Welcome to the round-up!
Below are the posts we read, found interesting and loved this week for a variety of reasons. They are inspiring and thought-provoking and we’d like to share them with you.
This is a great article that discusses health concerns as it relates to your retirement. Your health impacts your retirement savings. There are some specific things you can do to make your later years more healthy.
Check out our article on the same topic. Healthcare Can Destroy Your Retirement. Here’s the Solution.
This article brings to light how women can be at a disadvantage when it comes to making their retirement savings last. Career breaks, lower earning potential and longevity all contribute to the final numbers.
From the article:
“Experts say Wightman and women like her need to take control of their finances now more than ever. A recent survey found retiring women are at greater risk for financial collapse than men.
A big factor is higher medical costs. 70 percent of nursing home residents are women according to AARP. And when it comes to out of pocket health costs, retired women pay about $600 more a year than men.
Another factor? Lower wages. Women earn 79 cents to the dollar compared to men, meaning women generally have less money to pay for long term health care. Women also spend more time out of the workforce to care for children or aging parents.
“I gave up my career to have my children and so that automatically put me into a position where I wasn’t going to be able to contribute as much to pension as if I had carried on with my career,” Wightman says.”
The New York Times
This is a thought-provoking article that begs you to make your wishlists sooner rather than later to live a more fulfilling life and of course, fewer regrets. A must read!
From the article:
In a way this is a disheartening article that tries its best to teach you how to live with less in retirement. While downsizing can be helpful, frugality is not the whole answer to make your retirement savings last. There are many more options to boost your retirement and we discuss them at length on this blog. So no, $1 million isn’t enough to retire. You do need more and you shouldn’t settle for less.
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Ian Bond is a private banking senior executive with over three decades of experience in wealth and asset management with Goldman Sachs, Credit Suisse, and Citigroup. He has built major businesses on four continents.
Despite his professional responsibility for assets over $100B and revenues over $1B, after the 2008 crash Ian was personally going broke. Within five years he destroyed his debt, became an expat in 2014, and built multiple streams of income to fund his imminent retirement. Ian is also the founder of MyRetirementRehab.me created to help other executives and professionals rehabilitate their finances and make a prosperous, enduring retirement a reality.