Daily Money - Retirement Security Comes in Many Forms

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.