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Health care expenses might be one of your top retirement concerns, and with good reason. Fidelity recently claimed that a 65-year-old couple retiring today will need an average of $315,000 for medical costs. However, evidence and logic suggest this likely won’t be your reality.
While it can be a difficult motive to overcome, avoiding emotional reactions during times of market volatility is key.
If you continually experience the fear of running out of money (FORO), it can create a significant impact on your lifestyle during retirement.
Time is your most precious resource. How much of it do you spend thinking about money?
Your retirement is more than an investment strategy. Guaranteed income is high on the list and taxes shouldn’t be overlooked.
As an investor, you should be aware of the asymmetric risk-reward characteristics offered by the stock market. Why? They can offer you greater investment peace of mind.
While a Roth account is a powerful tool you can leverage to generate tax-free income, it has limitations on funding and participation. As such, this is where a loophole can come into play: The backdoor Roth strategy.
While you may think the concepts of investing for money and investing for happiness are the same, psychology says otherwise. Money can provide you certain comforts and opportunities, but it does not guarantee happiness.
Your financial journey throughout life won’t look the same as anyone else’s. So, while it can be informative to learn from others' financial experiences, here’s a word from the wise: Never blindly mimic their strategies.
You surely don’t want to lose sight of what truly matters to you. So define your peak, prioritize your Purpose and make both core components of your wealth-building process.
The phrase "use it or lose it" holds true when it comes to maintaining your muscle strength. However, evidence suggests that your neurological and muscular systems can be retrained, regardless of age.
Ask yourself: Are you making any of these mistakes? Maybe it’s time to step off the sidelines, dig deep into your portfolio and create a greater opportunity to optimize your financial wellbeing.