Retirement Planning Is Harder Than It Used To Be
Mar 07, 2024
Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning. Let’s talk about why on today’s episode.
Today's discussion is so important because it means retirees have more work to do on their own, and that can make it more difficult for most people. Find out what's changed and what you can do to put yourself in the best position for retirement.
Here’s some of what we cover in this episode:
- In past generations, it was common to work for the same company for most, if not all, of one's career.
- With the prevalence of pensions and other employer-sponsored retirement plans, there was less pressure on individuals to save independently for retirement.
- The modern landscape of complex financial products did not exist, making investment decisions simpler for retirees.
- In recent times, retirees face escalating healthcare costs, which can consume a significant portion of their retirement savings.
- With an aging population, there are fewer workers supporting more retirees, putting strain on the Social Security system, and potentially affecting future payouts.
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Psychologists have determined that retirement is one of the most stressful events that some people will experience in life. In this episode, we’ll look at the ways to proactively deal with the stress surrounding the retirement process.
We wanted to bring on someone who is as tapped into what’s happening in the economy as anyone we know. Matt Heimann, CFA, is the Director of Asset Management at CreativeOne Wealth and he has a deep analytical expertise in building asset allocations and populating investment models.
