If there’s one word that aptly describes stock prices so far this year, that word is volatility. And, as today’s article points out, “ those saving for and those living in retirement are becoming increasingly fearful of putting their life savings at risk in markets that fall and rise as they have this year.” But is this fear warranted? The author outlines the findings of a study showing that, while stock market volatility has increased when measured on a daily basis, “when measured using monthly increments, there has been no discernable change in return volatility.” So, how should retirees and soon-to-be-retirees change their thinking and behavior when it comes to risk – and what do aspirin and golf swings have to do with it? CLICK HERE to find out.
Empty-nesters have more disposable income and are thus in a position to step up their retirement savings, right? It turns out, not exactly. While some estimates assume that empty-nesters will increase savings by 12%, today’s article references a recent study which found that savings only increase by 0.3% to 0.7%: “In other words, parents are spending pretty much the same amount as they did before—and that means they will arrive at retirement with a higher standard of living to replace and less resources with which to do it.” Why is this assumed empty-nest windfall failing to materialize, putting a secure and comfortable retirement at risk in the process? CLICK HERE to read more.
“Newsflash to Baby Boomers: the roadmap for retirement has changed and you have to change with it.” The author of today’s article cautions that there is a “significant shift happening in retirement planning because of new technology that can deliver similar or better service…at lower cost… [and that] Baby Boomers are most at risk of missing the boat on this technological change.” As such, he outlines five of the most critical mistakes he believes Boomers are making in this new retirement planning reality and provides a “New Playbook” for Boomers to follow in regards to each of these mistakes. To read more, CLICK HERE.
“If you’re like most people, you have less than $75,000 saved for retirement. Yet, you keep hearing that you need upward of $1 million to make it through your retirement years. Just where is that million bucks going to come from?” Today’s article outlines the stories “of 3 super-savers – people who have saved more than double the national average of account balances for people of their age.” From a low-income accountant with a knack for budgeting to an entrepreneur who automates “just about everything” to an information technology support staffer who uses a crock pot as one of his retirement saving tools, CLICK HERE to see what can be learned from these 3 retirement super-savers.
Looking for a better way to keep track of whether you are saving enough to retire? Today’s article may help in that regard, outlining “a more nuanced set of guidelines” offered up by JPMorgan. Here’s what the author has to say: “The aim is to help you track your progress in a way that reflects how much you will need in retirement based on your actual circumstances. How? Instead of one recommended salary multiple for each age checkpoint, JPMorgan’s recommended salary multiples vary, depending on how large your pay is.” CLICK HERE to read more.