The one question to ask yourself about your 401(k) when stock indexes are dropping: The market has not been kind to sensitive stomachs this week, but that doesn’t mean you should act yet. Keep calm and remember this moment when everything stabilizes.
My parents pay for their retirement community with savings, a pension and Social Security. But ‘would homelessness be likely’ if they ran out of money?: What happens when you use all of your assets on a nursing home, and is there anything to do to prepare for that possibility?
In 8 years, racial disparities in life expectancy might cost the U.S. $1.6 trillion: The racial gap in longevity affects jobs, wages and nearly everything else in life.
Also on MarketWatch:
Medicare’s finances and the saga of the Alzheimer’s drug Aduhelm
Dating tips from grandma – and her granddaughter
Think you’re ready to retire? It’s not as simple as you might think
Want to be a writer? This retiree has written 21 books for his ‘second act’
You’re retired. How worried do you need to be about inflation?
Are you a first-generation wealth builder? For Gen-X, this is a huge responsibility
Inflation is making some seniors choose between food and medications – what you can do
More in retirement news:
What to do when you don’t know what to do in retirement (Star Tribune)
Go ahead, retire at 62 and claim Social Security at 67. Your benefit will climb (Barron’s)
Comfort with annuities could help with spending in retirement (PlanSponsor)
Turn your retirement savings accounts into a type of pension income… like that of many 1960’s Black Families (Forbes)
For retirement planning, keeping it simple would be so much better (Reuters)
Research and Insight:
Long-term pet ownership can slow cognitive decline in older adults, new study finds (People.com)
3 Science-backed steps that can help you age well – and even improve your golf game (Kiplinger)
Paycheck or pot of gold? MetLife study shows latter evaporates quickly (401K Specialist)
New Voya behavioral finance research finds ‘pennies’ over ‘percents’ can help close retirement savings gaps (Yahoo! Finance)
Retirees with pensions slower to spend 401(k) (Center for Retirement Research at Boston College)
To share with your family, friends and clients:
I’m a 39-year-old single dad with $600,000 saved – I want to retire at 50 but don’t know how. What should I do?
Over 40 and can’t get a job? Apply here
I left my job at age 65 and I don’t want to retire – what’s next?
I’ll be 65 soon, have $320,000 in retirement savings and a paid-off home but I’m $46,000 in debt – should I take more money out of my investments?
I took Social Security at 62 and now regret it. Is there a way to increase my Social Security benefit?
5 things you shouldn’t assume about your investment adviser