According to some estimates, humans make a staggering 35,000 decisions every day. That equates to about 2,000 options for each hour of awake time. Thankfully, most decisions (such as what to eat for breakfast or what shoes to wear) are made swiftly and spontaneously. However, several decisions in life require a more thorough approach.
The midterm elections of 2022 were among the most controversial in recent memory, with voters weighing in on crucial economic topics like inflation and taxes. While rising prices catch the attention of many voters, the upcoming Election could result in significant changes for retirees and those nearing retirement, given that the Republicans have pledged to cut Social Security and Medicare.
And would Democrats, as they did in 2021, attempt to amend Roth IRA restrictions and estate taxes? These two main concerns and others could appear on the forthcoming legislative agenda when the new term begins, mainly if there is a shift in the congressional power structure.
Here is what individuals planning for retirement must focus on and how they can better secure their future.