opportunities women get to save for retirement, compared to those for men. Motherhood and caregiving burdens mean that women have fewer years than men in the paid workforce, lower income trajectories, and a higher incidence of part-time work, said Vickie Bajtelsmit, professor emerita of finance at Colorado State University, who has researched the gender gap in retirement saving.

Consequently, women are penalized both in their employer retirement plans and in Social Security. Segregation also reduces their opportunities to earn and save: The top occupations for women remain teaching, nursing, retailing, and social work, Bajtelsmit noted.

Although conventional wisdom holds that women are more conservative investors than men, Bajtelsmit said that this is an incomplete story. Instead, their lower retirement wealth is mainly due to gender differences in labor markets and household responsibilities. For this reason, solutions to bridge the gender wealth gap must also focus on the labor market and lifelong financial literacy education. Solutions could include continued pressure on the gender pay gap, providing women with broader retirement plan access, and prorated benefits for part-time work, she said.

Older Americans face yet another set of challenges, including mild to severe cognitive impairments that affect their abilities to make financial and health decisions. These impact Social Security claiming choices and end-of-life transfers of wealth. At the same time, many people lose important resources such as social networks and community interactions as they age. Aging is also associated with losing loved ones, including their spouses, friends, and people of the same age.

Such cognitive, contextual, and psychosocial variables are key determinants of decision-making ability, according to Patricia Boyle, professor of behavioral sciences and neuropsychology at the Rush Alzheimers Disease Center in Chicago, and Gary Mottola, research director for the FINRA Investor Education Foundation. They shared findings from the Rush Memory and Aging Project, which has tracked about 4,000 older adults from the Chicago area annually since 1987.

Difficulties in making financial choices and understanding the factors at play seem to be an indicator of adverse health outcomes to come, Boyle noted. Someone who has trouble with difficult choices is more likely to develop dementia, for example, or go on to develop more cognitive problems over time, she said.

One finding of the Rush project is that lower levels of cognition are related to lower levels of financial and health decision-making. Another finding was that low levels of financial and health literacy were related to low levels of decision-making. The rate of decline in those levels was related to scam susceptibility and psychological well-being.

In one experiment, the authors gauged how participants responded to a scam offer. The participants received emails, direct mail, and phone calls from a fraudulent marketing campaign conducted by a fictitious agency called the U.S. Retirement Protection Task Force. They were told that their retirement savings accounts had been hacked, and that the task force wanted the last four digits of their Social Security numbers.

Most of the roughly 650 participants (69%) did not engage with the campaign. Some were skeptical (15%); they spoke to the fraudster, asked questions, and sometimes berated him, Mottola said. Nevertheless, 16% of the participants fully engaged with the campaign, providing the information requested without skepticism, although not all revealed their Social Security numbers. None of those calls were recorded, nor did the fraudsters use high-pressure tactics.

The key takeaway here was that 16% number was too high, Mottola said. The full engagement group had the lowest levels of financial literacy and lowest levels of scam awareness. The skeptical engagement group had the highest cognition, which he noted was surprising.

Many people also underestimate how much money they need to retire comfortably, or the probability of unanticipated expenses, said Shane Timmons, a senior research officer at the Economic and Social Research Institute in Dublin. He documented an undersum bias (a term coined by University of Buffalo marketing professor Indranil Goswami) that led people to be less financially prepared for retirement.

Timmons shared highlights from work that he and University of Galway lecturer Fidhlim McGowan conducted on undersum bias and the various ways in which it plays out. He noted that undersum bias occurs when people do not fully comprehend concepts like compound interest, and as a result, underestimate how money can accumulate. They also underestimate the probability of unexpected financial shocks and, therefore, put aside less money than what they need for emergency expenses. Additionally, they underestimate the accumulated impact of several financial shocks, which implies that this bias is an impediment to precautionary saving.

Interventions can help, Timmons and Galway found. They used a nudge and boost communication tactic to encourage participants to open savings accounts. That led to a larger-than-expected increase in saving account uptake (over 25%); it was especially helpful for the lower-income sample. They also showed that simple infographics explaining the cumulative probability of financial shocks can also motivate a saving habit.

All said, pushing people to save more may not always be the best approach. Accordingly, Mitchell speculated that it could be unwise in some cases to incentivize the poor to save more. That is, some low-wage workers might do better to pay bills and feed their children, in view of the 90% replacement of pre-retirement income that Social Security will pay, she noted.

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How Behavioral Factors Shape Retirement Wealth - Knowledge@Wharton

If youre retiring, already retired, or even thinking about retiring, its always a good idea to protect your portfolio with retirement stocks. One way to do that is by buying safe dividend stocks.

Look at artificial intelligence data center real estate investment trusts (REITs), like Digital Realty (NYSE:DLR), for example. With a yield of 3.16%, DLR has been swept upin the artificial intelligence demand boom, where data center demand is expected to rise at a 15% CAGR through 2030,according to Goldman Sachs.

Almost every industry is now looking for new AI functionality that can streamline processes and improve results. In this new digital landscape,data centersare uniquely positioned to both provide and benefit from AI applications,says Digital Realty.

With DLR, youre investing in a safe REIT thats seeing explosive demand. All while getting paid a yield of 3.16% just to hold it.

Here are three similar retirement stocks you may want to buy today.

Source: Shutterstock

The last time I mentionedIron Mountain(NYSE:IRM),I said, The REITwhich isaggressively expanding its data center capacityto meet the demand of the generative artificial intelligence (AI) boomis just as attractive as Digital Realty Trust.

That was on June 5 as IRM traded at about $81. Today, IRM is up to $98 and still worth buying. Helping, analysts at Stifel raised their price target to $103 from $86 a share, with a buy rating. Plus, earnings are still solid.

In its first quarter, the REIT reported funds from operations of $1.10, which beat by 18 cents. Revenue of $1.48 billion, up 12% year over year, beat by $30 million. Better, the REIT carries a yield of 2.66% at the moment. It also just paid a quarterly cash dividend of 65 cents, which was paid out on July 5 for the second quarter.

Source: Ken Wolter / Shutterstock.com

Another one of the hottest retirement stocks with a yield is Equinix (NASDAQ:EQIX), a REIT that operates248 data centers across 70 countries on six continents serving over 10,000 leading businesses. Yielding 2.14% at the moment, the REIT is still a buy, even at $795 a share.

Earlier this month, Goldman Sachs initiated a buy rating on EQIX with a price target of $879. The firm believes the REIT has the potential to continue delivering strong numbers thanks to favorable supply and demand dynamics in the data center market. Analysts at Mizuho also initiated coverage with an outperform rating, with data center fundamentals improving.

Even Stifel analysts just reiterated a buy rating on the REIT, with a price target of $920.

The firm also noted that The robust demand for Equinixs services is expected to contribute to an acceleration of growth in the second half of 2024. The companys pipeline is described as robust, and there is a strong belief in Equinixs ability to maintain high conversion rates and manage churn levels effectively, as noted by Investing.com.

Source: T. Schneider / Shutterstock

Theres also American Tower (NYSE:AMT),a telecommunications and data center real estate investment trust (REIT) that yields just over 3%. It also just paid out a recent $1.62 per share dividend on July 12, with more likely to follow shortly.

Helping, Raymond James recently upgraded AMT to a strong buy with a price target of $248. The firm also noted AMT is primed for the best growth among U.S. tower stocks over the next three years. All of which happened following AMTs earnings beats.

In its most recent quarter, AMT beat and raised its 2024 guidance for earnings and adjusted EBITDA. Its first-quarter adjusted funds from operations (AFFO) was $2.79, as compared to an estimate of $2.57. Total operating revenue of $2.83 billion was above estimates of $2.8 billion. And its total operating expenses of $1.06 billion fell from $1.99 billion year over year.

Moving forward, AMT expects to deliver AFFO of $10.30 to $10.53, as compared to expectations of $10.38. Thats also above its prior outlook for a range of $10.21 to $10.45.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

On the date of publication, Ian Cooperdid not have (either directly or indirectly) any positions in the securities mentioned.The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

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3 Retirement Stocks to Buy Now: Q3 Edition - InvestorPlace