You may have dealt with money for more than half a century. You understand hard work, following a budget, saving money, and spending wisely. You possess a wealth of financial wisdom—at least in comparison to your grandchildren.
On one side, people in the sandwich generation provide some type of care to aging parents. It may include financial, emotional, or health-care help.
On the other side, sandwich generation members are taking care of young children or boomerang kids. Boomerang kids are adults who have left home and later returned for financial reasons.
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.