Daily Money - Retirement Security Comes in Many Forms

Also: Why Investing Experts Are Saying 2023 Could Be a Rough Year for the Stock Market
͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
November 22, 2022
Retire with Money

Uncertainty about retirement — whether the location or how much money you need to get there — is a major problem for Americans of any age trying to envision their senior years.

Where to live in retirement, for example, is a question for many people as they explore what they want their later years to look like. Year-round warm weather is a perennial favorite, and beach living is appealing to many.

At least until they start seeing more news about violent weather, hurricanes and rising sea levels. Climate change is starting to be a consideration for that retirement dream home, reports The New York Times, with people looking at how weather could impact them.

“At first, they will say they want big views and deep water, but then they ask whether a hurricane or a nor’easter will wipe out the dock,” said David Dew, a real estate broker who sells homes near the Rappahannock River in White Stone, Virginia. “They want to be on the water but more protected.”

Future retirees aren't only questioning traditional retirement locations, but the investments used to save for their post-work lives, too. Younger investors feel crypto should be in their 401(k)s and individual retirement accounts (IRAs), according to Schwab, which surveyed 1,100 401(k) investors and found that younger ones — Gen Z and millennials — want a lot of choice in how they invest for retirement, and that means cryptocurrencies. The demographics differ in how interested they are in crypto as a 401(k) investment:

Gen Z: 46%
Millennials: 45%
Gen X: 31%
Baby boomers: 11%

For more on this, read Sarah Hansen’s story on the investing preferences of younger 401(k) savers.

— Jill Cornfield, deputy editor

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Timely Retirement News, Insights and Advice

 

Stocks soared on the back of a better-than-expected inflation report last week, but experts agree that there’s more volatility ahead, especially given the concerns around a potential recession next year. Complicating the picture is the fact that public companies could be headed for a tougher 2023 than analysts are predicting.

 

Your investment portfolio has likely seen better days than it has this year. But even when it looks like the balance in your 401(k), individual retirement account (IRA) or other investment accounts is getting smaller, continuing to contribute to those accounts will set you up for success over the long term.

 

In October, new vehicle transaction prices were actually just below a record high set in August. But when you factor in today’s higher interest rates, it’s never been a more expensive time to finance a car, according to a Kelley Blue Book report.

 

A high-yield savings account offers interest rates up to 25x times higher than a traditional savings account, making it an excellent place to keep cash for short-term purchases, like a new computer, or long-term goals, including a down payment fund or a vacation account.

 

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Money Moves
Sam Sharf
Every Saturday, Money real estate editor Sam Sharf dives deep into the world of real estate, offering a fresh take on the latest housing news for homeowners, buyers and daydreamers alike.

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Retirement News From Around the Web

 

How to Retire at Any Age with Farnoosh Torabi (podcast)
TEACH ME HOW TO MONEY

 

Replace the Failure of Medicare Advantage with ‘Medicare Part F’
STAT NEWS

 

We Need to Rethink Retirement and When it Should Begin
AUSTIN AMERICAN STATESMAN

 

Retirement Savers Seek Safe Havens Within Their 401(k) Plans. They May Regret it Later
CNBC
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