Planning for retirement is only half the battle in preparing yourself for those golden years. Yes, it is important to ensure that you've set aside enough money to live comfortably. However, if you've always dreamed of living somewhere different in retirement the amount of money you need to live comfortably could change drastically based upon where you end up living. Believe it or not, the amount of money that equates to comfortable living can vary drastically just from one city to the next in the same state, not to mention one state to another.
All of life's decisions come with some level of research. Consider buying a new car as an example; you would not just walk onto the lot looking for a four-door car in red and take whatever the salesperson points you toward. Why treat moving into a retirement community any differently? There are several different types of communities out there with different levels of service, staff care, and amenities. Moving into a retirement community requires a little homework first, and below you will find some information to help get you started on the process.
Most Americans spend their entire career working hard to save money for retirement. The goal of reaching retirement is to eventually take your foot off the gas and relax a little, but stress can creep in when you find that you do not have enough money to make it through retirement. Even for those who save money for retirement, there are unexpected costs that can arise. These costs can shake the foundation of your savings, but that does not have to be the case. Here are some unexpected retirement costs you should plan for to avoid suffering a setback.
When you visit your doctor, you go through several tests to determine your health. You step on scales to measure your weight, have the doctor listen to your heart rate, and find out your cholesterol, body mass index, and a variety of other important indicators of your health. Most Americans know these measures of their physical health, but do you know how to grade your financial health? NerdWallet has a survey you can take to judge your financial health, but may not help you gain great insight on your finances.
The 2017 calendar year has come to an end and it has been quite the rollercoaster ride. The economy, globally and in the US, has been up and down. With hopes of President Trump rolling back restrictions on the American economy, many businesses started spending, hiring, and investing capital. Additionally, the rough 2017 hurricane season dented the economy and slowed it down as major cities went into recovery mode. With these factors in mind, what is the outlook for the economy in 2018?
US GDP Growth Will Rise
When you are planning for retirement, one of the most overlooked aspects that many forget to consider is long-term care. It is one thing to set aside money throughout your life to cover monthly expenses such as mortgage/rent, groceries, gas, and entertainment. It is an entirely different concept when looking forward at the potential need for long-term care. How would you or your family members pay for a long-term care facility or in-home nurse? As is the case with many things in life, preparation in advance is key. Here are five things to look at regarding long-term care.
The market is a notoriously fickle beast. Generally speaking you will a notice a repeating pattern present in the markets and the economy. Periods of sustained growth are often offset by contraction and correction, before a subsequent period of new growth. While this cannot be broadly applied to all industries in the market, the overall market does tend to follow this pattern. This leaves many wondering what the future of the market looks like today?