10/17/2014 – When Planning for Retirement, Consider Transportation (The New York Times)

Oct 20, 2014 Comments Off by

According to the American Journal of Public Health, Americans are outliving their ability to drive safely — a woman, on average, by 10 years, a man by seven. Over all, the ability to drive safely as one ages depends on health. Some people can drive into their 90s while others begin to cut back at 65. When people make retirement plans, they make no transportation plans because they assume they’re going to drive forever,” said Katherine Freund, founder and president of the Independent Transportation Network, a nonprofit organization that provides rides for older adults, with 27 affiliates throughout the country. Nationally, for those over 65, 2 to 3 percent of what distance they travel is on public transportation, 8 percent on foot and the rest by car, Ms. Freund said.

When planning ahead, think about whether you prefer to stay in your community, plan to downsize or will relocate. According to a 2014 AARP study, by age 65 and older, 87 percent of people want to remain in their current community as they age. Financial and family considerations play a role in decisions about where to live.

Read the full article at The New York Times.

Financial Landing 2014

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