From Retirement: Saving for the Future

Introduction

According to a recent study, a significant number of young Americans are uncertain about their ability to retire, with 20% expressing doubts. Surprisingly, this sentiment extends beyond the younger population, as 15% of all Americans have no retirement plans whatsoever.

"Peak 65": The Growing Influx

As we witness a massive demographic shift, with over 4 million individuals turning 65 this year, the impact on various sectors becomes apparent. This phenomenon, aptly named "Peak 65," marks the largest surge of senior citizens the world has ever experienced.

Lessons from Loss: Preparing Your Heirs

The passing of a loved one is an unfortunate reality that, if not properly managed, can cause considerable stress for heirs. In light of this, there are six crucial lessons we can learn from personal experiences. These include collecting and organizing important documents, updating passwords and pin numbers, and sharing their location with your heirs.

Dual Apartments: Realistic Retirement Living?

Revocable Trusts and Homeownership

When one partner opposes marriage, concerns about asset distribution upon death arise. In this case, setting up a revocable trust can provide some relief. However, it's important to consider potential risks before fully relying on such arrangements.

Excessive Corporate Compensation

The CEO of a "too-big-to-fail" bank reportedly received a whopping $66,000 per day for 14 years. This controversial remuneration raises questions about income inequality and corporate responsibility.

A Massive Wealth Transfer: Gen X and Millennials

In the not-so-distant future, trillions of dollars are set to be inherited by Generation X and millennials. This impending wealth transfer will undoubtedly have a significant impact on the economy and individuals' financial planning.

The Rising Cost of Death

Death, an inevitable part of life, can also be a costly affair. As expenses associated with end-of-life arrangements continue to rise, it's essential to consider these factors in comprehensive retirement planning.

Retirement Strategies for Gen X and Millennials

More in Retirement News

• Think you'll work past 70? Good luck. Why most of us retire earlier. (USAToday)
• This Is The Age Most Americans Retire — And How To Know Whether You're On Track To Retire Earlier Or Later (Yahoo Finance)
• Employers Can Now Match Student Loans With Retirement Contributions (Forbes)

From Tax-Deferred to Tax-Free: Navigating Taxes in Retirement

Research and Insight

• Five new retirement numbers to know in 2024
• 5 Retirement Industry Trends to Follow This Year
• Many Younger Americans Don’t See a Path to Retirement
• Why you should never retire
• A $1M nest egg may not provide a comfortable retirement in America — and won’t even last you 15 years in some ultra-expensive states. Here are 5 of the priciest places your money won’t go far

To share with your family, friends and clients

• We’re in our 70s, have $1.3 million in IRAs and $1.15 million in cash. But we have ‘no clue’ what to do with the money.
• My wife of 65 years died and my IRA mistake resulted in double the RMD
• My in-laws asked me to relinquish any claim to $100,000 they gave us as a down payment for our house — on the day we closed. Is that legal?
• I asked my elderly father to quitclaim his home so I can refinance it — and take out a $200,000 annuity for my sister and me. Is this a good idea?
• My Tinder match asked if I ‘rent or own’ my apartment. Is it gauche to ask financial questions before a first date?
• More renters than ever now spend too much of their incomes on housing, Harvard study finds