With economic uncertainty looming and the risk of a recession on the horizon, it’s critical to start planning for retirement now. It’s important to have a strong financial plan that can withstand any economic storm. Understanding and acting on your financial priorities might help you minimize stress and gain more control over your future.
Concerns about inflation, fear of a future recession, and stock market volatility lead many Americans to postpone their retirement plans. According to a Nationwide Retirement Institute poll conducted in August, 40% of workers aged 45 and up had decided to hold off on retirement.
Inflation has always been a concern for those approaching retirement, as it can significantly impact their ability to maintain their standard of living in retirement. In 2023, inflation has become a significant factor for retirees, with prices for goods and services rising alarmingly.
The recent collapses of two large banks, Silicon Valley Bank and Signature Bank, shook customers with cash deposits in banks and brought the workings of federal deposit insurance into the public eye. When financial institutions fail, are retirement accounts protected? Do you have reason to be concerned about your 401(k) or IRA nest eggs if your brokerage, mutual fund firm, or plan provider fails?
Choosing the right financial advisor is crucial for your financial success, and knowing when it’s time to switch advisors is equally as essential. Here are some key signs that you need a new financial advisor and what to look for when searching for a new one.
Discover the benefits of real estate investments for retirees, providing passive income through rental properties and REITs while exploring challenges and best practices for financial stability in retirement.
Home warranties are a topic of much debate among retirees; some swear by them, while others find them a waste of money. The truth is whether or not a home warranty is worth it for retirees depends on a bunch of factors, including the age and condition of their home, their budget, and their individual needs.
Retirement is a time of life when people can finally take a break from their regular work routine and indulge in things they love. For foodies, this means traveling to places where they can experience and savor exotic flavors, try new dishes, and explore culinary cultures. If you’re a food lover looking for the perfect retirement vacation, there are many destinations around the world where you can indulge in your love of food and travel.
Retirement life in a van or RV is becoming an increasingly popular choice for many people looking to spend their golden years on the road. The freedom and flexibility that come with van life especially appeal to retirees who want to travel and explore new places without being tied down to a particular location.
As retirement approaches, many retirees face new challenges, particularly regarding housing. Recent statistics indicate that affordable, accessible, and suitable housing are among retirees’ most pressing concerns. In the United States, the retirement housing crisis already affects millions of people. Affordability remains one of the most significant issues, partly because over 40% of retirees have less than $100,000 in savings. Additionally, accessibility and suitability issues are highly concerning for many retirees, especially those with mobility challenges.