While it was a good year for launching businesses, it was a lousy year for hiring. By 2021, more than 47 million Americans will have left their jobs willingly, according to the Bureau of Labor Statistics. This reflects an unequaled workforce mass exodus prompted by the pandemic, known as the Great Resignation.
The state of the economy is causing a lot of anxiety among investors right now. Some people are concerned that they won’t have enough money to retire because of rising inflation and the recent bear market. Financial advisors may put their customers at ease by outlining the steps they should take to prepare their investments for retirement.
Even though the U.S. retirement system may seem good, it is not as good as those in other developed countries. According to the Investment Company Institute, Americans saved more than $39 trillion for their old age in 2021. In many global retirement rankings, like the Mercer CFA Institute Global Pension Index and Natixis Investment Managers 2021 Global Retirement Index, the U.S. does not even rank in the top 10. For example, the United States got …
Today, it appears that fewer individuals prefer to discuss managing investing portfolios. In truth, for many people, “investing” means choosing which mutual funds to buy.
Many people have the idea that estate planning is only for the wealthy. However, it may be time to reconsider because an early estate plan helps ensure that your retirement years are stress-free. Remember that good estate planning will go a long way toward safeguarding and developing your money over time.
The number one retirement expense is Health Care. The typical 65-year-old American couple’s healthcare bills after retirement would be enormous: The Boston-based wealth management behemoth Fidelity Investments estimates the retired couple would need 315,000 to cover unpaid medical expenses throughout their lifetimes. These are expenses that Medicare will not cover.
However, you can potential lower these expenses if you do this: