History tells of investors leaping from tall buildings during the Great Depression. It was Black Thursday, October 24, 1929. Newspaper columnist Will Rogers wrote: “When Wall Street took that tail spin, you had to stand in line to get a window to jump out of.”
You spent decades saving for retirement. A long time ago, you understood and took to heart the advice about the importance of your retirement savings. You’ve just turned 70, and you’re proud of your financial achievements.
They were the largest generation in American history. Their impact on American society still reverberates today. They were the forerunners of a cultural revolution that helped transform the nation and Western civilization. They are baby boomers, born between 1946 and 1964.
Analysts say couples will need an estimated $280,000 to cover health-care costs in their retirement. That’s a 2% increase from last year’s estimate.
Many retirement planners find that utilizing annuities may be a good way to generate guaranteed income. Annuities allow you to set retirement distributions based on their type and how much you contributed.
You understand the value of setting financial goals. Goals serve as stepping stones to achieving your dreams. Saving for retirement is a top priority for many people since some analysts suggest you may need as much as $1 million to retire comfortably.
The creative team for real estate developers came up with the term “the golden years” in 1959 as part of a pitch to sell homes in the nation’s first large-scale retirement community.
As retirement approaches, many couples start thinking about moving. Nearly two-thirds say they plan to move or will move when they retire. Retirees consider moving for several reasons, including the financial benefits (smaller house) and to be closer to family (grandchildren, in particular). However, moving can get expensive and complicated.
How do you talk to your adult children about your financial plans and future health-care needs? Both you and your children may view this type of discussion as uncomfortable, awkward, or even confusing. It can be difficult, but putting it off only makes matters more complicated later.