There’s More to it Than You May Think
Imagine this: you plant a beautiful flower garden and tend it faithfully for forty years. You protect it from stormy weather and pests, you never pick its beautiful blooms and you don’t traipse through it for fun. You never even get close enough to smell the fragrant flowers or run your hands through them because you’re focused solely on growing them taller and stronger without hindering their progress.
Retiring rich is something we all dream of, but it requires dedication and planning to make this dream a reality. For many Generation X-ers, it’s a dream that could be beyond reach without intervention. A new study from the Transamerica Center for Retirement Studies showed that only 14 percent feel they will have saved up enough to live comfortably in retirement. This stunning statistic illustrates the importance of using your forties to examine your financial preparation for your retirement years.
Did you know that over 60 million Americans are living in a home with either grandparent, grandchildren, or with two or more adult generations? That’s nearly 20% of America.
Whether it was planned or not, you may at one time be living in a multi-generational household. Kids may need to move back in after college. In fact, over 36% of 18-31year olds are living at home. Forty-seven percent of adults aged 40-50 have a parent 65 or older and are still raising or have adult children with financial needs. Whether it’s the cost of living increases, childcare needs, health issues, or a job loss, the trend of moving into a multi-generational family home has been on the rise since 1980, hitting a high point during the 2007-9 recession. Whatever the case, living in a multi-family household can be an enriching and positive experience. This article will go over some ways to streamline the process so that it is beneficial to everyone.
All signs are pointing to higher taxes in the future. The middle class, especially those diligently saving for retirement in their 401(k)s and IRAs, need to be ready for that.
There’s so much political news these days. I can’t turn on any news channel and not hear a constant drumbeat of Trump, Trump, Trump.
But he’s not the only story.
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