As we look toward the future, one of the most pressing concerns for those approaching retirement is the rising cost of healthcare. Reports indicate that healthcare expenses for retirees are expected to increase significantly over the next decade, presenting a substantial challenge for retirement planning. For individuals in their late 50s and early 60s, understanding […]
Recent findings from the Prudential Financial survey have revealed that 55-year-olds are facing significant emotional and financial challenges as they navigate the complexities of retirement planning. This demographic, which includes many of you, is dealing with a unique set of pressures that can significantly impact life satisfaction and mental health. However, with the right strategies […]
Retirement is a significant milestone in life, offering the opportunity to embrace new adventures, hobbies, and personal growth. It’s important to recognize that stepping away from a career isn’t solely about reaching a certain age; it’s about understanding when it’s the right time to transition into a new chapter. Knowing when to retire isn’t about […]
As Baby Boomers transition into retirement, ensuring financial security and maintaining good physical and mental health becomes paramount in the face of potential uncertainties. From market fluctuations to healthcare expenses and longevity risks, navigating these challenges requires proactive planning and strategic decision-making. Before diving into specific strategies, Baby Boomers must grasp the various risks they […]
I retired in 2006, almost 19 years ago. I worked on and off for another 8 years for pay but stopped working for pay in 2014, so this is my 10th year in full retirement. It’s worth considering that your retirement may last far longer than your job. According to the Bureau of Labor Statistics […]
As retirement approaches, it’s natural to feel a bit apprehensive, especially during times of economic uncertainty like market fluctuations and potential government shutdowns. To retire confidently, consider these practical steps to secure your financial well-being for the long term. Firstly, revisit your financial plan. Take a close look at your savings and investments, considering factors […]
Here are the last 10 places that are ranked in the top twenty: 11. Canada (Rank: 11): · Pension System: Basic national benefits, means-tested income supplement, and public pension plans. · Strength: Diversification of income sources and adjustments for inflation. · Challenge: Improvement needed in quality of life and material well-being. 12. New Zealand (Rank: […]
As you transition into retirement, it’s a perfect time to discover the vibrant and flourishing aspects of your identity that may have been somewhat overshadowed during your working years. Retirement doesn’t mark the end of your personal journey but rather the beginning of an exciting new chapter in your life. The path ahead is filled […]
I have been asked by many approaching retirement this question, “Do you really need to take a view on inflation for the purposes of modelling future wealth?” When approaching retirement and trying to model future wealth, it’s essential to consider the potential impact of inflation on your financial planning. Inflation is a key factor that […]
Planning for retirement is about making more informed decisions. Over the years we have acquired knowledge and personal insights and have grown to trust our insights and intuition. This type of knowledge is called tacit knowledge, and it is difficult to articulate, codify, or transfer to others. When it comes to retirement planning, tacit knowledge […]
