Traveling solo is a new trend that’s becoming popular among retired women. According to Entrepreneur, about 30% of married senior women have traveled alone without their partner. Retired women are choosing to explore the world on their own to embrace their independence and focus on self-care and personal growth. Here are 10 reasons why female Baby Boomers are going on adventures without their spouses, friends,
13 Unhealthy Habits Retirees Need To Change Now
Retirement marks a significant life transition, and with it comes the opportunity to reassess and improve your unhealthy habits for better well-being. Many people neglect self-care while working and raising their families, failing to make time for exercise and cooking nutritious meals. With your newfound free time, you have a chance to kick vices to the curb so you can continue to feel vibrant and
Retirement Crisis: 11 Reasons Baby Boomers Don’t Have Enough Savings
According to Investopedia, Boomers only have an average of $150,000 saved for retirement. Plus, nearly 70% of Boomers believe they’ll have a harder time achieving financial security in retirement than their parents. Why have some Boomers fallen behind on investing? Here are 11 reasons that help explain their lack of savings. 1. Unemployment During The Great Recession The Great Recession caused many Boomers to lose
14 Activities For Lonely Baby Boomers
Loneliness is an epidemic that affects people of all ages. But baby boomers in particular may feel isolated as they reach the empty nest stage and enter retirement. To stave off feelings of isolation, it’s important to stay busy and find new outlets for socialization. Here are 14 fun group activities to consider trying. 1. Volunteer Volunteering for a cause you care about can help
3 Personal Finance Rules That May Be Outdated
Money rules and guidelines like “save a 6-month emergency fund” are useful when making a budget and determining if you’re on the right track financially. However, some conventional personal finance wisdom might be a bit outdated. Many money rules haven’t been updated in a while and may not reflect the post-pandemic economy. High inflation, interest rates, and housing prices may make certain personal finance guidelines
Don’t Make These 4 Retirement Mistakes
Recently I’ve seen several articles and videos discussing financial mistakes that retirees regret making. Us younger folks can glean a lot of wisdom from our elders, including important financial lessons about saving and retirement. Many seniors say they wish they’d built up a bigger nest egg and invested in assets that provide a steady income stream. Here are 4 financial mistakes retirees regret making so
What Rate of Return Should You Use In Your Retirement Plans?
Ensuring that you have a solid retirement plan in place is crucial. Pensions are largely a thing of the past, and the future of Social Security is up in the air. So if you don’t save enough in your 401k over the course of your career, you may not get to have a retirement at all. Knowing this, I’m being conservative with my retirement planning.
How Much Of Your Income Should You Save?
I recently read a Nerdwallet article that claimed to sum up all the personal finance advice you need in just 6 words. Those words were: “Live off of 80% of your income.” However, I’d argue personal finance is a bit more complicated than that! And depending on your goals, saving 20% of your income may not be enough. Here’s why I save more than 20%
How Much Money Do You Need To Retire?
How much money do you need to retire? It’s a popular and hotly debated personal finance topic. Before the pandemic started and inflation ballooned the cost of housing, gas, groceries, and other necessities, a million dollar portfolio was seen as enough. But now some experts are saying millennials may need $3 million worth of assets to have a comfortable retirement in the future. I don’t
My Financial New Year’s Resolutions For 2023
It may seem a bit early to be thinking about financial goals for 2023 considering Christmas hasn’t even passed yet. But Bank of America just released a consumer survey about holiday shopping and financial New Year’s resolutions, which got me thinking about my goals. According to Bank of America, the top financial New Year’s resolution is to increase savings, followed by investing for retirement. Americans