Are Ice Cream Cones in Your Clients’ Retirement Budgets?

Michael Lynch   |  Thu Sep 20 10:00:00 EDT 2018

There isn’t much that can compare to an ice cream cone on a hot summer day or early evening. Remember all those childhood summers spent at the beach or the boardwalk eating an ice cream cone, trying to finish it faster than it could melt and make a mess? Memories like these, of the little things in life that can bring a smile to your face, are the cherished moments we hope to have again and again.

Whether it’s going out for ice cream or engaging in another treasured pastime, I would like to be able to continue making those memories when I get older, and share those experiences with my spouse, friends, children, or grandkids. Many of your clients probably hope to be able to do the same, especially as they enter retirement and have more time on their hands.

Keeping busy and doing what makes us happy, no matter how trivial the activity, during retirement is important to a healthy, long life, but some may find they run into roadblocks. There are generally two particular challenges your retired clients might encounter as they try to fill their newfound free time: how they will get from place to place, and have they have budgeted transportation costs into their retirement fund?

Having the freedom to go where we want when we want is not always a guarantee as we age. Declining health and faculties may make it no longer safe to drive, and while it may seem a devastating loss of independence, it doesn’t need to be. Technology has made aging easier than ever, so even for your clients who can’t drive, if they get that craving for an ice cream cone, they could use an app to request a ride right from their phone.

These door-to-door taxi services are fairly inexpensive options, but they can still add up over time. The number two out of pocket expense for retirees is transportation. Whether your client owns their own vehicle or needs to rely on public transportation or taxi services, these are hidden costs your clients may not have considered when planning for retirement. As you sit down with your clients, make sure they understand how important it is to budget for these costs as they plan to live on a fixed income.

Saturday is National Ice Cream Cone Day. Why not celebrate by enjoying an ice cream social with your clients? Have them bring their kids and grandkids, and make it a dessert-and-learn event. Help them learn about their options, so they know they can still make more memories enjoying an ice cream cone on a hot summer day.

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Michael Lynch

Michael Lynch  

Vice President, Strategic Markets


Michael Lynch is Vice President of Strategic Markets for Hartford Funds. In his current role, Mike is responsible for engaging and educating both financial advisors and their clients about current and emerging opportunities in the financial-services marketplace. These opportunities range from tactical strategies in areas such as retirement-income planning, investment planning, and charitable planning, to anticipating and preparing for long-term demographic and lifestyle changes.

Mike joined the organization in 1993 as an annuity client service specialist. In 1997, he joined the Advanced Product Marketing department, where he developed an extensive knowledge of estate and retirement planning. In 2004, Mike became a regional sales director. In 2006, he became Vice President and national director of The Hartford’s Retirement and Wealth Consulting Group, which provided thought leadership and financial education focused on retirement and small-business planning. In 2012, he joined The Hartford Mutual Funds.

Mike earned his bachelor’s degree in business administration from Eastern Connecticut State University. Mike is a registered representative of Hartford Funds Distributors. He is FINRA Series 6, 63, and 26 registered and holds a life, health and variable insurance license. He currently lives in Charlotte, North Carolina, with his wife, Kim, and their children, Josh, and Em.


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