futureofretirment
For retirees, disability survivors, and people with disabilities, Social Security is a vital safety net. Nearly 67 million people, or around 1 in 5, receive Social Security benefits. According to a survey by the Senior Citizens League, Social Security benefits have lost 36 percent of their purchasing power since 2000. That number is actually an improvement over 2022 when it was 40%. It still means that today’s dollars are worth considerably less than two decades ago. In other words, for retired workers to regain the same buying power they had at the turn of the millennium, they need an increas...
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Many people aim to retire in the near future. Hopefully, everything will go smoothly. However, retirement plans are always confronted with challenges, whether it is market volatility, healthcare affordability, or inflationary risks. On top of that, you’ll have less financial flexibility without a fixed income. Do not be alarmed, future retirees. In 2024, you can expect to see some exciting new trends that can help you not only reach your retirement goals but make your wallet fatter by $1000 per month as well. The Relocation ShuffleThe importance of location in 2024 goes beyond scenic views. In...
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Traditionally, retirement has been viewed as a time for relaxing, enjoying the fruits of your labor, and taking a break from work. It is likely, however, that retirement will look very different in the future. Here, we will analyze some of the trends shaping retirement’s future. In addition, we will offer some predictions about the future of retirement. 1. The retirement savings gap is widening.Future retirees face a growing retirement savings gap as one of their biggest challenges. Based on Census data for 2020%20of,23%20owned%20a%20retirement%20account.), fewer than half of Americans are sav...
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